SL Green Realty Corporation $SLG Stock Holdings Lessened by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its holdings in SL Green Realty Corporation (NYSE:SLG) by 23.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,521 shares of the real estate investment trust’s stock after selling 467 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in SL Green Realty were worth $94,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its holdings in SL Green Realty by 4.9% in the second quarter. State of Alaska Department of Revenue now owns 77,149 shares of the real estate investment trust’s stock worth $4,774,000 after acquiring an additional 3,572 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in SL Green Realty by 2.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 102,589 shares of the real estate investment trust’s stock worth $6,350,000 after buying an additional 2,586 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in SL Green Realty during the 2nd quarter worth $225,000. Strs Ohio acquired a new stake in SL Green Realty in the first quarter worth $1,593,000. Finally, Intech Investment Management LLC lifted its stake in SL Green Realty by 36.9% in the first quarter. Intech Investment Management LLC now owns 48,390 shares of the real estate investment trust’s stock valued at $2,792,000 after buying an additional 13,048 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insiders Place Their Bets

In related news, Director Carol N. Brown sold 2,500 shares of SL Green Realty stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $60.61, for a total transaction of $151,525.00. Following the transaction, the director directly owned 937 shares of the company’s stock, valued at $56,791.57. The trade was a 72.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.04% of the stock is owned by corporate insiders.

SL Green Realty Stock Down 2.9%

SLG stock opened at $55.21 on Monday. The firm’s 50-day moving average is $58.30 and its two-hundred day moving average is $58.13. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of -102.24 and a beta of 1.77. SL Green Realty Corporation has a 52 week low of $45.15 and a 52 week high of $82.81. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.98.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.26. The business had revenue of $147.54 million for the quarter, compared to analyst estimates of $171.24 million. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $2.05 earnings per share. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. On average, analysts forecast that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently disclosed a sep 25 dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.2575 dividend. The ex-dividend date is Tuesday, September 30th. This represents a dividend yield of 517.0%. SL Green Realty’s dividend payout ratio is -572.22%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SLG. Weiss Ratings restated a “sell (d+)” rating on shares of SL Green Realty in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of SL Green Realty from $69.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday. Scotiabank upgraded shares of SL Green Realty from a “sector perform” rating to a “sector outperform” rating and set a $71.00 price target on the stock in a research note on Friday, July 25th. Evercore ISI reduced their price objective on SL Green Realty from $76.00 to $72.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, New Street Research set a $72.00 price objective on SL Green Realty in a report on Thursday. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $67.93.

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.