18,270 Shares in SL Green Realty Corporation $SLG Bought by Nwam LLC

Nwam LLC purchased a new position in SL Green Realty Corporation (NYSE:SLG) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 18,270 shares of the real estate investment trust’s stock, valued at approximately $946,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of SL Green Realty by 379.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 26,794 shares of the real estate investment trust’s stock valued at $1,387,000 after purchasing an additional 21,210 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of SL Green Realty by 15,825.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 480,634 shares of the real estate investment trust’s stock worth $24,882,000 after purchasing an additional 477,616 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of SL Green Realty by 2.9% in the 2nd quarter. Van ECK Associates Corp now owns 25,264 shares of the real estate investment trust’s stock valued at $1,308,000 after buying an additional 713 shares during the period. Hsbc Holdings PLC grew its stake in shares of SL Green Realty by 15.0% in the 2nd quarter. Hsbc Holdings PLC now owns 189,097 shares of the real estate investment trust’s stock valued at $9,808,000 after buying an additional 24,699 shares during the period. Finally, Beacon Pointe Advisors LLC bought a new stake in SL Green Realty in the 2nd quarter valued at about $211,000. 89.96% of the stock is owned by institutional investors.

SL Green Realty Trading Up 1.2%

Shares of SL Green Realty stock opened at $55.24 on Thursday. The company has a market capitalization of $3.93 billion, a P/E ratio of -20.24, a price-to-earnings-growth ratio of 2.36 and a beta of 1.60. The stock has a fifty day simple moving average of $53.90 and a 200 day simple moving average of $46.20. SL Green Realty Corporation has a 12-month low of $34.77 and a 12-month high of $66.29. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 1.05.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.21. The business had revenue of $264.00 million for the quarter, compared to analysts’ expectations of $179.01 million. SL Green Realty had a negative return on equity of 4.37% and a negative net margin of 16.92%.The business’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the business earned $1.63 EPS. On average, sell-side analysts anticipate that SL Green Realty Corporation will post 5.53 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.6175 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.47 annualized dividend and a yield of 4.5%. SL Green Realty’s payout ratio is -90.48%.

Insider Transactions at SL Green Realty

In other SL Green Realty news, insider Harrison Sitomer sold 23,113 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $57.71, for a total value of $1,333,851.23. Following the completion of the sale, the insider owned 109,468 shares in the company, valued at approximately $6,317,398.28. This trade represents a 17.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Mizuho upped their price target on SL Green Realty from $38.00 to $46.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Wall Street Zen downgraded SL Green Realty from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Piper Sandler set a $79.00 target price on SL Green Realty and gave the stock an “overweight” rating in a research report on Friday, July 24th. Truist Financial set a $57.00 target price on SL Green Realty and gave the stock a “hold” rating in a report on Monday, August 24th. Finally, Citigroup reissued a “buy” rating and issued a $60.00 price target (up from $45.00) on shares of SL Green Realty in a research report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.83.

SL Green Realty Company Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.