Moody Aldrich Partners LLC Sells 1,693 Shares of SL Green Realty Corporation $SLG

Moody Aldrich Partners LLC decreased its holdings in SL Green Realty Corporation (NYSE:SLG) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,789 shares of the real estate investment trust’s stock after selling 1,693 shares during the period. SL Green Realty accounts for about 1.3% of Moody Aldrich Partners LLC’s portfolio, making the stock its 20th biggest holding. Moody Aldrich Partners LLC’s holdings in SL Green Realty were worth $6,796,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its holdings in SL Green Realty by 67.8% in the 2nd quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 253 shares in the last quarter. State of Wyoming bought a new stake in shares of SL Green Realty during the first quarter valued at approximately $172,000. KBC Group NV lifted its holdings in shares of SL Green Realty by 20.9% in the first quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust’s stock worth $193,000 after buying an additional 577 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of SL Green Realty during the second quarter worth $225,000. Finally, United Services Automobile Association bought a new position in shares of SL Green Realty during the first quarter worth $253,000. Institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on SLG. JPMorgan Chase & Co. boosted their price target on shares of SL Green Realty from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Bank of America reduced their target price on SL Green Realty from $64.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, October 17th. Jefferies Financial Group raised SL Green Realty from a “neutral” rating to a “buy” rating and increased their price target for the company from $57.00 to $63.00 in a research note on Monday, October 13th. Weiss Ratings restated a “sell (d+)” rating on shares of SL Green Realty in a report on Wednesday, October 8th. Finally, LADENBURG THALM/SH SH began coverage on SL Green Realty in a report on Monday, October 13th. They set a “neutral” rating and a $63.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, SL Green Realty presently has a consensus rating of “Hold” and an average target price of $64.40.

Insiders Place Their Bets

In related news, Director Carol N. Brown sold 937 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $63.09, for a total value of $59,115.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.04% of the stock is owned by company insiders.

SL Green Realty Stock Performance

NYSE SLG opened at $51.46 on Friday. The business’s 50 day moving average price is $57.93 and its 200-day moving average price is $58.15. SL Green Realty Corporation has a fifty-two week low of $45.15 and a fifty-two week high of $82.81. The company has a market cap of $3.67 billion, a P/E ratio of 5,150.85 and a beta of 1.77. The company has a debt-to-equity ratio of 1.04, a quick ratio of 2.72 and a current ratio of 3.22.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.58 EPS for the quarter, topping the consensus estimate of $1.34 by $0.24. SL Green Realty had a net margin of 1.75% and a negative return on equity of 0.22%. The company had revenue of $149.67 million during the quarter, compared to analyst estimates of $170.27 million. During the same period in the previous year, the firm earned $1.26 earnings per share. SL Green Realty’s quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts predict that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be issued a dividend of $0.2575 per share. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date is Friday, October 31st. SL Green Realty’s dividend payout ratio is presently 30,900.00%.

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.