Allspring Global Investments Holdings LLC Makes New Investment in SL Green Realty Corporation $SLG

Allspring Global Investments Holdings LLC acquired a new stake in shares of SL Green Realty Corporation (NYSE:SLG) in the 1st quarter, Holdings Channel.com reports. The fund acquired 24,399 shares of the real estate investment trust’s stock, valued at approximately $895,000.

A number of other institutional investors have also recently made changes to their positions in the company. Calamos Wealth Management LLC bought a new stake in SL Green Realty in the 1st quarter worth approximately $274,000. Calamos Advisors LLC purchased a new position in shares of SL Green Realty in the first quarter valued at $274,000. Principal Financial Group Inc. increased its position in SL Green Realty by 2.2% in the first quarter. Principal Financial Group Inc. now owns 345,868 shares of the real estate investment trust’s stock worth $12,776,000 after purchasing an additional 7,318 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in SL Green Realty by 22.0% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,936 shares of the real estate investment trust’s stock worth $1,845,000 after purchasing an additional 9,020 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in SL Green Realty by 826.3% during the first quarter. Fifth Third Bancorp now owns 23,527 shares of the real estate investment trust’s stock valued at $869,000 after purchasing an additional 20,987 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on SLG. LADENBURG THALM/SH SH lifted their price objective on shares of SL Green Realty from $42.00 to $46.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Weiss Ratings raised SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Citigroup reiterated a “buy” rating and issued a $60.00 target price (up from $45.00) on shares of SL Green Realty in a report on Friday. Evercore lowered SL Green Realty from an “outperform” rating to an “in-line” rating and set a $56.00 price target on the stock. in a report on Monday, July 6th. Finally, Wall Street Zen raised shares of SL Green Realty from a “strong sell” rating to a “sell” rating in a research note on Saturday. Seven equities research 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 MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $54.95.

SL Green Realty Price Performance

SLG opened at $53.87 on Tuesday. The business has a fifty day moving average of $49.12 and a 200 day moving average of $44.16. The stock has a market cap of $3.85 billion, a P/E ratio of -19.73 and a beta of 1.58. The company has a quick ratio of 3.03, a current ratio of 3.10 and a debt-to-equity ratio of 1.12. SL Green Realty Corporation has a 52-week low of $34.77 and a 52-week high of $66.29.

SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, July 22nd. The real estate investment trust reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.21. SL Green Realty had a negative return on equity of 4.43% and a negative net margin of 16.92%.The business had revenue of $171.85 million for the quarter, compared to analyst estimates of $179.01 million. During the same quarter last year, the firm posted $1.63 earnings per share. The business’s revenue was up 16.5% compared to the same quarter last year. SL Green Realty has set its FY 2026 guidance at 5.600-5.900 EPS. As a group, sell-side analysts anticipate that SL Green Realty Corporation will post 4.53 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.6175 dividend. This represents a $2.47 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, June 30th. SL Green Realty’s dividend payout ratio (DPR) is currently -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.