Caxton Associates LLP Takes Position in SL Green Realty Corporation $SLG

Key Points

• Caxton Associates LLP has acquired a new stake in SL Green Realty Corporation, purchasing 8,240 shares valued at around $475,000 in the first quarter.
• SL Green Realty's stock recently saw a 4.8% increase, with a current market cap of $4.52 billion and a price-to-earnings ratio of -117.33.
• The company announced a $0.2575 dividend to be paid on September 15th, representing a significant yield, although its dividend payout ratio is currently negative at -572.22%.

Caxton Associates LLP bought a new stake in SL Green Realty Corporation (NYSE:SLG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,240 shares of the real estate investment trust's stock, valued at approximately $475,000.

Several other large investors have also modified their holdings of the stock. Mackenzie Financial Corp boosted its holdings in shares of SL Green Realty by 4.7% in the 1st quarter. Mackenzie Financial Corp now owns 5,324 shares of the real estate investment trust's stock valued at $307,000 after buying an additional 240 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in SL Green Realty by 2.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 10,257 shares of the real estate investment trust's stock worth $592,000 after purchasing an additional 247 shares during the period. KLP Kapitalforvaltning AS boosted its stake in SL Green Realty by 2.2% during the 1st quarter. KLP Kapitalforvaltning AS now owns 13,874 shares of the real estate investment trust's stock worth $804,000 after purchasing an additional 300 shares during the period. Two Sigma Advisers LP boosted its stake in SL Green Realty by 1.3% during the 4th quarter. Two Sigma Advisers LP now owns 24,316 shares of the real estate investment trust's stock worth $1,652,000 after purchasing an additional 301 shares during the period. Finally, Xponance Inc. boosted its stake in SL Green Realty by 6.6% during the 1st quarter. Xponance Inc. now owns 5,745 shares of the real estate investment trust's stock worth $331,000 after purchasing an additional 357 shares during the period. Institutional investors and hedge funds own 89.96% of the company's stock.

SL Green Realty Stock Performance

Shares of SLG stock traded up $2.38 during mid-day trading on Friday, hitting $65.71. The stock had a trading volume of 1,612,121 shares, compared to its average volume of 846,648. SL Green Realty Corporation has a fifty-two week low of $45.15 and a fifty-two week high of $82.81. The firm has a market cap of $4.69 billion, a PE ratio of -121.68 and a beta of 1.74. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.72 and a quick ratio of 2.72. The company's 50-day simple moving average is $58.39 and its 200-day simple moving average is $57.97.

SL Green Realty (NYSE:SLG - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $171.24 million. During the same quarter last year, the business earned $2.05 EPS. The business's revenue was up 8.6% on a year-over-year basis. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. Sell-side analysts anticipate that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The business also recently declared a aug 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.2575 dividend. This represents a dividend yield of 543.0%. The ex-dividend date is Friday, August 29th. SL Green Realty's dividend payout ratio (DPR) is currently -572.22%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SLG. Truist Financial increased their price target on shares of SL Green Realty from $54.00 to $58.00 and gave the stock a "hold" rating in a research note on Friday, July 18th. Wall Street Zen cut shares of SL Green Realty from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Wells Fargo & Company decreased their price target 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, May 19th. JPMorgan Chase & Co. decreased their price target on shares of SL Green Realty from $70.00 to $69.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Finally, Scotiabank upgraded shares of SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 price target for the company in a research note on Friday, July 25th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, SL Green Realty has a consensus rating of "Hold" and an average target price of $67.57.

Insider Activity

In other news, Director Carol N. Brown sold 2,500 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $60.61, for a total value of $151,525.00. Following the completion of the transaction, the director owned 937 shares in the company, valued at $56,791.57. This trade represents a 72.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.04% of the stock is owned by corporate insiders.

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.