Tidal Investments LLC Sells 7,642 Shares of SL Green Realty Corp. (NYSE:SLG)

Tidal Investments LLC lessened its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 67.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,717 shares of the real estate investment trust's stock after selling 7,642 shares during the quarter. Tidal Investments LLC's holdings in SL Green Realty were worth $252,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of SL Green Realty by 304.8% in the third quarter. Barclays PLC now owns 110,866 shares of the real estate investment trust's stock worth $7,718,000 after acquiring an additional 83,478 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of SL Green Realty by 106.3% in the fourth quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock worth $116,000 after acquiring an additional 857 shares in the last quarter. KBC Group NV increased its holdings in shares of SL Green Realty by 49.5% in the fourth quarter. KBC Group NV now owns 2,763 shares of the real estate investment trust's stock worth $188,000 after acquiring an additional 915 shares in the last quarter. Caprock Group LLC bought a new stake in shares of SL Green Realty in the fourth quarter worth about $319,000. Finally, Custom Index Systems LLC bought a new stake in shares of SL Green Realty in the fourth quarter worth about $205,000. Institutional investors own 89.96% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SLG shares. Scotiabank decreased their price objective on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. Truist Financial decreased their price objective on SL Green Realty from $62.00 to $54.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Piper Sandler decreased their price objective on SL Green Realty from $90.00 to $72.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, Wall Street Zen downgraded SL Green Realty from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, SL Green Realty has an average rating of "Hold" and an average price target of $66.33.

SL Green Realty Stock Performance

Shares of SLG traded up $0.88 during mid-day trading on Wednesday, reaching $60.88. The company's stock had a trading volume of 821,465 shares, compared to its average volume of 843,713. SL Green Realty Corp. has a 1-year low of $45.15 and a 1-year high of $82.81. The stock has a market cap of $4.34 billion, a P/E ratio of 761.00, a PEG ratio of 5.30 and a beta of 1.59. The business has a 50-day simple moving average of $54.68 and a two-hundred day simple moving average of $62.59. 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 released its quarterly earnings data 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. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. The company had revenue of $144.52 million during the quarter, compared to analysts' expectations of $158.44 million. As a group, equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid 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 1.69%. SL Green Realty's dividend payout ratio (DPR) is currently -735.71%.

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.