Summit Place Financial Advisors LLC Acquires 10,695 Shares of SL Green Realty Corporation (NYSE:SLG)

Summit Place Financial Advisors LLC boosted its stake in SL Green Realty Corporation (NYSE:SLG - Free Report) by 149.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,845 shares of the real estate investment trust's stock after purchasing an additional 10,695 shares during the quarter. Summit Place Financial Advisors LLC's holdings in SL Green Realty were worth $1,030,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Walleye Capital LLC acquired a new position in SL Green Realty during the fourth quarter worth about $857,000. Charles Schwab Investment Management Inc. raised its stake in SL Green Realty by 12.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust's stock worth $96,990,000 after acquiring an additional 159,870 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in SL Green Realty during the fourth quarter worth about $1,832,000. Thrivent Financial for Lutherans raised its stake in SL Green Realty by 13.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 57,780 shares of the real estate investment trust's stock worth $3,924,000 after acquiring an additional 6,882 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in SL Green Realty by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust's stock worth $735,594,000 after acquiring an additional 564,822 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Analyst Ratings Changes

SLG has been the subject of several research analyst reports. Wall Street Zen downgraded SL Green Realty from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Wells Fargo & Company lowered their target price on SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Jefferies Financial Group began coverage on SL Green Realty in a report on Monday, March 17th. They set a "hold" rating and a $58.00 price target on the stock. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. Finally, Evercore ISI upgraded SL Green Realty from an "in-line" rating to an "outperform" rating and reduced their price target for the stock from $74.00 to $73.00 in a report on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $66.33.

SL Green Realty Trading Down 0.8%

SLG stock traded down $0.48 during trading on Friday, hitting $61.83. The company had a trading volume of 687,346 shares, compared to its average volume of 875,865. The business has a 50-day moving average of $59.49 and a 200-day moving average of $60.53. SL Green Realty Corporation has a one year low of $45.15 and a one year high of $82.81. The stock has a market cap of $4.41 billion, a PE ratio of -147.20 and a beta of 1.65. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 0.99.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, beating the consensus estimate of $1.27 by $0.13. SL Green Realty had a negative return on equity of 0.98% and a negative net margin of 1.30%. The business had revenue of $144.52 million for the quarter, compared to analysts' expectations of $158.44 million. Research analysts predict that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 1.67%. The ex-dividend date is Monday, June 30th. SL Green Realty's 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.