Point72 Asia Singapore Pte. Ltd. Sells 5,084 Shares of SL Green Realty Corp. (NYSE:SLG)

Point72 Asia Singapore Pte. Ltd. lowered its holdings in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 78.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,392 shares of the real estate investment trust's stock after selling 5,084 shares during the quarter. Point72 Asia Singapore Pte. Ltd.'s holdings in SL Green Realty were worth $95,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC raised its stake in shares of SL Green Realty by 304.8% in the 3rd quarter. Barclays PLC now owns 110,866 shares of the real estate investment trust's stock valued at $7,718,000 after acquiring an additional 83,478 shares in the last quarter. Franklin Resources Inc. acquired a new position in SL Green Realty during the third quarter valued at approximately $621,000. HB Wealth Management LLC bought a new position in shares of SL Green Realty in the fourth quarter valued at approximately $304,000. Janney Montgomery Scott LLC lifted its stake in shares of SL Green Realty by 23.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 65,933 shares of the real estate investment trust's stock worth $4,478,000 after buying an additional 12,424 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC lifted its stake in shares of SL Green Realty by 1.8% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 102,317 shares of the real estate investment trust's stock worth $6,949,000 after buying an additional 1,764 shares during the last quarter. Institutional investors own 89.96% of the company's stock.

SL Green Realty Stock Performance

Shares of SLG stock traded down $0.09 during mid-day trading on Friday, reaching $55.14. The stock had a trading volume of 108,445 shares, compared to its average volume of 837,254. SL Green Realty Corp. has a one year low of $45.15 and a one year high of $82.81. The firm has a market cap of $3.93 billion, a PE ratio of 690.44, a P/E/G ratio of 5.30 and a beta of 1.59. The firm's 50 day simple moving average is $54.82 and its 200 day simple moving average is $63.89. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.13. The business had revenue of $144.52 million during the quarter, compared to analyst estimates of $158.44 million. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. On average, analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Friday, May 30th. SL Green Realty's dividend payout ratio is -735.71%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SLG shares. Wells Fargo & Company lowered their target price on shares of SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Monday. Morgan Stanley raised their price target on SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 12th. Bank of America dropped their price objective on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Barclays decreased their target price on SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Finally, Piper Sandler dropped their price target on SL Green Realty from $90.00 to $72.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $66.33.

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.