Edmond DE Rothschild Holding S.A. grew its position in shares of SL Green Realty Corp. (NYSE:SLG) by 972.3% during the second quarter, HoldingsChannel.com reports. The firm owned 4,450 shares of the real estate investment trust’s stock after purchasing an additional 4,035 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in SL Green Realty were worth $356,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Great West Life Assurance Co. Can acquired a new stake in shares of SL Green Realty during the first quarter valued at about $5,071,000. Cubist Systematic Strategies LLC raised its position in shares of SL Green Realty by 35.7% during the first quarter. Cubist Systematic Strategies LLC now owns 26,233 shares of the real estate investment trust’s stock worth $1,836,000 after acquiring an additional 6,902 shares during the last quarter. Wealthfront Advisers LLC raised its position in shares of SL Green Realty by 12.8% during the first quarter. Wealthfront Advisers LLC now owns 40,917 shares of the real estate investment trust’s stock worth $2,864,000 after acquiring an additional 4,645 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of SL Green Realty by 10.2% during the first quarter. Thrivent Financial for Lutherans now owns 104,845 shares of the real estate investment trust’s stock worth $7,338,000 after acquiring an additional 9,712 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of SL Green Realty by 167.1% during the first quarter. AQR Capital Management LLC now owns 20,102 shares of the real estate investment trust’s stock worth $1,407,000 after acquiring an additional 12,575 shares during the last quarter. 87.11% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on SLG. Wolfe Research began coverage on SL Green Realty in a research report on Monday, June 14th. They set a “peer perform” rating and a $90.00 price objective for the company. Piper Sandler raised their price objective on SL Green Realty from $75.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, June 14th. Deutsche Bank Aktiengesellschaft raised their price objective on SL Green Realty from $66.00 to $77.00 and gave the stock a “hold” rating in a research report on Friday, June 25th. Barclays began coverage on SL Green Realty in a report on Wednesday, September 1st. They issued an “overweight” rating and a $81.00 target price for the company. Finally, Bank of America upgraded SL Green Realty from an “underperform” rating to a “neutral” rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $71.90.
SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Tuesday, July 20th. The real estate investment trust reported $1.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.11). The firm had revenue of $184.61 million for the quarter, compared to the consensus estimate of $182.52 million. SL Green Realty had a net margin of 32.04% and a return on equity of 5.84%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 EPS. On average, equities research analysts anticipate that SL Green Realty Corp. will post 6.59 earnings per share for the current year.
The company also recently disclosed a monthly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be issued a dividend of $0.303 per share. The ex-dividend date is Wednesday, September 29th. This represents a $3.64 annualized dividend and a dividend yield of 4.96%. SL Green Realty’s dividend payout ratio is 51.20%.
In other news, Director Betsy S. Atkins sold 3,229 shares of the business’s stock in a transaction that occurred on Monday, September 20th. The stock was sold at an average price of $66.85, for a total transaction of $215,858.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.99% of the company’s stock.
SL Green Realty Company Profile
SL Green Realty Corp. operates as a real estate investment trust. The firm engages in the acquisition, development, ownership, management and operation of commercial and residential real estate properties. It operates through the Real Estate, and Debt & Preferred Equity Investments business segments.
Further Reading: Death Cross
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