Nuveen Asset Management LLC Increases Position in SL Green Realty Corp. (NYSE:SLG)

Nuveen Asset Management LLC increased its stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,636,907 shares of the real estate investment trust's stock after acquiring an additional 46,988 shares during the quarter. Nuveen Asset Management LLC owned about 2.48% of SL Green Realty worth $111,179,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SLG. Barclays PLC grew its position in SL Green Realty by 304.8% during the 3rd quarter. Barclays PLC now owns 110,866 shares of the real estate investment trust's stock worth $7,718,000 after purchasing an additional 83,478 shares during the last quarter. Franklin Resources Inc. purchased a new position in SL Green Realty during the 3rd quarter worth $621,000. HB Wealth Management LLC purchased a new position in SL Green Realty during the 4th quarter worth $304,000. Janney Montgomery Scott LLC grew its position in SL Green Realty by 23.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 65,933 shares of the real estate investment trust's stock worth $4,478,000 after purchasing an additional 12,424 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC grew its position in SL Green Realty by 1.8% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 102,317 shares of the real estate investment trust's stock worth $6,949,000 after purchasing an additional 1,764 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Price Performance

Shares of NYSE SLG traded down $0.16 on Tuesday, hitting $58.27. The company's stock had a trading volume of 420,160 shares, compared to its average volume of 838,401. SL Green Realty Corp. has a 12-month low of $45.15 and a 12-month high of $82.81. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 728.38, a price-to-earnings-growth ratio of 5.30 and a beta of 1.59. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. The stock has a 50 day moving average of $54.85 and a 200-day moving average of $64.13.

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

SL Green Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, May 30th. SL Green Realty's payout ratio is -735.71%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SLG. Wells Fargo & Company dropped their price objective on shares of SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Monday. Jefferies Financial Group began coverage on shares of SL Green Realty in a research report on Monday, March 17th. They issued a "hold" rating and a $58.00 price objective for the company. Barclays lowered their price objective on SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Bank of America cut their target price on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Finally, Scotiabank reduced their price target on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $66.33.

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.