Probity Advisors Inc. Grows Holdings in SL Green Realty Corporation $SLG

Probity Advisors Inc. increased its holdings in SL Green Realty Corporation (NYSE:SLG) by 28.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,644 shares of the real estate investment trust’s stock after buying an additional 1,893 shares during the period. Probity Advisors Inc.’s holdings in SL Green Realty were worth $535,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC raised its stake in shares of SL Green Realty by 54.5% in the first quarter. Fourth Dimension Wealth LLC now owns 1,700 shares of the real estate investment trust’s stock valued at $98,000 after buying an additional 600 shares during the period. State of Wyoming purchased a new position in shares of SL Green Realty during the first quarter worth about $172,000. KBC Group NV increased its stake in SL Green Realty by 20.9% in the first quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust’s stock valued at $193,000 after acquiring an additional 577 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of SL Green Realty by 13.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,889 shares of the real estate investment trust’s stock worth $224,000 after acquiring an additional 466 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of SL Green Realty in the 2nd quarter valued at about $225,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of SLG stock opened at $51.72 on Tuesday. The company has a market capitalization of $3.69 billion, a P/E ratio of 5,177.08 and a beta of 1.77. The business’s 50 day moving average is $58.30 and its two-hundred day moving average is $58.07. 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 Corporation has a 12-month low of $45.15 and a 12-month high of $82.81.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results 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 firm 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 business’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share. Analysts expect that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Investors 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 yield of 6.0%. SL Green Realty’s dividend payout ratio is currently 30,900.00%.

Insider Activity

In other news, Director Carol N. Brown sold 937 shares of the business’s 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 is available through the SEC website. Insiders own 5.04% of the company’s stock.

Wall Street Analysts Forecast Growth

SLG has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of SL Green Realty in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on SL Green Realty from $69.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. LADENBURG THALM/SH SH started coverage on shares of SL Green Realty in a report on Monday, October 13th. They issued a “neutral” rating and a $63.00 target price for the company. Evercore ISI reduced their target price on SL Green Realty from $72.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Truist Financial boosted their target price on SL Green Realty from $54.00 to $58.00 and gave the company a “hold” rating in a research report on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $65.27.

SL Green Realty Company 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.