Vident Advisory LLC Cuts Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

Vident Advisory LLC lessened its stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 41.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 15,568 shares of the real estate investment trust's stock after selling 11,127 shares during the quarter. Vident Advisory LLC's holdings in SL Green Realty were worth $1,057,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Jones Financial Companies Lllp bought a new stake in shares of SL Green Realty during the 4th quarter worth $39,000. Quadrant Capital Group LLC lifted its holdings in SL Green Realty by 37.4% during the 4th quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock worth $52,000 after buying an additional 208 shares during the period. Summit Securities Group LLC acquired a new position in SL Green Realty during the 4th quarter worth about $88,000. FIL Ltd lifted its holdings in SL Green Realty by 53.3% during the 4th quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust's stock worth $107,000 after buying an additional 550 shares during the period. Finally, Blue Trust Inc. lifted its holdings in SL Green Realty by 106.3% during the 4th quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock worth $116,000 after buying an additional 857 shares during the period. 89.96% of the stock is owned by institutional investors.

SL Green Realty Stock Performance

SLG traded up $0.54 during trading hours on Thursday, hitting $58.00. The stock had a trading volume of 112,284 shares, compared to its average volume of 838,558. The company's fifty day simple moving average is $54.69 and its 200 day simple moving average is $63.24. SL Green Realty Corp. has a 1 year low of $45.15 and a 1 year high of $82.81. The stock has a market cap of $4.14 billion, a PE ratio of 723.94, a price-to-earnings-growth ratio of 5.30 and a beta of 1.59. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90.

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

SL Green Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Friday, May 30th. SL Green Realty's payout ratio is presently -735.71%.

Analysts Set New Price Targets

SLG has been the topic of several recent research reports. Truist Financial cut their target price on SL Green Realty from $62.00 to $54.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Jefferies Financial Group began coverage on SL Green Realty in a research note on Monday, March 17th. They issued a "hold" rating and a $58.00 price objective on the stock. Evercore ISI raised SL Green Realty from an "in-line" rating to an "outperform" rating and dropped their price objective for the company from $74.00 to $73.00 in a research note on Monday, March 17th. Wells Fargo & Company dropped their price objective on SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Finally, Morgan Stanley boosted their price objective on SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $66.33.

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.