Sei Investments Co. Trims Stake in SL Green Realty Corp. (NYSE:SLG)

Sei Investments Co. cut its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 48.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,135 shares of the real estate investment trust’s stock after selling 13,335 shares during the period. Sei Investments Co.’s holdings in SL Green Realty were worth $801,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in SL Green Realty during the 2nd quarter valued at approximately $29,000. Rothschild Investment LLC purchased a new stake in SL Green Realty during the 2nd quarter valued at approximately $55,000. Fidelis Capital Partners LLC bought a new stake in shares of SL Green Realty during the first quarter valued at approximately $55,000. GAMMA Investing LLC lifted its holdings in shares of 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 buying an additional 196 shares in the last quarter. Finally, Meeder Advisory Services Inc. bought a new position in shares of SL Green Realty during the first quarter worth $201,000. Institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. The Goldman Sachs Group raised their price target on SL Green Realty from $38.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their target price on shares of SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. upped their price target on shares of SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. StockNews.com raised shares of SL Green Realty to a “sell” rating in a research note on Friday, July 19th. Finally, Evercore ISI upgraded shares of SL Green Realty from an “underperform” rating to an “inline” rating and upped their target price for the company from $55.00 to $66.00 in a research report on Monday, September 16th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, SL Green Realty currently has an average rating of “Hold” and an average price target of $59.64.

SL Green Realty Trading Down 0.7 %

SLG opened at $66.51 on Wednesday. The stock has a market capitalization of $4.38 billion, a PE ratio of -8.05, a P/E/G ratio of 1.91 and a beta of 1.83. SL Green Realty Corp. has a one year low of $28.55 and a one year high of $73.80. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.59 and a current ratio of 2.59. The business’s 50 day moving average price is $66.24 and its 200 day moving average price is $58.58.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.09. The business had revenue of $222.82 million during the quarter, compared to analyst estimates of $133.83 million. SL Green Realty had a negative return on equity of 3.92% and a negative net margin of 19.31%. The company’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period last year, the business posted $1.43 earnings per share. As a group, equities research analysts expect 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 Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Monday, September 30th. SL Green Realty’s dividend payout ratio (DPR) is presently -36.32%.

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.