SL Green Realty Corp. (NYSE:SLG) Position Increased by Glenmede Trust Co. NA

Glenmede Trust Co. NA lifted its holdings in SL Green Realty Corp. (NYSE:SLG) by 17.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 15,721 shares of the real estate investment trust’s stock after purchasing an additional 2,337 shares during the period. Glenmede Trust Co. NA’s holdings in SL Green Realty were worth $1,094,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Rosenberg Matthew Hamilton lifted its position in SL Green Realty by 6.6% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 144 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of SL Green Realty by 4.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock valued at $262,000 after buying an additional 148 shares during the last quarter. Xponance Inc. raised its holdings in shares of SL Green Realty by 6.6% during the second quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust’s stock valued at $240,000 after buying an additional 262 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 272 shares during the period. Finally, Vert Asset Management LLC grew its holdings in SL Green Realty by 1.5% in the 3rd quarter. Vert Asset Management LLC now owns 26,909 shares of the real estate investment trust’s stock worth $1,873,000 after buying an additional 394 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of SLG opened at $75.72 on Tuesday. The company has a 50-day moving average of $74.71 and a two-hundred day moving average of $65.41. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of -30.29, a PEG ratio of 3.82 and a beta of 1.82. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. SL Green Realty Corp. has a one year low of $39.66 and a one year high of $82.81.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). The firm had revenue of $229.69 million during 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 in the prior year, the business posted $1.27 EPS. On average, equities research analysts expect that SL Green Realty Corp. will post 7.61 earnings per share for the current year.

SL Green Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 3.96%. The ex-dividend date is Friday, November 29th. SL Green Realty’s dividend payout ratio is currently -120.00%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Evercore ISI boosted their price target on SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Jefferies Financial Group increased their target price on shares of SL Green Realty from $70.00 to $72.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Bank of America upped their price target on shares of SL Green Realty from $59.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Citigroup upgraded shares of SL Green Realty from a “sell” rating to a “neutral” rating and raised their price objective for the company from $44.00 to $66.00 in a research note on Friday, September 13th. Finally, BMO Capital Markets restated 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. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, SL Green Realty has a consensus rating of “Hold” and a consensus price target of $66.00.

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.