Sumitomo Mitsui Trust Group Inc. Has $4.89 Million Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

Sumitomo Mitsui Trust Group Inc. lessened its stake in SL Green Realty Corp. (NYSE:SLG) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 70,209 shares of the real estate investment trust’s stock after selling 2,112 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.11% of SL Green Realty worth $4,887,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC grew its position in SL Green Realty by 272.0% in the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 272 shares in the last quarter. Van ECK Associates Corp grew its position in SL Green Realty by 10.4% in the third quarter. Van ECK Associates Corp now owns 30,788 shares of the real estate investment trust’s stock worth $2,327,000 after acquiring an additional 2,899 shares in the last quarter. Rosenberg Matthew Hamilton grew its position in SL Green Realty by 6.6% in the third quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock worth $161,000 after acquiring an additional 144 shares in the last quarter. US Bancorp DE grew its position in SL Green Realty by 13.2% in the third quarter. US Bancorp DE now owns 9,419 shares of the real estate investment trust’s stock worth $656,000 after acquiring an additional 1,100 shares in the last quarter. Finally, First Trust Direct Indexing L.P. bought a new stake in SL Green Realty in the third quarter worth approximately $224,000. 89.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on SLG shares. BMO Capital Markets reissued an “outperform” rating and issued a $87.00 target price (up from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. Scotiabank upped their price objective on shares of SL Green Realty from $68.00 to $80.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Piper Sandler reaffirmed an “overweight” rating and set a $90.00 price objective (up from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Evercore ISI upped their price objective on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Finally, 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. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, SL Green Realty currently has an average rating of “Hold” and an average target price of $65.57.

SL Green Realty Trading Up 1.0 %

Shares of SLG stock opened at $76.36 on Tuesday. SL Green Realty Corp. has a 52-week low of $32.78 and a 52-week high of $82.81. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of -30.26, a P/E/G ratio of 2.00 and a beta of 1.82. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58. The firm has a fifty day moving average of $72.72 and a 200-day moving average of $63.43.

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

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Thursday, October 31st. SL Green Realty’s dividend payout ratio (DPR) is currently -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.