Bank of New York Mellon Corp Raises Position in SL Green Realty Corporation $SLG

Bank of New York Mellon Corp grew its holdings in shares of SL Green Realty Corporation (NYSE:SLG) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 632,463 shares of the real estate investment trust’s stock after acquiring an additional 21,853 shares during the period. Bank of New York Mellon Corp owned about 0.89% of SL Green Realty worth $39,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Wolverine Asset Management LLC increased its position in SL Green Realty by 156.1% in the first quarter. Wolverine Asset Management LLC now owns 12,716 shares of the real estate investment trust’s stock worth $734,000 after buying an additional 7,750 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of SL Green Realty by 36.9% during the 1st quarter. Intech Investment Management LLC now owns 48,390 shares of the real estate investment trust’s stock valued at $2,792,000 after acquiring an additional 13,048 shares during the period. Goldman Sachs Group Inc. increased its holdings in SL Green Realty by 8.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,695,862 shares of the real estate investment trust’s stock worth $97,851,000 after acquiring an additional 130,206 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in SL Green Realty by 10.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 524,251 shares of the real estate investment trust’s stock worth $30,249,000 after acquiring an additional 50,450 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in SL Green Realty by 2.6% during 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 purchasing an additional 283,009 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

SL Green Realty Price Performance

NYSE:SLG opened at $49.84 on Thursday. The business’s 50-day moving average is $56.84 and its 200 day moving average is $58.07. SL Green Realty Corporation has a 12 month low of $45.15 and a 12 month high of $80.90. The company has a market capitalization of $3.55 billion, a P/E ratio of 4,988.79 and a beta of 1.75. The company has a current ratio of 3.22, a quick ratio of 2.72 and a debt-to-equity ratio of 1.04.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.24. The business had revenue of $149.67 million for the quarter, compared to the consensus estimate of $170.27 million. SL Green Realty had a negative return on equity of 0.22% and a net margin of 1.75%.The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS. On average, equities research analysts forecast 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. Shareholders of record on Friday, October 31st will be given a dividend of $0.2575 per share. The ex-dividend date is Friday, October 31st. This represents a c) annualized dividend and a yield of 6.2%. SL Green Realty’s dividend payout ratio (DPR) is 30,900.00%.

Insider Activity at SL Green Realty

In other news, Director Carol N. Brown sold 937 shares of the business’s stock in a transaction dated 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 is available through the SEC website. 5.04% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of SL Green Realty from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, October 27th. Weiss Ratings reissued a “sell (d+)” rating on shares of SL Green Realty in a report on Wednesday, October 8th. Evercore ISI lowered their price objective on SL Green Realty from $72.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Bank of America cut their target price on SL Green Realty from $64.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, October 17th. Finally, Scotiabank set a $66.00 target price on SL Green Realty and gave the company a “sector outperform” rating in a research note on Friday, October 24th. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, SL Green Realty currently has a consensus rating of “Hold” and an average price target of $64.33.

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.