Quantbot Technologies LP Lowers Stock Position in SL Green Realty Corporation $SLG

Key Points

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Quantbot Technologies LP cut its holdings in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) by 17.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,055 shares of the real estate investment trust's stock after selling 16,988 shares during the period. Quantbot Technologies LP owned 0.11% of SL Green Realty worth $4,504,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SLG. Raymond James Financial Inc. purchased a new position in SL Green Realty in the 4th quarter valued at $1,275,000. Sterling Capital Management LLC grew its position in SL Green Realty by 909.4% in the 4th quarter. Sterling Capital Management LLC now owns 2,261 shares of the real estate investment trust's stock valued at $154,000 after buying an additional 2,037 shares during the last quarter. Barclays PLC grew its position in SL Green Realty by 13.2% in the 4th quarter. Barclays PLC now owns 125,478 shares of the real estate investment trust's stock valued at $8,522,000 after buying an additional 14,612 shares during the last quarter. Mariner LLC grew its position in SL Green Realty by 2.1% in the 4th quarter. Mariner LLC now owns 18,241 shares of the real estate investment trust's stock valued at $1,239,000 after buying an additional 379 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in SL Green Realty in the 4th quarter valued at $857,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SLG has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of SL Green Realty in a research report on Friday, May 23rd. Evercore ISI decreased their target price on shares of SL Green Realty from $74.00 to $73.00 and set an "outperform" rating on the stock in a research report on Monday. Wells Fargo & Company decreased 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 report on Monday, May 19th. Scotiabank upgraded shares of SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 target price on the stock in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. decreased their target price on shares of SL Green Realty from $70.00 to $69.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $67.29.

SL Green Realty Price Performance

SL Green Realty stock opened at $54.09 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 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.98. The firm's 50-day simple moving average is $60.28 and its 200 day simple moving average is $58.85. The firm has a market capitalization of $3.86 billion, a PE ratio of -100.16 and a beta of 1.69.

SL Green Realty (NYSE:SLG - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.26. The company had revenue of $147.54 million for the quarter, compared to analyst estimates of $171.24 million. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 EPS. On average, equities research analysts predict that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently announced a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.2575 dividend. SL Green Realty's dividend payout ratio (DPR) is -572.22%.

Insider Transactions at SL Green Realty

In other SL Green Realty news, Director Carol N. Brown sold 2,500 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $60.61, for a total value of $151,525.00. Following the transaction, the director directly owned 937 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.04% of the company's stock.

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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