Jackson Creek Investment Advisors LLC bought a new stake in SL Green Realty Corporation (NYSE:SLG - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 23,866 shares of the real estate investment trust's stock, valued at approximately $1,377,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC raised its stake in shares of SL Green Realty by 37.4% during the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 208 shares in the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of SL Green Realty during the fourth quarter valued at about $75,000. GF Fund Management CO. LTD. bought a new stake in shares of SL Green Realty during the fourth quarter valued at about $80,000. Summit Securities Group LLC bought a new stake in shares of SL Green Realty during the fourth quarter valued at about $88,000. Finally, FIL Ltd raised its stake in shares of SL Green Realty by 53.3% during the fourth quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust's stock valued at $107,000 after purchasing an additional 550 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.
SL Green Realty Stock Down 0.5%
NYSE:SLG traded down $0.31 on Friday, hitting $61.00. 60,214 shares of the company's stock traded hands, compared to its average volume of 886,134. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 0.99. SL Green Realty Corporation has a 1 year low of $45.15 and a 1 year high of $82.81. The firm has a 50-day moving average price of $60.99 and a 200-day moving average price of $60.32. The company has a market cap of $4.35 billion, a PE ratio of -113.19 and a beta of 1.65.
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 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.26. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%. The company had revenue of $147.54 million for the quarter, compared to analysts' expectations of $171.24 million. During the same quarter in the previous year, the business posted $2.05 EPS. The business's revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.
SL Green Realty Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.2575 per share. The ex-dividend date was Monday, June 30th. This represents a $1.03 annualized dividend and a yield of 1.69%. SL Green Realty's dividend payout ratio (DPR) is presently -572.22%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on SLG. Piper Sandler cut their price objective on shares of SL Green Realty from $90.00 to $72.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of SL Green Realty in a research report on Friday, May 23rd. JPMorgan Chase & Co. dropped their price target on shares of SL Green Realty from $70.00 to $69.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Wells Fargo & Company dropped their price target on shares of 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. Finally, Truist Financial boosted 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 report on Friday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $65.60.
Check Out Our Latest Report on SL Green Realty
About SL Green Realty
(
Free Report)
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.
Further Reading
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