Fifth Third Bancorp Boosts Position in SL Green Realty Corporation $SLG

Fifth Third Bancorp grew its stake in shares of SL Green Realty Corporation (NYSE:SLG) by 826.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 23,527 shares of the real estate investment trust’s stock after acquiring an additional 20,987 shares during the period. Fifth Third Bancorp’s holdings in SL Green Realty were worth $869,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SLG. Triumph Capital Management bought a new position in shares of SL Green Realty in the third quarter valued at approximately $45,000. Davis Capital Management bought a new stake in SL Green Realty during the 1st quarter worth approximately $46,000. Fourth Dimension Wealth LLC increased its holdings in SL Green Realty by 45.5% during the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 500 shares during the period. Hantz Financial Services Inc. lifted its stake in SL Green Realty by 30.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 378 shares in the last quarter. Finally, Leonteq Securities AG lifted its stake in SL Green Realty by 4,194.0% in the 1st quarter. Leonteq Securities AG now owns 2,147 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 2,097 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on SLG. Wells Fargo & Company boosted their price target on shares of SL Green Realty from $40.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Scotiabank reissued an “outperform” rating and set a $56.00 price objective (up from $53.00) on shares of SL Green Realty in a research note on Tuesday, July 21st. Mizuho boosted their target price on SL Green Realty from $38.00 to $46.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. upped their target price on SL Green Realty from $49.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Finally, Citigroup reaffirmed a “buy” rating and issued a $60.00 price target (up from $45.00) on shares of SL Green Realty in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.75.

SL Green Realty Stock Performance

SL Green Realty stock opened at $54.62 on Monday. SL Green Realty Corporation has a fifty-two week low of $34.77 and a fifty-two week high of $66.29. The company has a debt-to-equity ratio of 1.12, a quick ratio of 3.03 and a current ratio of 3.10. The stock has a market cap of $3.90 billion, a P/E ratio of -20.01 and a beta of 1.58. The firm’s fifty day moving average price is $48.91 and its 200-day moving average price is $44.12.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, July 22nd. 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 company had revenue of $171.85 million during the quarter, compared to analyst estimates of $179.01 million. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.43%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 earnings per share. SL Green Realty has set its FY 2026 guidance at 5.600-5.900 EPS. On average, equities research analysts expect that SL Green Realty Corporation will post 4.53 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

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

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.