Cubist Systematic Strategies LLC Makes New $2 Million Investment in SL Green Realty Corp. (NYSE:SLG)

Cubist Systematic Strategies LLC purchased a new stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 29,478 shares of the real estate investment trust's stock, valued at approximately $2,002,000.

Other large investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new position in SL Green Realty during the fourth quarter valued at approximately $39,000. Quadrant Capital Group LLC raised its position in shares of SL Green Realty by 37.4% during 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. Summit Securities Group LLC bought a new stake in shares of SL Green Realty during the fourth quarter valued at approximately $88,000. FIL Ltd raised its position in shares of SL Green Realty by 53.3% during the fourth quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust's stock valued at $107,000 after buying an additional 550 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of SL Green Realty by 106.3% during the fourth quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock valued at $116,000 after buying an additional 857 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on SLG. Barclays dropped their price objective on shares of SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Jefferies Financial Group assumed coverage on shares of SL Green Realty in a report on Monday, March 17th. They issued a "hold" rating and a $58.00 price target on the stock. Morgan Stanley upped their price objective on SL Green Realty from $52.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 12th. Piper Sandler lowered their price objective on SL Green Realty from $90.00 to $72.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Finally, Scotiabank lowered their price objective on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $67.07.

SL Green Realty Price Performance

NYSE SLG traded up $0.83 during mid-day trading on Friday, hitting $58.84. The stock had a trading volume of 814,120 shares, compared to its average volume of 840,460. The firm's 50 day moving average is $54.84 and its 200 day moving average is $64.32. SL Green Realty Corp. has a twelve month low of $45.15 and a twelve 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 stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 735.53, a PEG ratio of 5.30 and a beta of 1.59.

SL Green Realty (NYSE:SLG - Get Free Report) last posted 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. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. The firm had revenue of $144.52 million during the quarter, compared to the consensus estimate of $158.44 million. Equities research analysts forecast that SL Green Realty Corp. will post 5.43 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 Thursday, May 15th. Investors of record on Wednesday, April 30th were paid a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Wednesday, April 30th. SL Green Realty's dividend payout ratio is currently -735.71%.

SL Green Realty 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.