Meeder Asset Management Inc. grew its holdings in shares of SL Green Realty Corp. (NYSE:SLG – Get Rating) by 5.7% during the first quarter, HoldingsChannel reports. The firm owned 15,181 shares of the real estate investment trust's stock after purchasing an additional 822 shares during the quarter. Meeder Asset Management Inc.'s holdings in SL Green Realty were worth $1,232,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Quent Capital LLC purchased a new position in shares of SL Green Realty during the 4th quarter worth $72,000. Belpointe Asset Management LLC purchased a new position in shares of SL Green Realty in the 1st quarter worth $100,000. Clearstead Advisors LLC purchased a new position in shares of SL Green Realty in the 1st quarter worth $108,000. Lazard Asset Management LLC increased its holdings in SL Green Realty by 11.2% in the 4th quarter. Lazard Asset Management LLC now owns 1,455 shares of the real estate investment trust's stock valued at $104,000 after purchasing an additional 147 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in SL Green Realty in the 4th quarter valued at $121,000. Hedge funds and other institutional investors own 84.49% of the company's stock.
Get SL Green Realty alerts:SL Green Realty Stock Performance
SLG opened at $50.77 on Monday. The business's 50 day moving average is $48.82 and its 200-day moving average is $65.02. The stock has a market cap of $3.26 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 3.67 and a beta of 1.47. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.82. SL Green Realty Corp. has a twelve month low of $43.93 and a twelve month high of $83.96.
SL Green Realty (NYSE:SLG – Get Rating) last announced its earnings results on Wednesday, July 20th. The real estate investment trust reported ($0.70) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.76). SL Green Realty had a return on equity of 6.35% and a net margin of 40.01%. The firm had revenue of $155.20 million for the quarter, compared to the consensus estimate of $157.74 million. During the same period in the previous year, the firm earned $1.65 EPS. SL Green Realty's revenue for the quarter was down 15.9% on a year-over-year basis. On average, analysts predict that SL Green Realty Corp. will post 6.75 earnings per share for the current year.SL Green Realty Cuts Dividend
The firm also recently declared a monthly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 29th will be given a $0.3108 dividend. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $3.73 annualized dividend and a yield of 7.35%. SL Green Realty's dividend payout ratio (DPR) is 82.60%.
Analyst Upgrades and Downgrades
SLG has been the subject of several recent research reports. The Goldman Sachs Group lowered their price target on SL Green Realty from $90.00 to $79.00 and set a "buy" rating for the company in a report on Wednesday, May 25th. Truist Financial lowered their target price on SL Green Realty from $80.00 to $57.00 and set a "hold" rating for the company in a research note on Thursday, June 30th. Piper Sandler lowered their target price on SL Green Realty to $52.00 in a research note on Friday, July 22nd. Wells Fargo & Company lowered their target price on SL Green Realty from $76.00 to $48.00 and set an "equal weight" rating for the company in a research note on Friday, July 1st. Finally, Credit Suisse Group initiated coverage on SL Green Realty in a research note on Wednesday, June 22nd. They set a "neutral" rating and a $51.00 target price for the company. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, SL Green Realty presently has a consensus rating of "Hold" and a consensus target price of $60.51.
SL Green Realty Company Profile
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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 December 31, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet.
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