Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in SL Green Realty Corp. (NYSE:SLG)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in SL Green Realty Corp. (NYSE:SLG) by 10.6% during 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 30,057 shares of the real estate investment trust’s stock after buying an additional 2,874 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SL Green Realty were worth $2,092,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of SL Green Realty by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock worth $88,275,000 after purchasing an additional 97,653 shares in the last quarter. Dimensional Fund Advisors LP grew its position in SL Green Realty by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust’s stock worth $56,350,000 after buying an additional 88,309 shares during the period. Bank of New York Mellon Corp increased its holdings in SL Green Realty by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 810,490 shares of the real estate investment trust’s stock valued at $45,906,000 after buying an additional 14,167 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of SL Green Realty by 8.2% during the 2nd quarter. Federated Hermes Inc. now owns 433,896 shares of the real estate investment trust’s stock valued at $24,576,000 after acquiring an additional 32,985 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of SL Green Realty by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 234,858 shares of the real estate investment trust’s stock worth $13,302,000 after acquiring an additional 3,255 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Stock Down 2.6 %

SLG opened at $73.80 on Wednesday. SL Green Realty Corp. has a 12 month low of $39.66 and a 12 month high of $82.81. The business has a 50-day moving average of $74.76 and a two-hundred day moving average of $65.56. 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 stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of -29.52, a price-to-earnings-growth ratio of 3.70 and a beta of 1.81.

SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). The company had revenue of $229.69 million during the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $1.27 earnings per share. On average, research analysts expect that SL Green Realty Corp. will post 7.61 earnings per share for the current year.

SL Green Realty Dividend Announcement

The company 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 dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, November 29th. SL Green Realty’s dividend payout ratio (DPR) is currently -120.00%.

Analyst Ratings Changes

Several equities analysts recently issued reports on SLG shares. JPMorgan Chase & Co. lifted their price objective on SL Green Realty from $44.00 to $51.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Scotiabank boosted 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. Citigroup upgraded shares of SL Green Realty from a “sell” rating to a “neutral” rating and raised their target price for the company from $44.00 to $66.00 in a report on Friday, September 13th. Compass Point set a $65.00 price target on shares of SL Green Realty and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Evercore ISI raised their price objective on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SL Green Realty currently has a consensus rating of “Hold” and an average 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.