Daiwa Securities Group Inc. Sells 28,660 Shares of SL Green Realty Corp. (NYSE:SLG)

Daiwa Securities Group Inc. reduced its position in shares of SL Green Realty Corp. (NYSE:SLG) by 22.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,239 shares of the real estate investment trust’s stock after selling 28,660 shares during the period. Daiwa Securities Group Inc.’s holdings in SL Green Realty were worth $6,908,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Venturi Wealth Management LLC boosted its holdings in shares of SL Green Realty by 272.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 272 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of SL Green Realty during the 2nd quarter worth $29,000. Friedenthal Financial bought a new stake in shares of SL Green Realty during the 3rd quarter worth $49,000. Blue Trust Inc. boosted its holdings in shares of SL Green Realty by 363.2% during the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 632 shares during the period. Finally, Rothschild Investment LLC bought a new stake in shares of SL Green Realty during the 2nd quarter worth $55,000. 89.96% of the stock is owned by institutional investors.

SL Green Realty Stock Down 0.8 %

SLG opened at $78.99 on Tuesday. The firm’s 50-day simple moving average is $74.06 and its 200-day simple moving average is $64.55. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58. SL Green Realty Corp. has a twelve month low of $32.78 and a twelve month high of $82.81. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of -31.60, a PEG ratio of 2.10 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last posted its earnings results 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 return on equity of 3.76% and a negative net margin of 16.78%. The firm had revenue of $229.69 million during the quarter, compared to the consensus estimate of $136.66 million. During the same period in the previous year, the company posted $1.27 EPS. Equities research analysts anticipate that SL Green Realty Corp. will post 7.6 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently disclosed 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 is currently -120.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays upped their target price on shares of 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. Bank of America upped their target price on shares of SL Green Realty from $59.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $87.00 target price (up from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. Piper Sandler reiterated an “overweight” rating and set a $90.00 target price (up from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Finally, The Goldman Sachs Group upped their target price on shares of SL Green Realty from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, SL Green Realty presently has a consensus rating of “Hold” and a consensus price target of $66.00.

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.