SG Americas Securities LLC Sells 18,998 Shares of SL Green Realty Corp. (NYSE:SLG)

SG Americas Securities LLC trimmed its position in shares of SL Green Realty Corp. (NYSE:SLG) by 88.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,507 shares of the real estate investment trust’s stock after selling 18,998 shares during the period. SG Americas Securities LLC’s holdings in SL Green Realty were worth $175,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of SL Green Realty during the second quarter valued at approximately $29,000. Fidelis Capital Partners LLC purchased a new stake in SL Green Realty in the first quarter worth $55,000. Rothschild Investment LLC bought a new stake in shares of SL Green Realty during the second quarter worth $55,000. Meeder Advisory Services Inc. purchased a new stake in shares of SL Green Realty during the first quarter valued at $201,000. Finally, Virtu Financial LLC purchased a new stake in shares of SL Green Realty during the first quarter valued at $237,000. Institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SLG shares. Morgan Stanley lifted their price objective on shares of SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. 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. Barclays lifted their target price on SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a research report on Tuesday. Truist Financial increased their price target on SL Green Realty from $47.00 to $55.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, Scotiabank lifted their price objective on SL Green Realty from $53.00 to $68.00 and gave the company a “sector perform” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $64.71.

SL Green Realty Price Performance

NYSE SLG opened at $75.58 on Thursday. The firm’s fifty day simple moving average is $68.44 and its two-hundred day simple moving average is $60.18. The firm has a market capitalization of $4.98 billion, a P/E ratio of -9.15, a P/E/G ratio of 2.18 and a beta of 1.83. The company has a current ratio of 2.58, a quick ratio of 2.59 and a debt-to-equity ratio of 1.07. SL Green Realty Corp. has a 12-month low of $28.55 and a 12-month high of $79.08.

SL Green Realty (NYSE:SLG) last announced 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). 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 analysts’ expectations of $136.66 million. During the same quarter last year, the firm earned $1.27 earnings per share. Analysts forecast that SL Green Realty Corp. will post 7.62 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a $0.25 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Thursday, October 31st. SL Green Realty’s payout ratio is currently -36.32%.

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.