Tidal Investments LLC Reduces Stock Position in SL Green Realty Corp. (NYSE:SLG)

Tidal Investments LLC lowered its stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 67.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in SL Green Realty by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust's stock valued at $735,594,000 after buying an additional 564,822 shares during the last quarter. Geode Capital Management LLC boosted its stake in SL Green Realty by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 1,751,709 shares of the real estate investment trust's stock valued at $119,001,000 after acquiring an additional 110,594 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in SL Green Realty by 3.0% in the fourth quarter. Nuveen Asset Management LLC now owns 1,636,907 shares of the real estate investment trust's stock valued at $111,179,000 after acquiring an additional 46,988 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in SL Green Realty by 30.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,493,208 shares of the real estate investment trust's stock valued at $101,419,000 after acquiring an additional 347,608 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in SL Green Realty by 79.9% in the fourth quarter. Northern Trust Corp now owns 1,429,636 shares of the real estate investment trust's stock valued at $97,101,000 after acquiring an additional 634,788 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

SL Green Realty Stock Performance

NYSE:SLG traded up $0.55 during mid-day trading on Monday, reaching $57.32. The stock had a trading volume of 552,205 shares, compared to its average volume of 840,506. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 716.44, a PEG ratio of 5.30 and a beta of 1.59. SL Green Realty Corp. has a twelve month low of $45.15 and a twelve month high of $82.81. The business has a 50 day simple moving average of $54.61 and a 200 day simple moving average of $62.75.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.13. The firm had revenue of $144.52 million during the quarter, compared to the consensus estimate of $158.44 million. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. On average, analysts expect that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $0.2575 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.03 dividend on an annualized basis and a yield of 1.80%. SL Green Realty's payout ratio is currently -735.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Morgan Stanley upped their price objective on shares of SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 12th. Jefferies Financial Group assumed coverage on shares of SL Green Realty in a research note on Monday, March 17th. They issued a "hold" rating and a $58.00 price objective for the company. Wall Street Zen downgraded shares of SL Green Realty from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Evercore ISI upgraded shares of SL Green Realty from an "in-line" rating to an "outperform" rating and decreased their price objective for the company from $74.00 to $73.00 in a research note on Monday, March 17th. Finally, Truist Financial decreased their price objective on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $66.33.

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.