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

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

Insider Buying and Selling at SL Green Realty

In other news, Director Carol N. Brown sold 937 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SLG shares. Scotiabank upgraded shares of SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 target price on the stock in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of SL Green Realty in a research report on Friday, May 23rd. Truist Financial increased their price target on SL Green Realty from $54.00 to $58.00 and gave the stock a "hold" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. decreased their price objective on SL Green Realty from $70.00 to $69.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Finally, Wall Street Zen cut shares of SL Green Realty from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, SL Green Realty presently has a consensus rating of "Hold" and an average target price of $67.79.

SL Green Realty Stock Performance

NYSE:SLG traded down $1.51 during mid-day trading on Friday, reaching $61.52. 2,142,020 shares of the company's stock were exchanged, compared to its average volume of 1,011,088. The business's fifty day simple moving average is $58.48 and its two-hundred day simple moving average is $58.06. SL Green Realty Corporation has a one year low of $45.15 and a one year high of $82.81. The firm has a market capitalization of $4.39 billion, a PE ratio of -113.92 and a beta of 1.74. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.72 and a current ratio of 2.72.

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 EPS for the quarter, beating the consensus estimate of $1.37 by $0.26. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The business had revenue of $147.54 million during the quarter, compared to the consensus estimate of $171.24 million. During the same period in the previous year, the business earned $2.05 earnings per share. The company's revenue was up 8.6% on a year-over-year basis. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. Analysts anticipate that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently announced a sep 25 dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.2575 per share. This represents a yield of 502.0%. The ex-dividend date of this dividend is Tuesday, September 30th. SL Green Realty's dividend payout ratio (DPR) is currently -572.22%.

SL Green Realty 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.