Intech Investment Management LLC Buys 13,048 Shares of SL Green Realty Corporation $SLG

Key Points

• Intech Investment Management LLC increased its stake in SL Green Realty Corporation by 36.9% during the first quarter, owning approximately 48,390 shares worth about $2.79 million.
• A number of institutional investors have also significantly raised their holdings in SL Green Realty, with Game Plan Financial Advisors increasing their stake by an astonishing 1,127.3% during the same period.
• Analysts have mixed opinions on SL Green Realty, with ratings ranging from upgrade to "buy" from Citigroup and others downgrading it to "sell," resulting in a consensus rating of "Hold."

Intech Investment Management LLC increased its holdings in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) by 36.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,390 shares of the real estate investment trust's stock after acquiring an additional 13,048 shares during the period. Intech Investment Management LLC owned approximately 0.07% of SL Green Realty worth $2,792,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new position in shares of SL Green Realty in the fourth quarter worth approximately $75,000. GF Fund Management CO. LTD. purchased a new stake in shares of SL Green Realty in the fourth quarter worth $80,000. State of Wyoming purchased a new stake in shares of SL Green Realty in the first quarter worth $172,000. KBC Group NV increased its stake in shares of SL Green Realty by 20.9% in the first quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust's stock worth $193,000 after purchasing an additional 577 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of SL Green Realty by 13.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,889 shares of the real estate investment trust's stock worth $224,000 after purchasing an additional 466 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

SL Green Realty Price Performance

Shares of NYSE:SLG traded down $1.51 on Friday, reaching $61.52. The company's stock had a trading volume of 2,142,020 shares, compared to its average volume of 1,011,088. SL Green Realty Corporation has a 52-week low of $45.15 and a 52-week high of $82.81. The company has a market cap of $4.39 billion, a P/E ratio of -113.92 and a beta of 1.74. The company has a 50-day simple moving average of $58.48 and a 200 day simple moving average of $58.06. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.72 and a current ratio of 2.72.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $171.24 million. During the same period last year, the company posted $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. As a group, equities research analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently disclosed a sep 25 dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.2575 dividend. This represents a yield of 502.0%. The ex-dividend date of this dividend is Tuesday, September 30th. SL Green Realty's dividend payout ratio is -572.22%.

Insiders Place Their Bets

In related news, Director Carol N. Brown sold 937 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $63.09, for a total value of $59,115.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.04% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SLG has been the subject of several research analyst reports. 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. Evercore ISI raised their target price on shares of SL Green Realty from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Monday. JPMorgan Chase & Co. cut their target price 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. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of SL Green Realty in a research note on Friday, May 23rd. Finally, Scotiabank raised shares of SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 target price for the company in a research note on Friday, July 25th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $67.79.

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.