Wellington Management Group LLP Sells 52,950 Shares of SL Green Realty Corporation $SLG

Wellington Management Group LLP cut its position in shares of SL Green Realty Corporation (NYSE:SLG) by 7.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 703,663 shares of the real estate investment trust’s stock after selling 52,950 shares during the period. Wellington Management Group LLP’s holdings in SL Green Realty were worth $36,429,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. AQR Capital Management LLC grew its position in SL Green Realty by 74.8% during the first quarter. AQR Capital Management LLC now owns 26,883 shares of the real estate investment trust’s stock valued at $1,519,000 after acquiring an additional 11,506 shares during the last quarter. United Services Automobile Association bought a new stake in shares of SL Green Realty in the 1st quarter worth approximately $253,000. Empowered Funds LLC boosted its stake in shares of SL Green Realty by 10.9% in the 1st quarter. Empowered Funds LLC now owns 7,374 shares of the real estate investment trust’s stock valued at $425,000 after purchasing an additional 722 shares in the last quarter. Creative Planning bought a new position in shares of SL Green Realty during the 2nd quarter valued at $421,000. Finally, California Public Employees Retirement System grew its holdings in shares of SL Green Realty by 4.6% during the 2nd quarter. California Public Employees Retirement System now owns 131,528 shares of the real estate investment trust’s stock valued at $8,142,000 after purchasing an additional 5,789 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SLG. Barclays set a $52.00 price objective on SL Green Realty and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Evercore cut SL Green Realty from an “outperform” rating to an “in-line” rating and set a $56.00 target price for the company. in a report on Monday, July 6th. Truist Financial set a $57.00 price target on SL Green Realty and gave the stock a “hold” rating in a research report on Monday, August 24th. UBS Group set a $60.00 price target on SL Green Realty in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. increased their price objective on SL Green Realty from $51.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, August 25th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $56.83.

SL Green Realty Trading Up 1.2%

NYSE SLG opened at $55.56 on Friday. SL Green Realty Corporation has a 12 month low of $34.77 and a 12 month high of $66.29. The stock has a market cap of $3.95 billion, a P/E ratio of -20.35, a P/E/G ratio of 2.37 and a beta of 1.60. The stock’s fifty day moving average price is $54.07 and its 200-day moving average price is $46.37. 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 posted its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.21. The firm had revenue of $264.00 million during the quarter, compared to analyst estimates of $179.01 million. SL Green Realty had a negative return on equity of 4.37% and a negative net margin of 16.92%.SL Green Realty’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.63 EPS. As a group, equities analysts forecast that SL Green Realty Corporation will post 5.53 EPS 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. Stockholders of record on Tuesday, June 30th were paid a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, June 30th. SL Green Realty’s dividend payout ratio (DPR) is -90.48%.

Insider Buying and Selling

In other SL Green Realty news, insider Harrison Sitomer sold 23,113 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $57.71, for a total value of $1,333,851.23. Following the transaction, the insider owned 109,468 shares of the company’s stock, valued at approximately $6,317,398.28. This represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.94% of the company’s stock.

About SL Green Realty

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.