Caxton Associates LLP Acquires New Shares 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 position in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,240 shares of the real estate investment trust's stock, valued at approximately $475,000.

Other institutional investors have also modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new stake in shares of SL Green Realty during the 4th quarter worth approximately $75,000. GF Fund Management CO. LTD. bought a new position in SL Green Realty in the 4th quarter worth approximately $80,000. State of Wyoming acquired a new stake in SL Green Realty in the 1st quarter valued at approximately $172,000. KBC Group NV raised its stake in SL Green Realty by 20.9% during the 1st quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust's stock valued at $193,000 after acquiring an additional 577 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in SL Green Realty by 13.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,889 shares of the real estate investment trust's stock valued at $224,000 after acquiring an additional 466 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

SL Green Realty Stock Performance

SLG traded down $2.92 during trading on Wednesday, reaching $62.75. 1,081,858 shares of the company's stock were exchanged, compared to its average volume of 927,394. The company has a market capitalization of $4.48 billion, a P/E ratio of -116.17 and a beta of 1.74. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.98. SL Green Realty Corporation has a fifty-two week low of $45.15 and a fifty-two week high of $82.81. The business has a 50 day moving average price of $58.55 and a 200 day moving average price of $58.03.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share 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 business had revenue of $147.54 million for the quarter, compared to analyst estimates of $171.24 million. During the same quarter in the prior year, the firm earned $2.05 EPS. The firm's quarterly 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. As a group, analysts predict that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently announced a aug 25 dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.2575 per share. This represents a dividend yield of 543.0%. The ex-dividend date was Friday, August 29th. SL Green Realty's dividend payout ratio is presently -572.22%.

Insiders Place Their Bets

In other news, Director Carol N. Brown sold 937 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $63.09, for a total transaction of $59,115.33. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.04% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SLG shares. Truist Financial upped 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 lowered SL Green Realty from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of SL Green Realty in a research note on Friday, May 23rd. JPMorgan Chase & Co. lowered their target price on SL Green Realty from $70.00 to $69.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Finally, Evercore ISI upped their price target on shares of SL Green Realty from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Monday. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $67.79.

About SL Green Realty

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.