Integrity Alliance LLC. Purchases New Stake in SL Green Realty Corporation $SLG

Integrity Alliance LLC. purchased a new stake in SL Green Realty Corporation (NYSE:SLG) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 5,733 shares of the real estate investment trust’s stock, valued at approximately $355,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its holdings in SL Green Realty by 6.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,741 shares of the real estate investment trust’s stock valued at $389,000 after acquiring an additional 384 shares in the last quarter. KBC Group NV raised its holdings 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 in the last quarter. Intech Investment Management LLC raised its holdings in SL Green Realty by 36.9% in the first 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 in the last quarter. Wolverine Asset Management LLC raised its holdings 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 valued at $734,000 after acquiring an additional 7,750 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in SL Green Realty by 8.3% in 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 in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SLG shares. Jefferies Financial Group raised shares of SL Green Realty from a “neutral” rating to a “buy” rating and increased their target price for the stock from $57.00 to $63.00 in a report on Monday, October 13th. New Street Research set a $72.00 target price on shares of SL Green Realty in a report on Thursday, October 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of SL Green Realty in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of SL Green Realty from $69.00 to $71.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Finally, Scotiabank set a $66.00 target price on shares of SL Green Realty and gave the stock a “sector outperform” rating in a report on Friday, October 24th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, SL Green Realty presently has an average rating of “Hold” and an average target price of $64.40.

SL Green Realty Stock Up 0.0%

SLG stock opened at $51.42 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 fifty-two week low of $45.15 and a fifty-two week high of $82.81. The firm’s 50-day simple moving average is $57.82 and its 200 day simple moving average is $58.19. The stock has a market cap of $3.67 billion, a PE ratio of 5,146.65 and a beta of 1.77.

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, topping analysts’ consensus estimates 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 business had revenue of $149.67 million for the quarter, compared to analysts’ expectations of $170.27 million. During the same quarter last year, the company earned $1.26 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side 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. Investors of record on Friday, October 31st will be issued a $0.2575 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Friday, October 31st. SL Green Realty’s dividend payout ratio (DPR) is 30,900.00%.

Insider Buying and Selling at SL Green Realty

In related news, Director Carol N. Brown sold 937 shares of the 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 legal filing with the SEC, which is available at the SEC website. 5.04% of the stock is currently owned by company insiders.

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.