111 Capital Buys Shares of 5,399 SL Green Realty Corporation $SLG

Key Points

• 111 Capital acquired a new stake in SL Green Realty Corporation by purchasing 5,399 shares valued at approximately $334,000 in Q2, indicating growing interest from institutional investors.
• SL Green Realty reported a quarterly EPS of $1.63, surpassing analyst estimates, but had a negative net margin of 2.21% along with a revenue that fell short compared to expectations.
• The company declared a dividend of $0.2575 per share with a significant yield of 517.0%, though it currently has a negative dividend payout ratio of -572.22%.

111 Capital bought a new stake in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,399 shares of the real estate investment trust's stock, valued at approximately $334,000.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in SL Green Realty by 2.6% during the first quarter. Vanguard Group Inc. now owns 11,113,302 shares of the real estate investment trust's stock valued at $641,238,000 after purchasing an additional 283,009 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in SL Green Realty by 8.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,695,862 shares of the real estate investment trust's stock valued at $97,851,000 after purchasing an additional 130,206 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in SL Green Realty by 8.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,554,977 shares of the real estate investment trust's stock valued at $89,722,000 after purchasing an additional 126,969 shares during the last quarter. Nuveen LLC bought a new stake in SL Green Realty during the first quarter valued at approximately $87,878,000. Finally, Northern Trust Corp lifted its position in SL Green Realty by 2.1% during the first quarter. Northern Trust Corp now owns 1,458,980 shares of the real estate investment trust's stock valued at $84,183,000 after purchasing an additional 29,344 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Trading Down 0.6%

NYSE:SLG opened at $58.96 on Tuesday. The company has a fifty day moving average of $58.31 and a 200 day moving average of $58.18. SL Green Realty Corporation has a 52 week low of $45.15 and a 52 week high of $82.81. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $4.21 billion, a P/E ratio of -109.18 and a beta of 1.77.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.26. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The company had revenue of $147.54 million during the quarter, compared to analyst estimates of $171.24 million. During the same period in the prior year, the business posted $2.05 EPS. The firm's revenue was up 8.6% compared to the same quarter last year. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. On average, research analysts predict that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The company also recently declared a sep 25 dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.2575 per share. This represents a yield of 517.0%. The ex-dividend date is Tuesday, September 30th. SL Green Realty's dividend payout ratio is currently -572.22%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SLG shares. Scotiabank upgraded shares of SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 price objective for the company in a report on Friday, July 25th. Evercore ISI boosted their price objective on shares of SL Green Realty from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Monday, September 15th. JPMorgan Chase & Co. lowered their price objective on shares of SL Green Realty from $70.00 to $69.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. Citigroup upgraded shares of SL Green Realty from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $65.00 to $70.00 in a report on Friday, September 12th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of SL Green Realty in a report on Saturday, September 27th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $67.79.

Insider Buying and Selling

In related news, Director Carol N. Brown sold 937 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $63.09, for a total transaction of $59,115.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.04% of the stock is owned by corporate insiders.

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.

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