JTC Employer Solutions Trustee Ltd Sells 15,000 Shares of SL Green Realty Corporation $SLG

JTC Employer Solutions Trustee Ltd reduced its position in SL Green Realty Corporation (NYSE:SLG) by 42.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,397 shares of the real estate investment trust’s stock after selling 15,000 shares during the quarter. JTC Employer Solutions Trustee Ltd’s holdings in SL Green Realty were worth $1,262,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of SL Green Realty by 2.6% in the first quarter. Vanguard Group Inc. now owns 11,113,302 shares of the real estate investment trust’s stock valued at $641,238,000 after acquiring an additional 283,009 shares during the period. Goldman Sachs Group Inc. lifted its position in SL Green Realty by 8.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,695,862 shares of the real estate investment trust’s stock valued at $97,851,000 after purchasing an additional 130,206 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in SL Green Realty by 8.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,554,977 shares of the real estate investment trust’s stock valued at $89,722,000 after purchasing an additional 126,969 shares during the last quarter. Nuveen LLC bought a new stake in SL Green Realty during the first quarter valued at approximately $87,878,000. Finally, Northern Trust Corp lifted its position in SL Green Realty by 2.1% during the first quarter. Northern Trust Corp now owns 1,458,980 shares of the real estate investment trust’s stock valued at $84,183,000 after purchasing an additional 29,344 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Stock Down 2.6%

Shares of NYSE SLG opened at $52.45 on Friday. The company has a quick ratio of 2.72, a current ratio of 3.22 and a debt-to-equity ratio of 1.04. SL Green Realty Corporation has a 52 week low of $45.15 and a 52 week high of $82.81. The firm’s fifty day moving average is $58.31 and its 200 day moving average is $58.03. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 5,250.35 and a beta of 1.77.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.58 EPS for the quarter, topping the consensus estimate of $1.34 by $0.24. SL Green Realty had a net margin of 1.75% and a negative return on equity of 0.22%. The company had revenue of $149.67 million for the quarter, compared to the consensus estimate of $170.27 million. During the same period in the previous year, the firm earned $1.26 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts expect that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be given a dividend of $0.2575 per share. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Friday, October 31st. SL Green Realty’s payout ratio is presently 30,900.00%.

Wall Street Analyst Weigh In

SLG has been the subject of several research analyst reports. Truist Financial lifted their target price on shares of SL Green Realty from $54.00 to $58.00 and gave the company a “hold” rating in a research report on Friday, July 18th. Citigroup raised shares of SL Green Realty from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $70.00 in a research note on Friday, September 12th. Bank of America decreased their price target on shares of SL Green Realty from $64.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday. Jefferies Financial Group raised shares of SL Green Realty from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $57.00 to $63.00 in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their price target on shares of SL Green Realty from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, SL Green Realty presently has an average rating of “Hold” and an average price target of $67.19.

Insider Transactions at SL Green Realty

In other SL Green Realty news, Director Carol N. Brown sold 937 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $63.09, for a total transaction of $59,115.33. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.04% of the company’s stock.

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.