BNP Paribas Financial Markets Makes New $1.83 Million Investment in SL Green Realty Corp. (NYSE:SLG)

BNP Paribas Financial Markets bought a new position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 26,977 shares of the real estate investment trust's stock, valued at approximately $1,832,000.

Other hedge funds have also recently made changes to their positions in the company. Walleye Capital LLC purchased a new position in shares of SL Green Realty during the 4th quarter worth approximately $857,000. Wolverine Asset Management LLC purchased a new position in shares of SL Green Realty during the 4th quarter worth approximately $337,000. Charles Schwab Investment Management Inc. boosted its position in shares of SL Green Realty by 12.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust's stock worth $96,990,000 after purchasing an additional 159,870 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of SL Green Realty by 8.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust's stock worth $5,187,000 after purchasing an additional 6,158 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in shares of SL Green Realty by 10.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust's stock worth $6,870,000 after purchasing an additional 9,753 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.

SL Green Realty Stock Down 0.3%

SLG stock traded down $0.16 during midday trading on Tuesday, reaching $58.27. 420,160 shares of the company were exchanged, compared to its average volume of 839,060. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. SL Green Realty Corp. has a 1-year low of $45.15 and a 1-year high of $82.81. The stock's 50-day simple moving average is $54.85 and its 200 day simple moving average is $64.13. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 728.38, a price-to-earnings-growth ratio of 5.30 and a beta of 1.59.

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

SL Green Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.2575 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.03 dividend on an annualized basis and a yield of 1.77%. SL Green Realty's payout ratio is currently -735.71%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Barclays lowered 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. Wells Fargo & Company lowered their price objective on shares of SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating for the company in a research note on Monday. Evercore ISI raised shares of SL Green Realty from an "in-line" rating to an "outperform" rating and lowered their price objective for the company from $74.00 to $73.00 in a research note on Monday, March 17th. Scotiabank lowered their price objective on shares of SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Finally, Morgan Stanley raised their price objective on shares of SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $66.33.

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.