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

Quantinno Capital Management LP reduced its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,218 shares of the real estate investment trust's stock after selling 8,555 shares during the period. Quantinno Capital Management LP owned approximately 0.11% of SL Green Realty worth $4,837,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nissay Asset Management Corp Japan ADV grew its stake in shares of SL Green Realty by 12.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 10,010 shares of the real estate investment trust's stock worth $663,000 after purchasing an additional 1,072 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in SL Green Realty by 3.0% during the fourth quarter. Nuveen Asset Management LLC now owns 1,636,907 shares of the real estate investment trust's stock worth $111,179,000 after buying an additional 46,988 shares in the last quarter. Morse Asset Management Inc grew its position in SL Green Realty by 2.2% in the fourth quarter. Morse Asset Management Inc now owns 21,750 shares of the real estate investment trust's stock worth $1,477,000 after buying an additional 475 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of SL Green Realty by 78.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,881 shares of the real estate investment trust's stock valued at $4,339,000 after buying an additional 28,101 shares in the last quarter. Finally, Kettle Hill Capital Management LLC bought a new position in shares of SL Green Realty in the fourth quarter valued at $11,918,000. 89.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SLG has been the topic of a number of recent research reports. Scotiabank decreased their target price on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Barclays dropped their price target on SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group assumed coverage on shares of SL Green Realty in a research note on Monday, March 17th. They set a "hold" rating and a $58.00 price objective for the company. Wells Fargo & Company dropped 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. Finally, 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 report on Monday, March 17th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $66.33.

SL Green Realty Stock Down 0.2%

SLG stock traded down $0.09 during midday trading on Friday, reaching $55.14. The company had a trading volume of 108,445 shares, compared to its average volume of 837,246. The company has a 50 day moving average of $54.82 and a two-hundred day moving average of $63.89. The company has a market capitalization of $3.93 billion, a P/E ratio of 690.44, a PEG ratio of 5.30 and a beta of 1.59. SL Green Realty Corp. has a 1 year low of $45.15 and a 1 year high of $82.81. 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 (NYSE:SLG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.13. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. The business had revenue of $144.52 million for the quarter, compared to the consensus estimate of $158.44 million. On average, equities research analysts expect that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The company 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 annualized dividend and a dividend yield of 1.87%. SL Green Realty's dividend payout ratio is -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.