Victory Capital Management Inc. Acquires 869 Shares of SL Green Realty Corp. (NYSE:SLG)

Victory Capital Management Inc. lifted its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,520 shares of the real estate investment trust’s stock after purchasing an additional 869 shares during the period. Victory Capital Management Inc.’s holdings in SL Green Realty were worth $1,276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in SL Green Realty in the second quarter worth approximately $29,000. Rothschild Investment LLC bought a new position in SL Green Realty in the second quarter worth approximately $55,000. Fidelis Capital Partners LLC bought a new position in SL Green Realty in the first quarter worth approximately $55,000. GAMMA Investing LLC boosted its holdings in SL Green Realty by 6.3% in the first quarter. GAMMA Investing LLC now owns 3,305 shares of the real estate investment trust’s stock worth $182,000 after acquiring an additional 196 shares in the last quarter. Finally, Meeder Advisory Services Inc. bought a new position in SL Green Realty in the first quarter worth approximately $201,000. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of SLG opened at $72.21 on Friday. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of -8.74, a PEG ratio of 2.22 and a beta of 1.83. The stock has a 50 day moving average of $64.56 and a 200 day moving average of $56.93. SL Green Realty Corp. has a 12 month low of $28.55 and a 12 month high of $73.80.

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

SL Green Realty Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Friday, August 30th. SL Green Realty’s dividend payout ratio is currently -36.32%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price target on SL Green Realty from $43.00 to $63.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. Citigroup raised SL Green Realty from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $44.00 to $66.00 in a research note on Friday, September 13th. Scotiabank increased their price objective on SL Green Realty from $53.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 7th. Compass Point raised SL Green Realty from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $35.00 to $60.00 in a research note on Wednesday. Finally, Truist Financial increased their price objective 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. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.64.

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.