Kestra Investment Management LLC Takes Position in SL Green Realty Corp. (NYSE:SLG)

Kestra Investment Management LLC purchased a new position in shares of SL Green Realty Corp. (NYSE:SLG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,584 shares of the real estate investment trust’s stock, valued at approximately $876,000.

Other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in shares of SL Green Realty in the 1st quarter valued at $237,000. DekaBank Deutsche Girozentrale increased its stake in SL Green Realty by 18.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 67,923 shares of the real estate investment trust’s stock valued at $3,665,000 after purchasing an additional 10,704 shares during the period. Gilman Hill Asset Management LLC raised its holdings in shares of SL Green Realty by 2.1% in the second quarter. Gilman Hill Asset Management LLC now owns 185,367 shares of the real estate investment trust’s stock valued at $10,499,000 after buying an additional 3,758 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of SL Green Realty by 4.4% during the second quarter. Sequoia Financial Advisors LLC now owns 14,352 shares of the real estate investment trust’s stock worth $813,000 after buying an additional 606 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in shares of SL Green Realty by 2.4% during the second quarter. Nisa Investment Advisors LLC now owns 121,022 shares of the real estate investment trust’s stock worth $6,885,000 after buying an additional 2,797 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SLG. Jefferies Financial Group boosted their target price on SL Green Realty from $70.00 to $72.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Scotiabank upped their price objective on shares of SL Green Realty from $68.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Bank of America raised their target price 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. JPMorgan Chase & Co. boosted their price target on shares of SL Green Realty from $44.00 to $51.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. Finally, Evercore ISI raised their price objective on shares of SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Three equities 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $66.00.

SL Green Realty Stock Down 0.8 %

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’s 50-day moving average is $74.63 and its two-hundred day moving average is $65.25. SL Green Realty Corp. has a 12-month low of $36.10 and a 12-month high of $82.81. The company has a market capitalization of $5.16 billion, a PE ratio of -31.28, a price-to-earnings-growth ratio of 3.82 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last announced its 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). SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. The company had revenue of $229.69 million for the quarter, compared to analyst estimates of $136.66 million. During the same quarter last year, the company posted $1.27 EPS. Equities analysts anticipate that SL Green Realty Corp. will post 7.61 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.00 dividend on an annualized basis and a yield of 3.84%. SL Green Realty’s dividend payout ratio (DPR) is -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.