GAMMA Investing LLC Has $14.17 Million Stake in SL Green Realty Corp. (NYSE:SLG)

GAMMA Investing LLC raised its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 5,759.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 245,629 shares of the real estate investment trust's stock after purchasing an additional 241,437 shares during the quarter. GAMMA Investing LLC owned approximately 0.34% of SL Green Realty worth $14,173,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norinchukin Bank The increased its position in SL Green Realty by 6.6% during the fourth quarter. Norinchukin Bank The now owns 3,117 shares of the real estate investment trust's stock worth $212,000 after buying an additional 192 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of SL Green Realty by 37.4% during the 4th quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock worth $52,000 after acquiring an additional 208 shares during the period. Natixis Advisors LLC increased its holdings in shares of SL Green Realty by 1.3% during the 4th quarter. Natixis Advisors LLC now owns 21,820 shares of the real estate investment trust's stock worth $1,482,000 after acquiring an additional 284 shares during the last quarter. Two Sigma Advisers LP raised its stake in SL Green Realty by 1.3% in the 4th quarter. Two Sigma Advisers LP now owns 24,316 shares of the real estate investment trust's stock valued at $1,652,000 after acquiring an additional 301 shares during the period. Finally, Mariner LLC lifted its holdings in SL Green Realty by 2.1% during the 4th quarter. Mariner LLC now owns 18,241 shares of the real estate investment trust's stock valued at $1,239,000 after purchasing an additional 379 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Evercore ISI upgraded shares of SL Green Realty from an "in-line" rating to an "outperform" rating and cut their target price for the stock from $74.00 to $73.00 in a research note on Monday, March 17th. Piper Sandler cut their price objective on shares of SL Green Realty from $90.00 to $72.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Wells Fargo & Company decreased their target price on SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of SL Green Realty in a research note on Friday, May 23rd. Finally, Jefferies Financial Group started coverage on SL Green Realty in a report on Monday, March 17th. They set a "hold" rating and a $58.00 price target for the company. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, SL Green Realty has an average rating of "Hold" and a consensus target price of $66.33.

SL Green Realty Price Performance

Shares of NYSE SLG traded up $1.21 during midday trading on Tuesday, reaching $65.57. 907,424 shares of the company were exchanged, compared to its average volume of 849,108. The stock's 50-day moving average price is $55.01 and its 200-day moving average price is $62.07. The stock has a market cap of $4.68 billion, a P/E ratio of 819.66, a PEG ratio of 5.30 and a beta of 1.66. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. SL Green Realty Corp. has a one year low of $45.15 and a one year high of $82.81.

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 (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.13. The company had revenue of $144.52 million during the quarter, compared to the consensus estimate of $158.44 million. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. On average, sell-side analysts anticipate that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The business 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 dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, May 30th. SL Green Realty's payout ratio is presently -735.71%.

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.