SL Green Realty Corp. (NYSE:SLG) Shares Sold by Heitman Real Estate Securities LLC

Heitman Real Estate Securities LLC reduced its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 72.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 155,281 shares of the real estate investment trust’s stock after selling 413,851 shares during the quarter. Heitman Real Estate Securities LLC’s holdings in SL Green Realty were worth $10,809,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SLG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in SL Green Realty by 396.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,170 shares of the real estate investment trust’s stock worth $31,058,000 after buying an additional 356,275 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of SL Green Realty by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock worth $88,275,000 after acquiring an additional 97,653 shares in the last quarter. Lighthouse Investment Partners LLC grew its position in shares of SL Green Realty by 150.0% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 150,000 shares of the real estate investment trust’s stock valued at $8,496,000 after acquiring an additional 90,000 shares during the period. Dimensional Fund Advisors LP grew its position in shares of SL Green Realty by 9.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust’s stock valued at $56,350,000 after acquiring an additional 88,309 shares during the period. Finally, Waterfall Asset Management LLC purchased a new position in shares of SL Green Realty in the 2nd quarter valued at about $3,172,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. BMO Capital Markets reiterated an “outperform” rating and set a $87.00 price target (up previously from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. Wells Fargo & Company lifted their price target on shares of SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. Citigroup upgraded shares of SL Green Realty from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $44.00 to $66.00 in a research report on Friday, September 13th. Evercore ISI boosted their target price on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Finally, Morgan Stanley raised their price target on shares of SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, SL Green Realty presently has a consensus rating of “Hold” and an average price target of $66.00.

SL Green Realty Stock Performance

SLG stock opened at $75.72 on Tuesday. SL Green Realty Corp. has a one year low of $39.66 and a one year high of $82.81. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. The firm’s 50 day moving average price is $74.71 and its 200-day moving average price is $65.41.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. The business had revenue of $229.69 million for the quarter, compared to analyst estimates of $136.66 million. During the same period in the previous year, the business posted $1.27 earnings per share. As a group, equities research analysts forecast that SL Green Realty Corp. will post 7.61 EPS for the current year.

SL Green Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.00 annualized dividend and a dividend yield of 3.96%. SL Green Realty’s dividend payout ratio is presently -120.00%.

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.