Edgestream Partners L.P. Has $2.90 Million Position in SL Green Realty Corp. (NYSE:SLG)

Edgestream Partners L.P. lessened its holdings in SL Green Realty Corp. (NYSE:SLG) by 66.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,620 shares of the real estate investment trust’s stock after selling 81,260 shares during the quarter. Edgestream Partners L.P.’s holdings in SL Green Realty were worth $2,897,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its holdings in shares of SL Green Realty by 272.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 272 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of SL Green Realty in the 2nd quarter valued at $29,000. Friedenthal Financial acquired a new stake in shares of SL Green Realty in the 3rd quarter valued at $49,000. Rothschild Investment LLC acquired a new stake in shares of SL Green Realty in the 2nd quarter valued at $55,000. Finally, Blue Trust Inc. boosted its holdings in shares of SL Green Realty by 363.2% in the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 632 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SLG shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $87.00 target price (up previously from $72.00) on shares of SL Green Realty in a report on Monday, October 21st. Evercore ISI increased their price target on SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Bank of America increased their price target on SL Green Realty from $59.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Jefferies Financial Group increased their price target on SL Green Realty from $70.00 to $72.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Finally, Compass Point set a $65.00 price target on SL Green Realty and gave the company a “neutral” rating in a research note on Friday, October 18th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, SL Green Realty has a consensus rating of “Hold” and a consensus price target of $66.00.

SL Green Realty Stock Down 0.8 %

Shares of NYSE:SLG opened at $78.19 on Monday. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of -31.28, a P/E/G ratio of 3.82 and a beta of 1.82. 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 business’s 50-day moving average is $74.63 and its 200-day moving average is $65.25. SL Green Realty Corp. has a 1 year low of $36.10 and a 1 year high of $82.81.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data 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 business had revenue of $229.69 million during the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $1.27 earnings per share. Equities research analysts predict that SL Green Realty Corp. will post 7.61 earnings per share for the current year.

SL Green Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Friday, November 29th. SL Green Realty’s dividend payout ratio is -120.00%.

SL Green Realty 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.