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

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp acquired a new stake in SL Green Realty in the 4th quarter valued at about $39,000. Quadrant Capital Group LLC increased its holdings in shares of SL Green Realty by 37.4% in the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 208 shares in the last quarter. Summit Securities Group LLC bought a new position in SL Green Realty in the 4th quarter worth approximately $88,000. FIL Ltd lifted its holdings in 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 buying an additional 550 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in SL Green Realty by 106.3% in the 4th quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock valued at $116,000 after buying an additional 857 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SLG shares. Piper Sandler cut their price target on SL Green Realty from $90.00 to $72.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Scotiabank dropped their price objective on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Jefferies Financial Group began coverage on SL Green Realty in a research report on Monday, March 17th. They set a "hold" rating and a $58.00 target price for the company. Evercore ISI upgraded shares of SL Green Realty from an "in-line" rating to an "outperform" rating and cut their price target for the company from $74.00 to $73.00 in a research report on Monday, March 17th. Finally, Truist Financial lowered their target price on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $66.33.

SL Green Realty Price Performance

Shares of SLG traded down $2.75 during mid-day trading on Wednesday, reaching $55.53. 756,667 shares of the stock traded hands, compared to its average volume of 840,147. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. SL Green Realty Corp. has a 1 year low of $45.15 and a 1 year high of $82.81. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 694.09, a price-to-earnings-growth ratio of 5.30 and a beta of 1.59. The firm has a fifty day moving average price of $54.91 and a 200 day moving average price of $64.09.

SL Green Realty (NYSE:SLG - Get Free Report) last released 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. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. The business had revenue of $144.52 million for the quarter, compared to analysts' expectations of $158.44 million. As a group, equities research analysts predict that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Friday, May 30th. SL Green Realty's dividend payout ratio is presently -735.71%.

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.