SL Green Realty Corp. (NYSE:SLG) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in SL Green Realty Corp. (NYSE:SLG) by 10.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,057 shares of the real estate investment trust’s stock after purchasing an additional 2,874 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SL Green Realty were worth $2,092,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. DekaBank Deutsche Girozentrale increased its holdings in SL Green Realty by 18.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 67,923 shares of the real estate investment trust’s stock worth $3,665,000 after acquiring an additional 10,704 shares in the last quarter. Gilman Hill Asset Management LLC raised its position in shares of SL Green Realty by 2.1% during the 2nd quarter. Gilman Hill Asset Management LLC now owns 185,367 shares of the real estate investment trust’s stock worth $10,499,000 after purchasing an additional 3,758 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in SL Green Realty by 4.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,352 shares of the real estate investment trust’s stock valued at $813,000 after buying an additional 606 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in SL Green Realty by 2.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 121,022 shares of the real estate investment trust’s stock worth $6,885,000 after buying an additional 2,797 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in SL Green Realty by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the real estate investment trust’s stock worth $1,846,000 after buying an additional 500 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Price Performance

Shares of SLG opened at $73.80 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. SL Green Realty Corp. has a 1-year low of $39.66 and a 1-year high of $82.81. The stock has a market cap of $4.87 billion, a PE ratio of -29.52, a price-to-earnings-growth ratio of 3.70 and a beta of 1.81. The firm has a fifty day moving average price of $74.76 and a 200 day moving average price of $65.56.

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

SL Green Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid 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 4.07%. SL Green Realty’s dividend payout ratio (DPR) is currently -120.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $87.00 price target (up from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. Scotiabank increased their target price on shares of SL Green Realty from $68.00 to $80.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Morgan Stanley boosted their target price on SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Evercore ISI increased their price target on SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. boosted their price objective on SL Green Realty from $44.00 to $51.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $66.00.

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.