Meeder Advisory Services Inc. Increases Stock Position in SL Green Realty Corp. (NYSE:SLG)

Meeder Advisory Services Inc. raised its position in SL Green Realty Corp. (NYSE:SLG) by 26.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,610 shares of the real estate investment trust’s stock after buying an additional 961 shares during the period. Meeder Advisory Services Inc.’s holdings in SL Green Realty were worth $261,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. International Assets Investment Management LLC raised its holdings in SL Green Realty by 8,523.6% in the 4th quarter. International Assets Investment Management LLC now owns 9,486 shares of the real estate investment trust’s stock worth $428,000 after purchasing an additional 9,376 shares during the period. Victory Capital Management Inc. raised its stake in shares of SL Green Realty by 3.6% during the 4th quarter. Victory Capital Management Inc. now owns 24,223 shares of the real estate investment trust’s stock worth $1,094,000 after buying an additional 851 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of SL Green Realty by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,024,383 shares of the real estate investment trust’s stock valued at $46,271,000 after buying an additional 30,289 shares in the last quarter. Independent Advisor Alliance acquired a new stake in SL Green Realty in the 4th quarter valued at $1,036,000. Finally, Norges Bank purchased a new stake in SL Green Realty in the 4th quarter worth $18,664,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

SLG has been the topic of several research analyst reports. StockNews.com upgraded shares of SL Green Realty to a “sell” rating in a research report on Friday, July 19th. Scotiabank lifted their price objective on SL Green Realty from $53.00 to $68.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 7th. The Goldman Sachs Group increased their target price on SL Green Realty from $38.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Truist Financial lifted their price target on SL Green Realty from $47.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, Citigroup raised SL Green Realty from a “sell” rating to a “neutral” rating and increased their price objective for the company from $44.00 to $66.00 in a research note on Friday. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SL Green Realty presently has a consensus rating of “Hold” and a consensus price target of $56.50.

SL Green Realty Trading Up 1.6 %

Shares of SLG opened at $69.40 on Monday. SL Green Realty Corp. has a 12-month low of $28.55 and a 12-month high of $71.31. The firm has a market capitalization of $4.52 billion, a P/E ratio of -8.40, a P/E/G ratio of 2.15 and a beta of 1.83. The firm has a 50-day moving average price of $63.49 and a 200 day moving average price of $56.41. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.98.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.09. The business had revenue of $222.82 million during the quarter, compared to analysts’ expectations of $133.83 million. SL Green Realty had a negative net margin of 19.31% and a negative return on equity of 3.92%. The business’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.43 EPS. Sell-side analysts forecast that SL Green Realty Corp. will post 7.58 EPS for the current year.

SL Green Realty Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.00 dividend on an annualized basis and a yield of 4.32%. SL Green Realty’s dividend 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.