Vident Advisory LLC Reduces Stake in SL Green Realty Corp. (NYSE:SLG)

Vident Advisory LLC lowered its position in SL Green Realty Corp. (NYSE:SLG - Free Report) by 41.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,568 shares of the real estate investment trust's stock after selling 11,127 shares during the period. Vident Advisory LLC's holdings in SL Green Realty were worth $1,057,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Two Sigma Advisers LP grew its stake in shares of 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 valued at $1,652,000 after purchasing an additional 301 shares during the period. ProShare Advisors LLC grew its position in SL Green Realty by 55.9% during the fourth quarter. ProShare Advisors LLC now owns 21,247 shares of the real estate investment trust's stock valued at $1,443,000 after buying an additional 7,617 shares during the period. Nissay Asset Management Corp Japan ADV increased its holdings in SL Green Realty by 12.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 10,010 shares of the real estate investment trust's stock valued at $663,000 after buying an additional 1,072 shares during the last quarter. Nuveen Asset Management LLC raised its position in SL Green Realty by 3.0% in the fourth quarter. Nuveen Asset Management LLC now owns 1,636,907 shares of the real estate investment trust's stock worth $111,179,000 after acquiring an additional 46,988 shares during the period. Finally, Morse Asset Management Inc raised its position in SL Green Realty by 2.2% in the fourth quarter. Morse Asset Management Inc now owns 21,750 shares of the real estate investment trust's stock worth $1,477,000 after acquiring an additional 475 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.

SL Green Realty Stock Up 2.6%

Shares of SLG stock traded up $1.45 during trading hours on Tuesday, reaching $56.93. 610,951 shares of the company's stock were exchanged, compared to its average volume of 840,105. SL Green Realty Corp. has a 1 year low of $45.15 and a 1 year high of $82.81. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The stock has a market cap of $4.06 billion, a PE ratio of 711.63, a PEG ratio of 5.30 and a beta of 1.59. The stock's fifty day moving average price is $54.72 and its two-hundred day moving average price is $63.32.

SL Green Realty (NYSE:SLG - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.13. The company had revenue of $144.52 million during the quarter, compared to analysts' expectations of $158.44 million. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. Research analysts predict that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Friday, May 30th. SL Green Realty's payout ratio is -735.71%.

Wall Street Analyst Weigh In

SLG has been the subject of a number of analyst reports. Wall Street Zen cut SL Green Realty from a "hold" rating to a "sell" rating in a research report on Saturday. Scotiabank reduced their target price on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Barclays lowered their target price on shares of 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. Truist Financial reduced their price target on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Finally, Morgan Stanley boosted their price objective on shares of SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $66.33.

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.