Algert Global LLC purchased a new position in SL Green Realty Corp. (NYSE:SLG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,877 shares of the real estate investment trust's stock, valued at approximately $399,000.
Several other hedge funds also recently bought and sold shares of the company. Walleye Capital LLC bought a new stake in shares of SL Green Realty during the 4th quarter valued at about $857,000. Wolverine Asset Management LLC bought a new stake in SL Green Realty during the fourth quarter valued at approximately $337,000. Charles Schwab Investment Management Inc. lifted its position in SL Green Realty by 12.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust's stock valued at $96,990,000 after purchasing an additional 159,870 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in SL Green Realty by 8.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust's stock worth $5,187,000 after buying an additional 6,158 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of SL Green Realty by 10.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust's stock worth $6,870,000 after buying an additional 9,753 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.
SL Green Realty Trading Up 1.4%
SLG traded up $0.83 during trading on Friday, hitting $58.84. 814,120 shares of the stock traded hands, compared to its average volume of 839,194. The firm has a market capitalization of $4.20 billion, a P/E ratio of 735.53, a price-to-earnings-growth ratio of 5.30 and a beta of 1.59. SL Green Realty Corp. has a 12-month low of $45.15 and a 12-month high of $82.81. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. The firm has a 50-day moving average of $54.81 and a 200 day moving average of $64.54.
SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, beating the consensus estimate of $1.27 by $0.13. The firm had revenue of $144.52 million during the quarter, compared to the consensus estimate of $158.44 million. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. Equities research analysts anticipate that SL Green Realty Corp. will post 5.43 EPS for the current year.
SL Green Realty Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were given a $0.2575 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.75%. SL Green Realty's dividend payout ratio is currently -735.71%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on SLG shares. Truist Financial dropped their price objective on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Bank of America reduced their price objective on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Barclays dropped their target price on SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company reduced their price target on shares of SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. Finally, Scotiabank decreased their price target on shares of SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $67.07.
View Our Latest Stock Report on SL Green Realty
About SL Green Realty
(
Free Report)
3SL Green Realty Corp., Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.
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