Hsbc Holdings PLC Boosts Stake in SL Green Realty Corp. (NYSE:SLG)

Hsbc Holdings PLC grew its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 37.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,485 shares of the real estate investment trust's stock after purchasing an additional 17,815 shares during the quarter. Hsbc Holdings PLC owned about 0.10% of SL Green Realty worth $4,448,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SLG. Jones Financial Companies Lllp acquired a new stake in shares of SL Green Realty during the fourth quarter worth $39,000. Quadrant Capital Group LLC grew its holdings in SL Green Realty by 37.4% during the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 208 shares during the period. Versant Capital Management Inc boosted its stake in shares of SL Green Realty by 17.7% during the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 157 shares during the period. Summit Securities Group LLC acquired a new position in shares of SL Green Realty in the fourth quarter valued at $88,000. Finally, FIL Ltd grew its stake in SL Green Realty by 53.3% in the 4th quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust's stock valued at $107,000 after buying an additional 550 shares during the last quarter. Institutional investors own 89.96% of the company's stock.

SL Green Realty Price Performance

NYSE SLG traded up $1.84 during trading hours on Friday, reaching $55.36. The company's stock had a trading volume of 591,920 shares, compared to its average volume of 849,541. SL Green Realty Corp. has a 1 year low of $45.15 and a 1 year high of $82.81. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 692.00, a PEG ratio of 5.30 and a beta of 1.61. The firm's 50-day moving average price is $56.07 and its 200-day moving average price is $65.89.

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

SL Green Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Wednesday, April 30th. SL Green Realty's dividend payout ratio is presently -735.71%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SLG. Barclays dropped their price objective on SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday. Piper Sandler cut their price target on SL Green Realty from $90.00 to $72.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Evercore ISI raised shares of SL Green Realty from an "in-line" rating to an "outperform" rating and reduced their price objective for the stock from $74.00 to $73.00 in a research note on Monday, March 17th. Truist Financial decreased their target price on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company lowered their price objective on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $67.07.

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.