Jackson Creek Investment Advisors LLC Makes New Investment in SL Green Realty Corporation (NYSE:SLG)

Jackson Creek Investment Advisors LLC acquired a new stake in SL Green Realty Corporation (NYSE:SLG - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 23,866 shares of the real estate investment trust's stock, valued at approximately $1,377,000.

A number of other hedge funds have also bought and sold shares of SLG. Quadrant Capital Group LLC lifted its holdings 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 last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of SL Green Realty during the 4th quarter worth $75,000. GF Fund Management CO. LTD. bought a new stake in shares of SL Green Realty during the 4th quarter worth $80,000. Summit Securities Group LLC bought a new stake in shares of SL Green Realty during the 4th quarter worth $88,000. Finally, FIL Ltd lifted its holdings in shares of SL Green Realty by 53.3% during the 4th quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust's stock worth $107,000 after acquiring an additional 550 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Carol N. Brown sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $60.61, for a total value of $151,525.00. Following the transaction, the director owned 937 shares in the company, valued at $56,791.57. This trade represents a 72.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.04% of the company's stock.

SL Green Realty Stock Down 0.4%

NYSE SLG traded down $0.23 during trading on Monday, hitting $59.97. The stock had a trading volume of 785,364 shares, compared to its average volume of 886,696. The company has a market capitalization of $4.28 billion, a PE ratio of 10.73 and a beta of 1.65. The company's 50-day moving average price is $61.06 and its two-hundred day moving average price is $60.16. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.85 and a current ratio of 2.72. SL Green Realty Corporation has a 12 month low of $45.15 and a 12 month high of $82.81.

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 analysts' consensus estimates 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 firm had revenue of $147.54 million during the quarter, compared to the consensus estimate of $171.24 million. During the same period in the prior year, the company posted $2.05 EPS. The company's revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.2575 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.03 annualized dividend and a yield of 1.72%. SL Green Realty's dividend payout ratio is currently -572.22%.

Analysts Set New Price Targets

A number of research firms have weighed in on SLG. Wall Street Zen downgraded SL Green Realty from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Wells Fargo & Company reduced their price objective on shares of SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. JPMorgan Chase & Co. dropped their price objective 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. Piper Sandler decreased 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 report on Monday, April 21st. Finally, 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. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $65.60.

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.