Cubist Systematic Strategies LLC Purchases Shares of 29,478 SL Green Realty Corp. (NYSE:SLG)

Cubist Systematic Strategies LLC bought a new stake in SL Green Realty Corp. (NYSE:SLG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 29,478 shares of the real estate investment trust's stock, valued at approximately $2,002,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in SL Green Realty in the fourth quarter valued at about $48,050,000. Northern Trust Corp lifted its position in shares of SL Green Realty by 79.9% during the 4th quarter. Northern Trust Corp now owns 1,429,636 shares of the real estate investment trust's stock valued at $97,101,000 after buying an additional 634,788 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of SL Green Realty by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust's stock valued at $735,594,000 after purchasing an additional 564,822 shares during the period. Balyasny Asset Management L.P. bought a new position in SL Green Realty in the 4th quarter worth about $29,000,000. Finally, Alyeska Investment Group L.P. increased its stake in SL Green Realty by 30.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,493,208 shares of the real estate investment trust's stock worth $101,419,000 after acquiring an additional 347,608 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Truist Financial cut their price objective on SL Green Realty from $62.00 to $54.00 and set a "hold" rating for the company in a report 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 for the company in a report on Monday, April 21st. Evercore ISI upgraded SL Green Realty from an "in-line" rating to an "outperform" rating and dropped their target price for the company from $74.00 to $73.00 in a report on Monday, March 17th. Wells Fargo & Company dropped their price objective on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. Finally, Scotiabank dropped their price objective on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy 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 $67.07.

SL Green Realty Stock Up 1.8%

Shares of SL Green Realty stock traded up $1.04 on Friday, reaching $59.05. The company's stock had a trading volume of 305,606 shares, compared to its average volume of 837,248. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 738.18, a P/E/G ratio of 5.30 and a beta of 1.59. The firm's fifty day simple moving average is $54.81 and its two-hundred day simple moving average is $64.54. SL Green Realty Corp. has a 52 week low of $45.15 and a 52 week high of $82.81. 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 posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.13. The business had revenue of $144.52 million during the quarter, compared to analyst estimates of $158.44 million. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. Equities analysts anticipate that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were paid a $0.2575 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.74%. SL Green Realty's dividend payout ratio (DPR) is currently -735.71%.

About SL Green Realty

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.