Jupiter Asset Management Ltd. Makes New Investment in SL Green Realty Corporation (NYSE:SLG)

Jupiter Asset Management Ltd. bought a new position in SL Green Realty Corporation (NYSE:SLG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 21,706 shares of the real estate investment trust's stock, valued at approximately $1,252,000.

A number of other large investors have also added to or reduced their stakes in SLG. Walleye Capital LLC purchased a new position in SL Green Realty during the 4th quarter worth $857,000. Summit Place Financial Advisors LLC grew its stake in SL Green Realty by 149.6% during the 1st quarter. Summit Place Financial Advisors LLC now owns 17,845 shares of the real estate investment trust's stock worth $1,030,000 after buying an additional 10,695 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in SL Green Realty by 6.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,741 shares of the real estate investment trust's stock worth $389,000 after buying an additional 384 shares during the last quarter. KBC Group NV grew its stake in SL Green Realty by 20.9% during the 1st quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust's stock worth $193,000 after buying an additional 577 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in SL Green Realty by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 348,870 shares of the real estate investment trust's stock worth $20,130,000 after buying an additional 6,112 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on SLG. Wall Street Zen downgraded SL Green Realty from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SL Green Realty in a research note on Friday, May 23rd. Truist Financial boosted their target price on SL Green Realty from $54.00 to $58.00 and gave the stock a "hold" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. dropped their price target on SL Green Realty from $70.00 to $69.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Finally, Barclays dropped their price target on SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $67.29.

Insider Activity at SL Green Realty

In related news, Director Carol N. Brown sold 2,500 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $60.61, for a total value of $151,525.00. Following the completion of the transaction, the director owned 937 shares of the company's stock, valued at approximately $56,791.57. This represents a 72.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.04% of the stock is owned by insiders.

SL Green Realty Stock Up 0.5%

Shares of SLG opened at $56.03 on Tuesday. SL Green Realty Corporation has a 52 week low of $45.15 and a 52 week high of $82.81. The company has a quick ratio of 2.85, a current ratio of 2.72 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of -103.76 and a beta of 1.69. The stock's 50-day moving average price is $61.39 and its 200-day moving average price is $59.68.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its earnings results 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 return on equity of 1.19% and a negative net margin of 2.21%. The firm had revenue of $147.54 million for the quarter, compared to the consensus estimate of $171.24 million. During the same quarter in the prior year, the business earned $2.05 earnings per share. The company's revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts predict that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The business also recently announced a jul 25 dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be paid a $0.2575 dividend. The ex-dividend date is Thursday, July 31st. This represents a dividend yield of 510.0%. SL Green Realty's dividend payout ratio is presently -572.22%.

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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