MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in SL Green Realty Corp. (NYSE:SLG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in SL Green Realty Corp. (NYSE:SLG) by 78.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,881 shares of the real estate investment trust’s stock after buying an additional 28,101 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.10% of SL Green Realty worth $4,339,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new position in SL Green Realty in the 4th quarter valued at $39,000. Quadrant Capital Group LLC lifted its holdings in SL Green Realty by 37.4% in the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 208 shares during the period. Summit Securities Group LLC acquired a new stake in SL Green Realty in the fourth quarter valued at $88,000. FIL Ltd lifted its holdings in SL Green Realty by 53.3% in the fourth quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 550 shares during the period. Finally, Blue Trust Inc. lifted 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 valued at $116,000 after acquiring an additional 857 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SLG has been the subject of a number of recent analyst reports. Evercore ISI raised SL Green Realty from an “in-line” rating to an “outperform” rating and reduced their target price for the company from $74.00 to $73.00 in a report on Monday, March 17th. Truist Financial reduced their target price on SL Green Realty from $62.00 to $54.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Bank of America reduced their target price on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Jefferies Financial Group initiated coverage on SL Green Realty in a report on Monday, March 17th. They issued a “hold” rating and a $58.00 target price for the company. Finally, Scotiabank reduced their target price 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 investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, SL Green Realty has an average rating of “Hold” and an average price target of $66.33.

SL Green Realty Trading Down 0.8%

SL Green Realty stock opened at $58.36 on Tuesday. The stock has a market cap of $4.16 billion, a PE ratio of 729.50, a P/E/G ratio of 5.30 and a beta of 1.59. The stock has a 50-day moving average price of $54.85 and a 200 day moving average price of $64.13. SL Green Realty Corp. has a 52 week low of $45.15 and a 52 week high of $82.81. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90.

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

SL Green Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 1.76%. SL Green Realty’s dividend payout ratio is presently -735.71%.

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.