Mutual of America Capital Management LLC Decreases Stock Position in SL Green Realty Corp. (NYSE:SLG)

Mutual of America Capital Management LLC cut its stake in SL Green Realty Corp. (NYSE:SLG) by 8.5% in the third quarter, Holdings Channel.com reports. The firm owned 9,749 shares of the real estate investment trust’s stock after selling 903 shares during the quarter. Mutual of America Capital Management LLC’s holdings in SL Green Realty were worth $679,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Virtu Financial LLC acquired a new position in SL Green Realty during the first quarter worth $237,000. Swedbank AB purchased a new position in SL Green Realty during the 1st quarter valued at about $4,675,000. DekaBank Deutsche Girozentrale grew its position 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 valued at $3,665,000 after acquiring an additional 10,704 shares in the last quarter. Tandem Capital Management Corp ADV increased its stake in SL Green Realty by 13.5% during the second quarter. Tandem Capital Management Corp ADV now owns 62,333 shares of the real estate investment trust’s stock worth $3,428,000 after purchasing an additional 7,428 shares during the period. Finally, Gilman Hill Asset Management LLC boosted its stake in shares of SL Green Realty by 2.1% in the second quarter. Gilman Hill Asset Management LLC now owns 185,367 shares of the real estate investment trust’s stock valued at $10,499,000 after purchasing an additional 3,758 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Evercore ISI upped 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. The Goldman Sachs Group upped their price objective on SL Green Realty from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Morgan Stanley lifted their target price on SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Compass Point set a $65.00 price target on SL Green Realty and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $90.00 price target (up previously from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $66.00.

SL Green Realty Stock Down 1.0 %

Shares of SL Green Realty stock opened at $78.17 on Wednesday. SL Green Realty Corp. has a 52-week low of $32.78 and a 52-week high of $82.81. The stock has a 50-day simple moving average of $74.24 and a 200-day simple moving average of $64.73. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of -31.27, a P/E/G ratio of 2.10 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS 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 firm had revenue of $229.69 million during the quarter, compared to the consensus estimate of $136.66 million. During the same period last year, the business earned $1.27 earnings per share. On average, equities research analysts expect that SL Green Realty Corp. will post 7.6 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The business 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 is Friday, November 29th. This represents a $3.00 dividend on an annualized basis and a yield of 3.84%. SL Green Realty’s dividend payout ratio is presently -120.00%.

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.