Nuveen Asset Management LLC Acquires 46,988 Shares of SL Green Realty Corp. (NYSE:SLG)

Nuveen Asset Management LLC raised its holdings in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,636,907 shares of the real estate investment trust's stock after buying an additional 46,988 shares during the period. Nuveen Asset Management LLC owned about 2.48% of SL Green Realty worth $111,179,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp acquired a new stake in shares of SL Green Realty during the fourth quarter worth approximately $39,000. Quadrant Capital Group LLC increased its stake in shares of 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 purchasing an additional 208 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of SL Green Realty during the 4th quarter valued at $88,000. FIL Ltd lifted its stake in shares of 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 purchasing an additional 550 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in SL Green Realty by 106.3% in the fourth quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock worth $116,000 after purchasing an additional 857 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Price Performance

Shares of SLG traded down $0.58 during mid-day trading on Thursday, hitting $54.98. 311,239 shares of the company traded hands, compared to its average volume of 838,189. 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 capitalization of $3.92 billion, a price-to-earnings ratio of 686.49, a PEG ratio of 5.30 and a beta of 1.59. The business has a 50-day moving average of $54.89 and a 200 day moving average of $64.03. SL Green Realty Corp. has a one year low of $45.15 and a one year high of $82.81.

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

SL Green Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.2575 per share. The ex-dividend date is Friday, May 30th. This represents a $1.03 dividend on an annualized basis and a yield of 1.87%. SL Green Realty's payout ratio is presently -735.71%.

Wall Street Analysts Forecast Growth

SLG has been the subject of a number of analyst reports. Bank of America reduced their price target on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a research report on Monday, January 27th. Morgan Stanley upped their target price on SL Green Realty from $52.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 12th. Piper Sandler dropped their price objective 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. Truist Financial reduced their price target on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Finally, Evercore ISI raised SL Green Realty from an "in-line" rating to an "outperform" rating and decreased their price objective for the stock from $74.00 to $73.00 in a report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, SL Green Realty has an average 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.