SL Green Realty Corporation $SLG Stock Holdings Lowered by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has reduced its holdings in SL Green Realty Corporation by 31.8% during the first quarter, owning now 1,974,377 shares after selling 919,077 shares.
• SL Green Realty recently reported earnings of $1.63 per share, exceeding analysts' expectations, but its revenue of $147.54 million fell short of estimates of $171.24 million.
• Additionally, SL Green Realty announced a dividend of $0.2575 per share to be paid on September 15th, with an ex-dividend date of August 29th, despite a negative dividend payout ratio of -572.22%.

Wellington Management Group LLP cut its holdings in SL Green Realty Corporation (NYSE:SLG - Free Report) by 31.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,974,377 shares of the real estate investment trust's stock after selling 919,077 shares during the period. Wellington Management Group LLP owned about 2.77% of SL Green Realty worth $113,922,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Summit Place Financial Advisors LLC boosted its holdings in shares of SL Green Realty by 149.6% in the 1st quarter. Summit Place Financial Advisors LLC now owns 17,845 shares of the real estate investment trust's stock valued at $1,030,000 after buying an additional 10,695 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of SL Green Realty by 6.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,741 shares of the real estate investment trust's stock valued at $389,000 after buying an additional 384 shares during the period. KBC Group NV boosted its holdings in shares of SL Green Realty by 20.9% in the 1st quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust's stock valued at $193,000 after buying an additional 577 shares during the period. Wolverine Asset Management LLC boosted its holdings in shares of SL Green Realty by 156.1% in the 1st quarter. Wolverine Asset Management LLC now owns 12,716 shares of the real estate investment trust's stock valued at $734,000 after buying an additional 7,750 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of SL Green Realty by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 348,870 shares of the real estate investment trust's stock valued at $20,130,000 after buying an additional 6,112 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Price Performance

Shares of SLG stock traded up $1.24 during midday trading on Wednesday, reaching $56.87. 860,544 shares of the company were exchanged, compared to its average volume of 857,212. SL Green Realty Corporation has a 12 month low of $45.15 and a 12 month high of $82.81. The company has a market cap of $4.06 billion, a P/E ratio of -105.32 and a beta of 1.69. The company's 50 day moving average price is $58.95 and its two-hundred day moving average price is $58.45. 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 released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $147.54 million for the quarter, compared to the consensus estimate of $171.24 million. During the same period in the previous year, the firm earned $2.05 EPS. SL Green Realty'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. On average, sell-side analysts expect that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

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

Insider Activity at SL Green Realty

In other SL Green Realty news, Director Carol N. Brown sold 2,500 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $60.61, for a total transaction of $151,525.00. Following the sale, the director directly owned 937 shares in the company, valued at approximately $56,791.57. The trade was a 72.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of SL Green Realty from $70.00 to $69.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. Truist Financial boosted their target price on shares of SL Green Realty from $54.00 to $58.00 and gave the company a "hold" rating in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of SL Green Realty in a research note on Friday, May 23rd. Wells Fargo & Company reduced their target price on shares of 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. Finally, Evercore ISI reduced their target price on shares of SL Green Realty from $74.00 to $73.00 and set an "outperform" rating for the company in a research note on Monday, August 18th. Four investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $67.29.

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.