SL Green Realty Corporation $SLG Shares Sold by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. reduced its stake in SL Green Realty Corporation by 3.5% during the first quarter, now holding approximately 2.02% of the company's stock, valued at $83.1 million.
• A number of hedge funds altered their positions in SL Green, with Summit Place Financial Advisors LLC notably increasing its holdings by 149.6%.
• SL Green Realty's recent earnings report showed a per-share earnings of $1.63, exceeding expectations, but the company reported a negative net margin of 2.21%.

Alyeska Investment Group L.P. lessened its stake in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) by 3.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,440,326 shares of the real estate investment trust's stock after selling 52,882 shares during the quarter. Alyeska Investment Group L.P. owned approximately 2.02% of SL Green Realty worth $83,107,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Mackenzie Financial Corp increased its holdings in SL Green Realty by 4.7% in the 1st quarter. Mackenzie Financial Corp now owns 5,324 shares of the real estate investment trust's stock worth $307,000 after buying an additional 240 shares in the last quarter. KLP Kapitalforvaltning AS boosted its position in SL Green Realty by 2.2% in the first quarter. KLP Kapitalforvaltning AS now owns 13,874 shares of the real estate investment trust's stock worth $804,000 after purchasing an additional 300 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of SL Green Realty by 1.3% during the 4th quarter. Two Sigma Advisers LP now owns 24,316 shares of the real estate investment trust's stock valued at $1,652,000 after buying an additional 301 shares in the last quarter. Xponance Inc. lifted its position in shares of SL Green Realty by 6.6% during the 1st quarter. Xponance Inc. now owns 5,745 shares of the real estate investment trust's stock valued at $331,000 after buying an additional 357 shares in the last quarter. Finally, M&T Bank Corp lifted its position in shares of SL Green Realty by 6.6% during the 1st quarter. M&T Bank Corp now owns 5,921 shares of the real estate investment trust's stock valued at $342,000 after buying an additional 366 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

SL Green Realty Price Performance

NYSE:SLG traded up $2.19 during trading hours on Friday, reaching $62.07. The stock had a trading volume of 1,175,402 shares, compared to its average volume of 779,001. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.72 and a current ratio of 2.72. SL Green Realty Corporation has a 52 week low of $45.15 and a 52 week high of $82.81. The company has a 50 day moving average price of $58.40 and a two-hundred day moving average price of $58.09. The stock has a market capitalization of $4.43 billion, a PE ratio of -114.94 and a beta of 1.74.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.26. The business had revenue of $147.54 million for the quarter, compared to the consensus estimate of $171.24 million. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%.The company's revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 EPS. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. As a group, sell-side analysts anticipate that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $0.2575 per share. The ex-dividend date is Friday, August 29th. This represents a yield of 543.0%. SL Green Realty's payout ratio is presently -572.22%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of SL Green Realty in a research report on Friday, May 23rd. JPMorgan Chase & Co. lowered their price objective on 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. Truist Financial lifted their target price on SL Green Realty from $54.00 to $58.00 and gave the company a "hold" rating in a research note on Friday, July 18th. Wall Street Zen downgraded SL Green Realty from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Finally, Evercore ISI decreased their target price on SL Green Realty from $74.00 to $73.00 and set an "outperform" rating on the stock in a research note on Monday, August 18th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $67.29.

Insider Transactions at SL Green Realty

In related news, Director Carol N. Brown sold 2,500 shares of the business's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $60.61, for a total transaction of $151,525.00. Following the completion of the transaction, the director owned 937 shares in the company, valued at $56,791.57. The trade was a 72.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.04% of the stock is currently owned by insiders.

SL Green Realty Company 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.