Game Plan Financial Advisors LLC Raises Stock Holdings in SL Green Realty Corporation $SLG
by Sarita Garza · The Markets DailyGame Plan Financial Advisors LLC grew its stake in SL Green Realty Corporation (NYSE:SLG – Free Report) by 1,127.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,000 shares of the real estate investment trust’s stock after buying an additional 24,800 shares during the quarter. Game Plan Financial Advisors LLC’s holdings in SL Green Realty were worth $1,558,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in SL Green Realty by 10.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 524,251 shares of the real estate investment trust’s stock worth $30,249,000 after buying an additional 50,450 shares in the last quarter. Empowered Funds LLC increased its position in SL Green Realty by 10.9% in the first quarter. Empowered Funds LLC now owns 7,374 shares of the real estate investment trust’s stock worth $425,000 after buying an additional 722 shares in the last quarter. United Services Automobile Association purchased a new stake in SL Green Realty in the first quarter worth about $253,000. Caxton Associates LLP purchased a new stake in SL Green Realty in the first quarter worth about $475,000. Finally, Goldman Sachs Group Inc. increased its position in SL Green Realty by 8.3% in 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 buying an additional 130,206 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.
Insider Buying and Selling
In related news, Director Carol N. Brown sold 2,500 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $60.61, for a total transaction of $151,525.00. Following the completion of the transaction, the director directly owned 937 shares of the company’s stock, valued at approximately $56,791.57. This represents a 72.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.04% of the company’s stock.
Analyst Ratings Changes
A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SL Green Realty in a research report on Friday, May 23rd. JPMorgan Chase & Co. dropped their price objective on SL Green Realty from $70.00 to $69.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. Truist Financial upped their price objective on SL Green Realty from $54.00 to $58.00 and gave the stock a “hold” rating in a research note on Friday, July 18th. Wells Fargo & Company dropped their price objective on SL Green Realty from $69.00 to $58.00 and set an “equal weight” rating for the company in a research note on Monday, May 19th. Finally, Scotiabank raised SL Green Realty from a “sector perform” rating to a “sector outperform” rating and set a $71.00 price objective for the company in a research note on Friday, July 25th. Four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.29.
Check Out Our Latest Research Report on SL Green Realty
SL Green Realty Price Performance
Shares of SL Green Realty stock opened at $60.88 on Tuesday. The stock has a 50 day moving average of $58.38 and a 200 day moving average of $58.03. SL Green Realty Corporation has a 12 month low of $45.15 and a 12 month high of $82.81. The firm has a market cap of $4.34 billion, a PE ratio of -112.74 and a beta of 1.74. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.98.
SL Green Realty (NYSE:SLG – Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.26. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%.The company had revenue of $147.54 million during the quarter, compared to analyst estimates of $171.24 million. During the same period in the prior year, the company earned $2.05 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. On average, research analysts expect that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.
SL Green Realty Dividend Announcement
The company also recently declared a aug 25 dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.2575 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a yield of 543.0%. SL Green Realty’s dividend payout ratio is presently -572.22%.
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.
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