BNP Paribas Financial Markets Buys Shares of 26,977 SL Green Realty Corp. (NYSE:SLG)

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

A number of other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its holdings in SL Green Realty by 49.2% during the fourth quarter. Ameriprise Financial Inc. now owns 300,721 shares of the real estate investment trust's stock worth $20,437,000 after purchasing an additional 99,167 shares in the last quarter. Algert Global LLC acquired a new stake in SL Green Realty during the fourth quarter worth approximately $399,000. Alyeska Investment Group L.P. raised its holdings in SL Green Realty by 30.3% during the fourth 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 purchasing an additional 347,608 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in SL Green Realty by 108.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,677 shares of the real estate investment trust's stock worth $454,000 after purchasing an additional 3,467 shares in the last quarter. Finally, Comerica Bank raised its holdings in SL Green Realty by 4.5% during the fourth quarter. Comerica Bank now owns 28,348 shares of the real estate investment trust's stock worth $1,925,000 after purchasing an additional 1,210 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

SL Green Realty Stock Performance

NYSE:SLG traded up $0.31 during midday trading on Friday, reaching $55.54. The stock had a trading volume of 705,881 shares, compared to its average volume of 840,246. The firm has a fifty day simple moving average of $54.78 and a two-hundred day simple moving average of $63.73. SL Green Realty Corp. has a 12-month low of $45.15 and a 12-month 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. The stock has a market cap of $3.96 billion, a P/E ratio of 694.25, a P/E/G 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 earnings per share for the quarter, beating 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 firm had revenue of $144.52 million for the quarter, compared to analyst estimates of $158.44 million. On average, equities analysts expect that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Friday, May 30th. SL Green Realty's dividend payout ratio (DPR) is currently -735.71%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SLG. Piper Sandler cut their price objective on shares of SL Green Realty from $90.00 to $72.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Truist Financial cut their price objective on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Scotiabank cut their price objective on shares of SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Evercore ISI raised shares of SL Green Realty from an "in-line" rating to an "outperform" rating and cut their price objective for the stock from $74.00 to $73.00 in a report on Monday, March 17th. Finally, Bank of America lowered their target price on shares of SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $66.33.

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.