First Citizens Bank & Trust Co. Takes $449,000 Position in SL Green Realty Corporation $SLG

First Citizens Bank & Trust Co. purchased a new stake in SL Green Realty Corporation (NYSE:SLG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,253 shares of the real estate investment trust’s stock, valued at approximately $449,000.

A number of other large investors have also made changes to their positions in SLG. Nuveen LLC acquired a new stake in shares of SL Green Realty during the first quarter valued at $87,878,000. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 283,009 shares during the last quarter. Vision Capital Corp acquired a new stake in shares of SL Green Realty during the first quarter valued at $11,540,000. Aberdeen Group plc boosted its stake in shares of SL Green Realty by 633.1% during the first quarter. Aberdeen Group plc now owns 162,294 shares of the real estate investment trust’s stock valued at $9,364,000 after acquiring an additional 140,157 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of 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 acquiring an additional 130,206 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

SLG has been the topic of a number of analyst reports. New Street Research set a $72.00 price objective on SL Green Realty in a research note on Thursday, October 9th. Bank of America decreased their price target on SL Green Realty from $64.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, October 17th. Piper Sandler reissued an “overweight” rating on shares of SL Green Realty in a research note on Wednesday. Weiss Ratings reissued a “sell (d+)” rating on shares of SL Green Realty in a research note on Friday. Finally, Truist Financial set a $54.00 price target on SL Green Realty and gave the stock a “hold” rating in a research note on Tuesday. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $64.67.

Insider Buying and Selling at SL Green Realty

In other news, Director Carol N. Brown sold 937 shares of SL Green Realty stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $63.09, for a total value of $59,115.33. The transaction was disclosed in a document filed with the SEC, which is available through this link. 5.04% of the stock is owned by corporate insiders.

SL Green Realty Stock Performance

NYSE SLG opened at $51.88 on Friday. The firm has a market capitalization of $3.70 billion, a P/E ratio of 5,192.99 and a beta of 1.77. SL Green Realty Corporation has a 1-year low of $45.15 and a 1-year high of $82.81. The company has a debt-to-equity ratio of 1.04, a current ratio of 3.22 and a quick ratio of 2.72. The business’s 50-day simple moving average is $58.13 and its 200-day simple moving average is $58.11.

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 for the quarter, beating the consensus estimate of $1.34 by $0.24. The business had revenue of $149.67 million for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $1.26 EPS. Equities analysts predict that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

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

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.