Nan Fung Trinity HK Ltd. Purchases 100,600 Shares of SL Green Realty Corporation $SLG

Nan Fung Trinity HK Ltd. grew its holdings in SL Green Realty Corporation (NYSE:SLG) by 264.0% during the 2nd quarter, Holdings Channel reports. The firm owned 138,700 shares of the real estate investment trust’s stock after purchasing an additional 100,600 shares during the period. Nan Fung Trinity HK Ltd.’s holdings in SL Green Realty were worth $8,586,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SLG. Vanguard Group Inc. increased its stake in shares of SL Green Realty by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 11,113,302 shares of the real estate investment trust’s stock valued at $641,238,000 after acquiring an additional 283,009 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in SL Green Realty by 8.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,695,862 shares of the real estate investment trust’s stock worth $97,851,000 after purchasing an additional 130,206 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in SL Green Realty by 8.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,554,977 shares of the real estate investment trust’s stock worth $89,722,000 after buying an additional 126,969 shares in the last quarter. Nuveen LLC acquired a new position in shares of SL Green Realty during the 1st quarter worth about $87,878,000. Finally, Northern Trust Corp grew its stake in SL Green Realty by 2.1% in the first quarter. Northern Trust Corp now owns 1,458,980 shares of the real estate investment trust’s stock valued at $84,183,000 after purchasing an additional 29,344 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

SLG has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded SL Green Realty from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $57.00 to $63.00 in a report on Monday, October 13th. Bank of America decreased their target price on SL Green Realty from $64.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, October 17th. Citigroup upgraded SL Green Realty from a “neutral” rating to a “buy” rating and boosted their price target for the company from $65.00 to $70.00 in a research note on Friday, September 12th. LADENBURG THALM/SH SH started coverage on shares of SL Green Realty in a research note on Monday, October 13th. They issued a “neutral” rating and a $63.00 price objective for the company. Finally, Truist Financial set a $54.00 price objective on shares of SL Green Realty and gave the company a “hold” rating in a report on Tuesday, October 21st. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, SL Green Realty presently has an average rating of “Hold” and an average price target of $64.33.

SL Green Realty Stock Up 0.7%

Shares of NYSE SLG opened at $50.78 on Wednesday. The stock has a market capitalization of $3.62 billion, a P/E ratio of 5,082.78 and a beta of 1.75. The stock’s fifty day moving average is $57.01 and its 200 day moving average is $58.13. SL Green Realty Corporation has a 52 week low of $45.15 and a 52 week high of $81.46. 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 released its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.58 EPS for the quarter, beating 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 firm had revenue of $149.67 million for the quarter, compared to analyst estimates of $170.27 million. During the same period last year, the firm earned $1.26 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts forecast that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be paid a dividend of $0.2575 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) annualized dividend and a yield of 6.1%. SL Green Realty’s payout ratio is presently 30,900.00%.

Insider Buying and Selling

In other SL Green Realty news, Director Carol N. Brown sold 937 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $63.09, for a total transaction of $59,115.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.04% of the company’s stock.

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.