UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $30.25 Million Position in SL Green Realty Corporation $SLG

Key Points

• UBS Asset Management increased its stake in SL Green Realty Corporation by 10.6%, owning approximately $30.25 million worth of shares as of the latest filing.
• Analysts have mixed views on SL Green Realty with ratings ranging from "sector outperform" by Scotiabank to a "sell" rating by Wall Street Zen, with a consensus price target of $67.79.
• SL Green Realty recently reported an earnings per share (EPS) of $1.63, surpassing estimates, alongside a quarterly revenue of $147.54 million, up 8.6% year-over-year.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) by 10.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 524,251 shares of the real estate investment trust's stock after buying an additional 50,450 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.74% of SL Green Realty worth $30,249,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SLG. Nuveen LLC acquired a new position in shares of SL Green Realty in the 1st quarter valued at approximately $87,878,000. Vanguard Group Inc. grew its position in shares of SL Green Realty by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 11,113,302 shares of the real estate investment trust's stock valued at $641,238,000 after purchasing an additional 283,009 shares during the period. GAMMA Investing LLC grew its position in shares of SL Green Realty by 5,759.5% in the 1st quarter. GAMMA Investing LLC now owns 245,629 shares of the real estate investment trust's stock valued at $14,173,000 after purchasing an additional 241,437 shares during the period. Vision Capital Corp acquired a new position in shares of SL Green Realty in the 1st quarter valued at approximately $11,540,000. Finally, Zimmer Partners LP acquired a new position in shares of SL Green Realty in the 4th quarter valued at approximately $11,192,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Scotiabank upgraded SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 price objective for the company in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SL Green Realty in a research note on Friday, May 23rd. JPMorgan Chase & Co. cut their target price on SL Green Realty from $70.00 to $69.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Evercore ISI boosted their target price on SL Green Realty from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Wall Street Zen cut SL Green Realty from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $67.79.

SL Green Realty Stock Performance

SLG opened at $64.99 on Tuesday. The firm has a market cap of $4.63 billion, a P/E ratio of -120.35 and a beta of 1.74. SL Green Realty Corporation has a 52-week low of $45.15 and a 52-week high of $82.81. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.72 and a current ratio of 2.72. The business's fifty day moving average is $58.47 and its 200-day moving average is $57.98.

SL Green Realty (NYSE:SLG - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.26. The company had revenue of $147.54 million for 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%.SL Green Realty's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 EPS. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. Sell-side analysts expect that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently disclosed a aug 25 dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.2575 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a yield of 543.0%. SL Green Realty's dividend payout ratio (DPR) is -572.22%.

Insiders Place Their Bets

In related news, Director Carol N. Brown sold 937 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $63.09, for a total value of $59,115.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.04% of the stock is owned by company insiders.

SL Green Realty Company Profile

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.

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