PEAK6 LLC Takes Position in SL Green Realty Corporation $SLG

Key Points

• PEAK6 LLC acquired 70,293 shares of SL Green Realty during the second quarter, worth approximately $3.64 million and representing 0.10% of the REIT. Institutional investors and hedge funds collectively own 89.96% of SLG.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” from 19 analysts and an average price target of $55.15. Recent targets range from $44 to $79.
• SL Green reported quarterly revenue of $264 million and an adjusted earnings loss of $0.38 per share, surpassing analyst expectations; the company also maintains a $0.6175 quarterly dividend, equivalent to a 4.3% annual yield.

PEAK6 LLC purchased a new position in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 70,293 shares of the real estate investment trust's stock, valued at approximately $3,639,000. PEAK6 LLC owned 0.10% of SL Green Realty as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SLG. BlackRock Inc. purchased a new position in shares of SL Green Realty during the second quarter worth about $706,881,000. Cohen & Steers Inc. acquired a new stake in shares of SL Green Realty in the 4th quarter valued at about $121,675,000. Deutsche Bank AG purchased a new position in SL Green Realty during the 2nd quarter worth approximately $58,202,000. Goldman Sachs Group Inc. increased its position in SL Green Realty by 62.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust's stock worth $133,862,000 after buying an additional 1,117,357 shares during the period. Finally, Norges Bank purchased a new stake in SL Green Realty in the fourth quarter valued at approximately $44,094,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SLG. Weiss Ratings upgraded shares of SL Green Realty from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, May 28th. Piper Sandler set a $79.00 price target on shares of SL Green Realty and gave the stock an "overweight" rating in a research note on Friday, July 24th. Morgan Stanley set a $52.00 price objective on shares of SL Green Realty and gave the stock an "equal weight" rating in a research report on Wednesday, July 22nd. Wells Fargo & Company upped their target price on shares of SL Green Realty from $40.00 to $44.00 and gave the company an "equal weight" rating in a report on Monday, June 1st. Finally, Wall Street Zen downgraded shares of SL Green Realty from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $55.15.

SL Green Realty Stock Up 0.2%

SLG opened at $57.55 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.10 and a quick ratio of 3.10. The business has a 50 day simple moving average of $52.76 and a 200-day simple moving average of $45.34. The stock has a market capitalization of $4.09 billion, a P/E ratio of -21.08, a P/E/G ratio of 2.52 and a beta of 1.58. SL Green Realty Corporation has a 12 month low of $34.77 and a 12 month high of $66.29.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported ($0.38) earnings per share for the quarter, topping analysts' consensus estimates of ($0.59) by $0.21. The firm had revenue of $264.00 million for the quarter, compared to analyst estimates of $179.01 million. SL Green Realty had a negative return on equity of 4.37% and a negative net margin of 16.92%.SL Green Realty's quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 earnings per share. On average, equities analysts anticipate that SL Green Realty Corporation will post 5.44 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.6175 per share. This represents a $2.47 annualized dividend and a yield of 4.3%. The ex-dividend date was Tuesday, June 30th. SL Green Realty's dividend payout ratio is presently -90.48%.

SL Green Realty Company Profile

SL Green Realty Corp. NYSE: SLG is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City's largest office landlords, the company's portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.

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