Kestra Investment Management LLC Buys New Shares in SL Green Realty Corp. (NYSE:SLG)

Kestra Investment Management LLC purchased a new position in shares of SL Green Realty Corp. (NYSE:SLG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,584 shares of the real estate investment trust’s stock, valued at approximately $876,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rosenberg Matthew Hamilton raised its holdings in shares of SL Green Realty by 6.6% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock valued at $161,000 after buying an additional 144 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake 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 purchasing an additional 148 shares during the period. Xponance Inc. lifted its position 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 worth $240,000 after purchasing an additional 262 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of 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 valued at $26,000 after purchasing an additional 272 shares during the period. Finally, Vert Asset Management LLC grew its holdings in SL Green Realty by 1.5% during the 3rd quarter. Vert Asset Management LLC now owns 26,909 shares of the real estate investment trust’s stock valued at $1,873,000 after purchasing an additional 394 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SLG shares. Jefferies Financial Group upped their price objective 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. Compass Point set a $65.00 price objective on SL Green Realty and gave the company a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley upped their target price on SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Barclays increased their target price on SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Bank of America lifted 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. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, SL Green Realty presently has a consensus rating of “Hold” and an average target price of $66.00.

SL Green Realty Price Performance

Shares of NYSE SLG opened at $78.19 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. The firm has a market capitalization of $5.16 billion, a PE ratio of -31.28, a P/E/G ratio of 3.82 and a beta of 1.82. SL Green Realty Corp. has a 1-year low of $36.10 and a 1-year high of $82.81. The business’s fifty day moving average price is $74.63 and its two-hundred day moving average price is $65.25.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $229.69 million during the quarter, compared to the consensus estimate of $136.66 million. During the same quarter in the prior year, the business earned $1.27 earnings per share. On average, research analysts expect that SL Green Realty Corp. will post 7.61 EPS for the current year.

SL Green Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 3.84%. The ex-dividend date is Friday, November 29th. SL Green Realty’s dividend payout ratio is currently -120.00%.

About SL Green Realty

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.