Moody Aldrich Partners LLC Increases Position in SL Green Realty Corp. (NYSE:SLG)

Moody Aldrich Partners LLC increased its stake in SL Green Realty Corp. (NYSE:SLG) by 12.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,926 shares of the real estate investment trust’s stock after buying an additional 13,427 shares during the period. SL Green Realty accounts for 1.5% of Moody Aldrich Partners LLC’s portfolio, making the stock its 7th largest position. Moody Aldrich Partners LLC owned approximately 0.18% of SL Green Realty worth $8,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Xponance Inc. lifted its stake in shares of SL Green Realty by 6.6% in the 2nd quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust’s stock valued at $240,000 after purchasing an additional 262 shares during the period. Vert Asset Management LLC grew its position in shares of 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 during the period. Louisiana State Employees Retirement System increased its stake in shares of SL Green Realty by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the real estate investment trust’s stock worth $1,846,000 after acquiring an additional 500 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in SL Green Realty during the 2nd quarter valued at about $29,000. Finally, Mackenzie Financial Corp boosted its stake in SL Green Realty by 11.6% during the second quarter. Mackenzie Financial Corp now owns 5,088 shares of the real estate investment trust’s stock worth $288,000 after acquiring an additional 530 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Stock Performance

NYSE:SLG traded up $1.57 on Thursday, hitting $77.15. The stock had a trading volume of 94,370 shares, compared to its average volume of 982,458. The business’s 50-day simple moving average is $68.44 and its two-hundred day simple moving average is $60.18. SL Green Realty Corp. has a 52-week low of $28.55 and a 52-week high of $79.08. The company has a current ratio of 2.58, a quick ratio of 2.59 and a debt-to-equity ratio of 1.07.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($1.42). The business had revenue of $229.69 million for 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 quarter last year, the firm posted $1.27 earnings per share. Sell-side analysts predict that SL Green Realty Corp. will post 7.62 earnings per share for the current year.

SL Green Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.00 annualized dividend and a yield of 3.89%. SL Green Realty’s dividend payout ratio (DPR) is presently -120.00%.

Analyst Upgrades and Downgrades

SLG has been the subject of several recent research reports. Evercore ISI lifted their target price on shares of SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a report on Monday. The Goldman Sachs Group increased their target price on SL Green Realty from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. StockNews.com raised SL Green Realty to a “sell” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. increased their price objective on shares of SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. Finally, Morgan Stanley lifted their target price 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, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, SL Green Realty presently has an average rating of “Hold” and an average target price of $64.71.

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.