Universal Beteiligungs und Servicegesellschaft mbH Invests $947,000 in SL Green Realty Corporation (NYSE:SLG)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has invested approximately $947,000 in SL Green Realty Corporation, acquiring 16,408 shares of the real estate investment trust during the first quarter.
• Analyst ratings for SL Green Realty show a mixed outlook, with one sell rating, eleven hold ratings, and four buy ratings, leading to an average price target of $67.29.
• The company has recently declared a dividend of $0.2575 per share with an impressive yield of 510.0%, despite a negative payout ratio of -572.22%.

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,408 shares of the real estate investment trust's stock, valued at approximately $947,000.

Other institutional investors have also made changes to their positions in the company. Walleye Capital LLC acquired a new position in shares of SL Green Realty during the fourth quarter worth $857,000. Summit Place Financial Advisors LLC lifted its position in shares of SL Green Realty by 149.6% during the first quarter. Summit Place Financial Advisors LLC now owns 17,845 shares of the real estate investment trust's stock worth $1,030,000 after purchasing an additional 10,695 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in SL Green Realty by 6.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,741 shares of the real estate investment trust's stock valued at $389,000 after acquiring an additional 384 shares in the last quarter. KBC Group NV raised its holdings in SL Green Realty by 20.9% in the first quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust's stock valued at $193,000 after acquiring an additional 577 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in SL Green Realty by 1.8% in the first quarter. Principal Financial Group Inc. now owns 348,870 shares of the real estate investment trust's stock valued at $20,130,000 after acquiring an additional 6,112 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Truist Financial upped their price target on shares of SL Green Realty from $54.00 to $58.00 and gave the company a "hold" rating in a report on Friday, July 18th. Barclays cut their price target on shares of SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company cut their price target on shares of SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Wall Street Zen cut shares of SL Green Realty from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Finally, Scotiabank raised shares of SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 price target on the stock in a report on Friday, July 25th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $67.29.

SL Green Realty Stock Down 2.6%

SLG stock opened at $55.76 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.72 and a quick ratio of 2.85. SL Green Realty Corporation has a 1-year low of $45.15 and a 1-year high of $82.81. The firm has a fifty day moving average price of $61.38 and a two-hundred day moving average price of $59.82. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of -103.26 and a beta of 1.69.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, topping the consensus estimate of $1.37 by $0.26. The business had revenue of $147.54 million during the quarter, compared to analyst estimates of $171.24 million. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 earnings per share. Research analysts predict that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The company also recently declared a jul 25 dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be given a dividend of $0.2575 per share. The ex-dividend date is Thursday, July 31st. This represents a dividend yield of 510.0%. SL Green Realty's dividend payout ratio is currently -572.22%.

Insider Activity at SL Green Realty

In other news, Director Carol N. Brown sold 2,500 shares of the company's stock in a transaction dated Friday, July 18th. The shares were 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 approximately $56,791.57. This represents a 72.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.04% of the company's stock.

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.

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