GAMMA Investing LLC Purchases 241,437 Shares of SL Green Realty Corp. (NYSE:SLG)

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

A number of other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp acquired a new stake in SL Green Realty in the fourth quarter worth $39,000. Quadrant Capital Group LLC grew its holdings in SL Green Realty by 37.4% in the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 208 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in SL Green Realty in the fourth quarter worth $75,000. GF Fund Management CO. LTD. acquired a new stake in SL Green Realty in the fourth quarter worth $80,000. Finally, Summit Securities Group LLC acquired a new stake in SL Green Realty in the fourth quarter worth $88,000. Institutional investors own 89.96% of the company's stock.

Wall Street Analysts Forecast Growth

SLG has been the subject of a number of research reports. Barclays reduced their price target on shares of SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Evercore ISI upgraded shares of SL Green Realty from an "in-line" rating to an "outperform" rating and reduced their price objective for the company from $74.00 to $73.00 in a report on Monday, March 17th. Truist Financial reduced their price objective on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Wall Street Zen cut shares of SL Green Realty from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, SL Green Realty has a consensus rating of "Hold" and an average price target of $66.33.

SL Green Realty Stock Up 3.9%

SLG opened at $64.45 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. The company's 50-day moving average is $54.90 and its 200 day moving average is $62.40. SL Green Realty Corp. has a fifty-two week low of $45.15 and a fifty-two week high of $82.81. The firm has a market capitalization of $4.60 billion, a P/E ratio of 805.63, a PEG ratio of 5.30 and a beta of 1.66.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, topping the consensus estimate of $1.27 by $0.13. The business had revenue of $144.52 million for the quarter, compared to analyst estimates of $158.44 million. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. Research analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Friday, May 30th. SL Green Realty's dividend payout ratio is -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.

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