Quantinno Capital Management LP Sells 8,555 Shares of SL Green Realty Corp. (NYSE:SLG)

Quantinno Capital Management LP cut its stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 10.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,218 shares of the real estate investment trust's stock after selling 8,555 shares during the quarter. Quantinno Capital Management LP owned 0.11% of SL Green Realty worth $4,837,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Jones Financial Companies Lllp bought a new stake in SL Green Realty during the fourth quarter worth $39,000. Quadrant Capital Group LLC increased its position in SL Green Realty by 37.4% during the 4th 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 during the period. Summit Securities Group LLC purchased a new stake in shares of SL Green Realty in the 4th quarter worth about $88,000. FIL Ltd increased its stake 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 valued at $107,000 after purchasing an additional 550 shares in the last quarter. Finally, Blue Trust Inc. raised 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 worth $116,000 after buying an additional 857 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Wall Street Analysts Forecast Growth

SLG has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price objective 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. Bank of America reduced their price objective on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Truist Financial decreased their target price on SL Green Realty from $62.00 to $54.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Jefferies Financial Group started coverage on shares of SL Green Realty in a research note on Monday, March 17th. They set a "hold" rating and a $58.00 target price for the company. Finally, Morgan Stanley lifted their price target on shares of SL Green Realty from $52.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $66.33.

SL Green Realty Price Performance

Shares of SL Green Realty stock traded down $0.16 during mid-day trading on Tuesday, reaching $58.27. 420,160 shares of the stock traded hands, compared to its average volume of 839,060. The stock has a market capitalization of $4.16 billion, a PE ratio of 728.38, a PEG ratio of 5.30 and a beta of 1.59. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average of $54.85 and a 200 day moving average of $64.13. SL Green Realty Corp. has a fifty-two week low of $45.15 and a fifty-two week high of $82.81.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.13. The business had revenue of $144.52 million for 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 predict that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.2575 per share. The ex-dividend date is Friday, May 30th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.77%. SL Green Realty's dividend payout ratio (DPR) is presently -735.71%.

About SL Green Realty

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.