Jupiter Asset Management Ltd. Takes $1.25 Million Position in SL Green Realty Corporation (NYSE:SLG)

Key Points

• Jupiter Asset Management Ltd. invested $1.25 million in SL Green Realty Corporation by acquiring 21,706 shares during the first quarter, as reported in their Form 13F filing.
• SL Green Realty's shares fell 1.1% recently, reaching a trading value of $55.45, with the company reporting a negative net margin of -2.21% in its quarterly earnings.
• The firm announced a dividend of $0.2575 per share to be paid on August 15th, representing a 510.0% dividend yield, despite a payout ratio of -572.22%.

Jupiter Asset Management Ltd. purchased a new stake in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 21,706 shares of the real estate investment trust's stock, valued at approximately $1,252,000.

Other large investors have also added to or reduced their stakes in the company. Northern Trust Corp raised its position in shares of SL Green Realty by 79.9% in the 4th quarter. Northern Trust Corp now owns 1,429,636 shares of the real estate investment trust's stock worth $97,101,000 after acquiring an additional 634,788 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in SL Green Realty in the fourth quarter worth $29,000,000. Alyeska Investment Group L.P. lifted its position in SL Green Realty by 30.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,493,208 shares of the real estate investment trust's stock valued at $101,419,000 after buying an additional 347,608 shares during the period. Hudson Bay Capital Management LP bought a new stake in shares of SL Green Realty during the 4th quarter valued at $18,139,000. Finally, GAMMA Investing LLC boosted its holdings in shares of SL Green Realty by 5,759.5% during the 1st quarter. GAMMA Investing LLC now owns 245,629 shares of the real estate investment trust's stock valued at $14,173,000 after buying an additional 241,437 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

Analyst Ratings Changes

SLG has been the subject of a number of recent research reports. Barclays lowered 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 research report on Wednesday, April 30th. Truist Financial boosted their price target on SL Green Realty from $54.00 to $58.00 and gave the stock a "hold" rating in a research report on Friday, July 18th. Piper Sandler reduced their price objective on SL Green Realty from $90.00 to $72.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. Finally, 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. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $67.29.

SL Green Realty Stock Performance

SLG stock traded down $0.81 during midday trading on Friday, reaching $53.63. 236,753 shares of the company's stock traded hands, compared to its average volume of 928,829. The company has a current ratio of 2.72, a quick ratio of 2.85 and a debt-to-equity ratio of 0.98. SL Green Realty Corporation has a 52-week low of $45.15 and a 52-week high of $82.81. The stock has a market cap of $3.82 billion, a P/E ratio of -99.31 and a beta of 1.69. The stock's 50-day moving average is $61.24 and its 200 day moving average is $59.54.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, topping the consensus estimate of $1.37 by $0.26. The firm had revenue of $147.54 million during the quarter, compared to analyst estimates of $171.24 million. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%. SL Green Realty's revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 EPS. As a group, analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

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

Insider Buying and Selling

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

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.