SL Green Realty Corporation $SLG Holdings Raised by Swiss National Bank

Key Points

• The Swiss National Bank increased its stake in SL Green Realty Corporation by 9.1%, now owning 138,998 shares valued at approximately $8.02 million.
• Recent analyst ratings for SL Green showed a mix of recommendations, with one investment analyst rating it a sell and eleven giving it a hold rating; the average target price is $67.29.
• SL Green reported earnings with an EPS of $1.63, exceeding expectations but showing a negative net margin of 2.21% and a revenue of $147.54 million.

Swiss National Bank grew its position in SL Green Realty Corporation (NYSE:SLG - Free Report) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 138,998 shares of the real estate investment trust's stock after acquiring an additional 11,600 shares during the quarter. Swiss National Bank owned approximately 0.19% of SL Green Realty worth $8,020,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Norinchukin Bank The increased its holdings in shares of SL Green Realty by 6.6% in the 4th quarter. Norinchukin Bank The now owns 3,117 shares of the real estate investment trust's stock valued at $212,000 after acquiring an additional 192 shares during the last quarter. Mackenzie Financial Corp grew its stake in SL Green Realty by 4.7% during the 1st quarter. Mackenzie Financial Corp now owns 5,324 shares of the real estate investment trust's stock worth $307,000 after buying an additional 240 shares during the last quarter. KLP Kapitalforvaltning AS grew its stake in SL Green Realty by 2.2% during the 1st quarter. KLP Kapitalforvaltning AS now owns 13,874 shares of the real estate investment trust's stock worth $804,000 after buying an additional 300 shares during the last quarter. Two Sigma Advisers LP grew its stake in SL Green Realty by 1.3% during the 4th quarter. Two Sigma Advisers LP now owns 24,316 shares of the real estate investment trust's stock worth $1,652,000 after buying an additional 301 shares during the last quarter. Finally, Xponance Inc. grew its stake in SL Green Realty by 6.6% during the 1st quarter. Xponance Inc. now owns 5,745 shares of the real estate investment trust's stock worth $331,000 after buying an additional 357 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SL Green Realty

In other news, Director Carol N. Brown sold 2,500 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $60.61, for a total value of $151,525.00. Following the completion of the sale, the director owned 937 shares in the company, valued at $56,791.57. This represents a 72.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 5.04% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SLG shares. Wells Fargo & Company lowered their price objective on SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Evercore ISI lowered their price objective on SL Green Realty from $74.00 to $73.00 and set an "outperform" rating for the company in a research note on Monday. Wall Street Zen downgraded SL Green Realty from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Scotiabank raised SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 price target for the company in a research note on Friday, July 25th. Finally, Barclays decreased their price target on SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $67.29.

SL Green Realty Price Performance

Shares of SL Green Realty stock traded down $0.1180 during trading on Thursday, hitting $54.7420. The stock had a trading volume of 650,731 shares, compared to its average volume of 869,246. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.72 and a quick ratio of 2.72. The firm has a market cap of $3.90 billion, a P/E ratio of -101.37 and a beta of 1.69. The business has a fifty day moving average of $59.64 and a two-hundred day moving average of $58.72. SL Green Realty Corporation has a fifty-two week low of $45.15 and a fifty-two week high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.26. The business had revenue of $147.54 million during the quarter, compared to analyst estimates of $171.24 million. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%.The company's revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. On average, sell-side analysts expect that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.2575 dividend. The ex-dividend date is Friday, August 29th. This represents a dividend yield of 560.0%. SL Green Realty's dividend payout ratio is -572.22%.

About SL Green Realty

3SL Green Realty Corp., Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.