SL Green Realty Corp. (NYSE:SLG) Shares Bought by Venturi Wealth Management LLC

Venturi Wealth Management LLC lifted its position in shares of SL Green Realty Corp. (NYSE:SLG) by 272.0% in the third quarter, Holdings Channel reports. The institutional investor owned 372 shares of the real estate investment trust’s stock after acquiring an additional 272 shares during the quarter. Venturi Wealth Management LLC’s holdings in SL Green Realty were worth $26,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SLG. Allspring Global Investments Holdings LLC acquired a new stake in SL Green Realty during the second quarter worth $29,000. Friedenthal Financial acquired a new stake in shares of SL Green Realty during the 3rd quarter worth about $49,000. Rothschild Investment LLC purchased a new stake in SL Green Realty in the 2nd quarter valued at about $55,000. Blue Trust Inc. lifted its position in SL Green Realty by 363.2% in the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 632 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its stake in SL Green Realty by 6.6% during the third quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 144 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Compass Point set a $65.00 price objective on shares of SL Green Realty and gave the stock a “neutral” rating in a report on Friday, October 18th. Bank of America raised their price target on SL Green Realty from $59.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Barclays boosted their price objective on SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Citigroup upgraded SL Green Realty from a “sell” rating to a “neutral” rating and raised their target price for the company from $44.00 to $66.00 in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of SL Green Realty from $44.00 to $51.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, SL Green Realty has a consensus rating of “Hold” and a consensus price target of $65.57.

SL Green Realty Stock Performance

NYSE SLG opened at $75.64 on Friday. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06. The business’s 50 day moving average is $72.72 and its two-hundred day moving average is $63.24. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of -30.26, a PEG ratio of 2.01 and a beta of 1.82. SL Green Realty Corp. has a 12-month low of $32.78 and a 12-month high of $82.81.

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

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Thursday, October 31st. SL Green Realty’s dividend payout ratio (DPR) is -120.00%.

SL Green Realty 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.