Alyeska Investment Group L.P. Increases Stock Position in SL Green Realty Corp. (NYSE:SLG)

Alyeska Investment Group L.P. lifted its stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 30.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,493,208 shares of the real estate investment trust's stock after buying an additional 347,608 shares during the period. Alyeska Investment Group L.P. owned approximately 2.26% of SL Green Realty worth $101,419,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new stake in SL Green Realty during the 4th quarter valued at about $39,000. Quadrant Capital Group LLC boosted its position in SL Green Realty by 37.4% in the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 208 shares during the last quarter. Versant Capital Management Inc increased its holdings in SL Green Realty by 17.7% in the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after buying an additional 157 shares during the period. Summit Securities Group LLC purchased a new position in SL Green Realty during the 4th quarter worth approximately $88,000. Finally, FIL Ltd lifted its stake in SL Green Realty by 53.3% during the 4th quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust's stock valued at $107,000 after acquiring an additional 550 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SLG shares. Jefferies Financial Group began coverage on shares of SL Green Realty in a report on Monday, March 17th. They set a "hold" rating and a $58.00 target price for the company. Truist Financial reduced their price objective on SL Green Realty from $62.00 to $54.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Piper Sandler dropped their target price on SL Green Realty from $90.00 to $72.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Scotiabank reduced their price target on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a research report on Friday, February 28th. Finally, Evercore ISI upgraded SL Green Realty from an "in-line" rating to an "outperform" rating and lowered their price objective for the stock from $74.00 to $73.00 in a research report on Monday, March 17th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $67.07.

SL Green Realty Price Performance

Shares of NYSE SLG traded down $0.59 during trading on Monday, hitting $54.72. The company had a trading volume of 538,732 shares, compared to its average volume of 847,880. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 684.00, a price-to-earnings-growth ratio of 5.30 and a beta of 1.61. SL Green Realty Corp. has a fifty-two week low of $45.15 and a fifty-two week high of $82.81. The stock has a fifty day simple moving average of $55.69 and a two-hundred day simple moving average of $65.49. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, topping the consensus estimate of $1.27 by $0.13. The firm had revenue of $144.52 million during the quarter, compared to analysts' expectations of $158.44 million. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. On average, research analysts expect that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be issued a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, April 30th. SL Green Realty's payout ratio is currently -735.71%.

SL Green Realty Company Profile

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.