Nwam LLC Invests $213,000 in SL Green Realty Corp. (NYSE:SLG)

Nwam LLC bought a new position in SL Green Realty Corp. (NYSE:SLG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,053 shares of the real estate investment trust’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SLG. Venturi Wealth Management LLC increased its stake in SL Green Realty by 272.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 272 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of SL Green Realty in the second quarter worth approximately $29,000. Friedenthal Financial acquired a new stake in shares of SL Green Realty during the third quarter valued at approximately $49,000. Rothschild Investment LLC purchased a new stake in shares of SL Green Realty in the 2nd quarter valued at approximately $55,000. Finally, Blue Trust Inc. boosted its stake in SL Green Realty by 363.2% in the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 632 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on SLG shares. Compass Point set a $65.00 target price on shares of SL Green Realty and gave the company a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company increased their price objective on SL Green Realty from $43.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. raised their price objective on SL Green Realty from $44.00 to $51.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Bank of America upped their target price on SL Green Realty from $59.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Finally, Morgan Stanley raised their price target on shares of SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $66.00.

SL Green Realty Stock Down 0.8 %

SLG opened at $78.99 on Tuesday. The firm has a market cap of $5.21 billion, a P/E ratio of -31.60, a price-to-earnings-growth ratio of 2.10 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 business has a 50 day moving average price of $74.06 and a 200 day moving average price of $64.55. SL Green Realty Corp. has a twelve month low of $32.78 and a twelve month high of $82.81.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results 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 the consensus estimate of $136.66 million. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. During the same period in the prior year, the business earned $1.27 EPS. Research analysts forecast that SL Green Realty Corp. will post 7.6 EPS for the current year.

SL Green Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Friday, November 29th. SL Green Realty’s dividend payout ratio (DPR) is -120.00%.

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.