Virtus ETF Advisers LLC grew its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 20.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,936 shares of the real estate investment trust’s stock after buying an additional 4,055 shares during the quarter. Virtus ETF Advisers LLC’s holdings in SL Green Realty were worth $1,110,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. CI Investments Inc. bought a new stake in shares of SL Green Realty in the 3rd quarter valued at about $25,000. Bank Julius Baer & Co. Ltd Zurich raised its holdings in SL Green Realty by 38.2% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 760 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 210 shares during the period. Marshall Wace North America L.P. bought a new position in SL Green Realty in the 1st quarter valued at about $72,000. Rosenberg Matthew Hamilton bought a new position in SL Green Realty in the 2nd quarter valued at about $48,000. Finally, Bamco Inc. NY bought a new position in SL Green Realty in the 2nd quarter valued at about $56,000. 99.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. Wells Fargo & Company decreased their target price on shares of SL Green Realty from $65.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 23rd. ValuEngine lowered shares of SL Green Realty from a “sell” rating to a “strong sell” rating in a research report on Monday, August 3rd. Zacks Investment Research upgraded shares of SL Green Realty from a “sell” rating to a “hold” rating and set a $50.00 target price on the stock in a research report on Friday, October 16th. Finally, Bank of America increased their target price on shares of SL Green Realty from $49.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, November 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.15.
Shares of SLG stock traded down $2.53 during trading hours on Monday, hitting $58.02. 9,607 shares of the company’s stock traded hands, compared to its average volume of 1,532,210. The stock’s 50 day simple moving average is $50.55 and its 200 day simple moving average is $48.35. The stock has a market cap of $4.39 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 4.92 and a beta of 1.53. SL Green Realty Corp. has a 12 month low of $35.16 and a 12 month high of $96.39. The company has a quick ratio of 6.70, a current ratio of 6.70 and a debt-to-equity ratio of 1.17.
SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.56 by ($1.37). SL Green Realty had a net margin of 19.90% and a return on equity of 4.21%. As a group, equities research analysts expect that SL Green Realty Corp. will post 6.91 EPS for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a dividend of $0.295 per share. This represents a $3.54 annualized dividend and a dividend yield of 6.10%. The ex-dividend date is Friday, November 27th. SL Green Realty’s payout ratio is currently 50.57%.
SL Green Realty Company Profile
SL Green Realty Corp., an S&P 500 company and 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 September 30, 2020, SL Green held interests in 93 buildings totaling 40.6 million square feet.
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