OVERSEA CHINESE BANKING Corp Ltd Has $3.83 Million Holdings in SL Green Realty Corporation $SLG

OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of SL Green Realty Corporation (NYSE:SLG) by 66.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,912 shares of the real estate investment trust’s stock after purchasing an additional 24,767 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned 0.09% of SL Green Realty worth $3,832,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Louisiana State Employees Retirement System boosted its stake in SL Green Realty by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 33,200 shares of the real estate investment trust’s stock worth $2,055,000 after acquiring an additional 200 shares during the last quarter. Mackenzie Financial Corp boosted its stake in SL Green Realty by 4.7% during the 1st quarter. Mackenzie Financial Corp now owns 5,324 shares of the real estate investment trust’s stock worth $307,000 after acquiring an additional 240 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in SL Green Realty by 2.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 10,257 shares of the real estate investment trust’s stock worth $592,000 after acquiring an additional 247 shares during the last quarter. KLP Kapitalforvaltning AS boosted its stake in SL Green Realty by 2.2% during the 1st quarter. KLP Kapitalforvaltning AS now owns 13,874 shares of the real estate investment trust’s stock worth $804,000 after acquiring an additional 300 shares during the last quarter. Finally, Xponance Inc. boosted its stake in SL Green Realty by 6.6% during the 1st quarter. Xponance Inc. now owns 5,745 shares of the real estate investment trust’s stock worth $331,000 after acquiring an additional 357 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Stock Performance

Shares of SLG stock opened at $51.88 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 2.72 and a current ratio of 3.22. The company has a market capitalization of $3.70 billion, a P/E ratio of 5,192.99 and a beta of 1.77. The company’s 50 day moving average price is $58.13 and its two-hundred day moving average price is $58.15. SL Green Realty Corporation has a 52 week low of $45.15 and a 52 week high of $82.81.

SL Green Realty (NYSE:SLG) last announced 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 firm had revenue of $149.67 million for the quarter, compared to the consensus estimate of $170.27 million. During the same period last year, the company posted $1.26 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts expect that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be issued a $0.2575 dividend. The ex-dividend date is Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. SL Green Realty’s dividend payout ratio (DPR) is 30,900.00%.

Insider Activity

In other news, Director Carol N. Brown sold 937 shares of SL Green Realty stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $63.09, for a total value of $59,115.33. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.04% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SLG has been the topic of several recent analyst reports. Citigroup raised shares of SL Green Realty from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $65.00 to $70.00 in a research note on Friday, September 12th. Piper Sandler reissued an “overweight” rating on shares of SL Green Realty in a research note on Wednesday. LADENBURG THALM/SH SH initiated coverage on shares of SL Green Realty in a research note on Monday, October 13th. They set a “neutral” rating and a $63.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective 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. Finally, Truist Financial set a $54.00 target price on shares of SL Green Realty and gave the stock a “hold” rating in a report on Tuesday, October 21st. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $64.67.

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.