Nan Fung Trinity HK Ltd. Makes New Investment in SL Green Realty Corporation (NYSE:SLG)

Key Points

• Nan Fung Trinity HK Ltd. acquired 38,100 shares of SL Green Realty Corporation, valued at approximately $2.2 million, which represents 0.05% ownership in the firm.
• The company reported an earnings per share (EPS) of $1.63 for the last quarter, exceeding estimates but showing a decline compared to the previous year's EPS of $2.05.
• SL Green Realty's dividend yield stands at 5.1%, with a scheduled payment of $0.2575 per share to shareholders of record by August 15th.

Nan Fung Trinity HK Ltd. bought a new position in SL Green Realty Corporation (NYSE:SLG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 38,100 shares of the real estate investment trust's stock, valued at approximately $2,198,000. Nan Fung Trinity HK Ltd. owned about 0.05% of SL Green Realty as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in SLG. Raymond James Financial Inc. purchased a new position in shares of SL Green Realty during the fourth quarter valued at approximately $1,275,000. American Century Companies Inc. lifted its holdings in SL Green Realty by 28.9% in the fourth quarter. American Century Companies Inc. now owns 106,807 shares of the real estate investment trust's stock worth $7,254,000 after buying an additional 23,977 shares during the period. Sei Investments Co. boosted its position in SL Green Realty by 69.4% during the 4th quarter. Sei Investments Co. now owns 84,155 shares of the real estate investment trust's stock valued at $5,716,000 after acquiring an additional 34,483 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of SL Green Realty during the 4th quarter worth approximately $925,000. Finally, LPL Financial LLC grew its holdings in shares of SL Green Realty by 4.7% during the 4th quarter. LPL Financial LLC now owns 18,613 shares of the real estate investment trust's stock worth $1,264,000 after acquiring an additional 844 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SL Green Realty

In related news, Director Carol N. Brown sold 2,500 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $60.61, for a total transaction of $151,525.00. Following the completion of the sale, the director directly owned 937 shares in the company, valued at approximately $56,791.57. The trade was a 72.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.04% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Truist Financial lifted their price target on SL Green Realty from $54.00 to $58.00 and gave the company a "hold" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. lowered their price objective on SL Green Realty from $70.00 to $69.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Piper Sandler reduced their target price on shares of 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. Wall Street Zen lowered shares of SL Green Realty from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Finally, Barclays dropped their price objective on shares of SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, SL Green Realty currently has an average rating of "Hold" and an average target price of $65.60.

SL Green Realty Stock Performance

NYSE SLG traded down $1.67 during trading hours on Wednesday, hitting $57.58. The company's stock had a trading volume of 1,403,951 shares, compared to its average volume of 1,048,390. The company's 50 day simple moving average is $61.29 and its two-hundred day simple moving average is $59.93. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.72 and a quick ratio of 2.85. The company has a market cap of $4.11 billion, a P/E ratio of -106.63 and a beta of 1.65. SL Green Realty Corporation has a 12 month low of $45.15 and a 12 month high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.26. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%. The firm had revenue of $147.54 million for the quarter, compared to the consensus estimate of $171.24 million. During the same period last year, the business posted $2.05 EPS. The company's revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts expect that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently declared a jul 25 dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.2575 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a dividend yield of 5.1%. SL Green Realty's dividend payout ratio is currently -572.22%.

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.