Gilman Hill Asset Management LLC increased its position in SL Green Realty Corp. (NYSE:SLG – Get Rating) by 20.3% in the second quarter, HoldingsChannel reports. The firm owned 111,631 shares of the real estate investment trust’s stock after acquiring an additional 18,836 shares during the period. Gilman Hill Asset Management LLC’s holdings in SL Green Realty were worth $5,152,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in SL Green Realty by 14.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,071 shares of the real estate investment trust’s stock worth $372,000 after purchasing an additional 1,019 shares during the period. State of Alaska Department of Revenue acquired a new position in SL Green Realty in the 2nd quarter worth approximately $1,845,000. Confluence Investment Management LLC boosted its stake in SL Green Realty by 54.3% in the 2nd quarter. Confluence Investment Management LLC now owns 2,079,154 shares of the real estate investment trust’s stock worth $95,953,000 after purchasing an additional 731,500 shares during the period. Bank of America Corp DE boosted its stake in SL Green Realty by 13.3% in the 1st quarter. Bank of America Corp DE now owns 280,513 shares of the real estate investment trust’s stock worth $22,772,000 after purchasing an additional 33,001 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of SL Green Realty during the 1st quarter valued at $1,341,000. Institutional investors and hedge funds own 89.19% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently weighed in on SLG shares. Truist Financial upgraded shares of SL Green Realty from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Wednesday, September 14th. Jefferies Financial Group reduced their price target on shares of SL Green Realty from $78.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, June 30th. Piper Sandler dropped their target price on shares of SL Green Realty to $52.00 in a research note on Friday, July 22nd. Credit Suisse Group assumed coverage on shares of SL Green Realty in a research note on Wednesday, June 22nd. They issued a “neutral” rating and a $51.00 target price for the company. Finally, Mizuho reduced their price target on shares of SL Green Realty from $77.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, July 6th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $58.00.
SL Green Realty Trading Down 4.2 %
SL Green Realty (NYSE:SLG – Get Rating) last issued its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.76). SL Green Realty had a return on equity of 6.35% and a net margin of 40.01%. The company had revenue of $155.20 million during the quarter, compared to analysts’ expectations of $157.74 million. During the same period last year, the firm posted $1.65 earnings per share. SL Green Realty’s quarterly revenue was down 15.9% compared to the same quarter last year. As a group, research analysts forecast that SL Green Realty Corp. will post 6.75 EPS for the current year.
SL Green Realty Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a $0.3108 dividend. This represents a $3.73 annualized dividend and a dividend yield of 9.09%. The ex-dividend date is Thursday, September 29th. SL Green Realty’s dividend payout ratio (DPR) is 82.60%.
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.
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