Heitman Real Estate Securities LLC Has $10.81 Million Holdings in SL Green Realty Corp. (NYSE:SLG)

Heitman Real Estate Securities LLC lessened its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 72.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,281 shares of the real estate investment trust’s stock after selling 413,851 shares during the quarter. Heitman Real Estate Securities LLC owned approximately 0.24% of SL Green Realty worth $10,809,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SLG. Rosenberg Matthew Hamilton boosted its holdings in shares of SL Green Realty by 6.6% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 144 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of SL Green Realty by 4.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock worth $262,000 after buying an additional 148 shares in the last quarter. Xponance Inc. lifted its holdings in shares of SL Green Realty by 6.6% during the second quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust’s stock valued at $240,000 after acquiring an additional 262 shares during the period. Venturi Wealth Management LLC grew its stake in SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 272 shares during the last quarter. Finally, Vert Asset Management LLC increased its holdings in SL Green Realty by 1.5% during the 3rd quarter. Vert Asset Management LLC now owns 26,909 shares of the real estate investment trust’s stock valued at $1,873,000 after purchasing an additional 394 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Trading Down 3.2 %

SLG opened at $75.72 on Tuesday. SL Green Realty Corp. has a 12 month low of $39.66 and a 12 month high of $82.81. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06. The business’s 50-day moving average price is $74.71 and its 200-day moving average price is $65.41.

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

SL Green Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Friday, November 29th. SL Green Realty’s payout ratio is -120.00%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays upped their price target on SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group upped their target price on shares of SL Green Realty from $70.00 to $72.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Bank of America boosted their price objective on SL Green Realty from $59.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Scotiabank boosted their price target on SL Green Realty from $68.00 to $80.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Finally, Piper Sandler reissued an “overweight” rating and set a $90.00 price target (up from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, SL Green Realty presently has a consensus rating of “Hold” and an average target price 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.