Vert Asset Management LLC lowered its position in SL Green Realty Corporation (NYSE:SLG – Free Report) by 5.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,906 shares of the real estate investment trust’s stock after selling 1,666 shares during the period. Vert Asset Management LLC’s holdings in SL Green Realty were worth $1,789,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC boosted its position in SL Green Realty by 54.5% in the first quarter. Fourth Dimension Wealth LLC now owns 1,700 shares of the real estate investment trust’s stock valued at $98,000 after buying an additional 600 shares during the last quarter. State of Wyoming purchased a new stake in SL Green Realty in the 1st quarter worth approximately $172,000. KBC Group NV boosted its position in SL Green Realty by 20.9% in the 1st quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust’s stock worth $193,000 after purchasing an additional 577 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in SL Green Realty in the 2nd quarter worth approximately $225,000. Finally, Envestnet Portfolio Solutions Inc. boosted its position in SL Green Realty by 13.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,889 shares of the real estate investment trust’s stock worth $224,000 after purchasing an additional 466 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.
Insider Buying and Selling
In related news, Director Carol N. Brown sold 2,500 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $60.61, for a total value of $151,525.00. Following the completion of the transaction, the director directly owned 937 shares of the company’s stock, valued at approximately $56,791.57. This represents a 72.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.04% of the company’s stock.
SL Green Realty Trading Up 1.4%
SL Green Realty (NYSE:SLG – Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, beating the consensus estimate of $1.37 by $0.26. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%.The firm had revenue of $147.54 million during the quarter, compared to the consensus estimate of $171.24 million. During the same period in the prior year, the company earned $2.05 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. On average, equities research analysts expect that SL Green Realty Corporation will post 5.43 EPS 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. Investors of record on Tuesday, September 30th will be paid a $0.2575 dividend. This represents a yield of 517.0%. The ex-dividend date of this dividend is Tuesday, September 30th. SL Green Realty’s dividend payout ratio is currently -572.22%.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the company. JPMorgan Chase & Co. lowered their price objective on SL Green Realty from $70.00 to $69.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 9th. Scotiabank upgraded SL Green Realty from a “sector perform” rating to a “sector outperform” rating and set a $71.00 price objective on the stock in a research report on Friday, July 25th. Citigroup upgraded SL Green Realty from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $70.00 in a research report on Friday, September 12th. Truist Financial upped their price objective on SL Green Realty from $54.00 to $58.00 and gave the stock a “hold” rating in a research report on Friday, July 18th. Finally, Evercore ISI upped their target price on SL Green Realty from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $67.79.
Get Our Latest Analysis on SLG
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.
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