Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment 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 stake in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,408 shares of the real estate investment trust's stock, valued at approximately $947,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLG. Norges Bank bought a new stake in SL Green Realty in the fourth quarter worth $48,050,000. Northern Trust Corp lifted its holdings in shares of SL Green Realty by 79.9% during the fourth quarter. Northern Trust Corp now owns 1,429,636 shares of the real estate investment trust's stock worth $97,101,000 after purchasing an additional 634,788 shares during the period. Balyasny Asset Management L.P. acquired a new position in SL Green Realty in the fourth quarter valued at approximately $29,000,000. Alyeska Investment Group L.P. lifted its holdings 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 during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of SL Green Realty in the fourth quarter valued at approximately $18,139,000. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Stock Performance

SL Green Realty stock traded down $0.01 during mid-day trading on Wednesday, reaching $55.46. 369,667 shares of the company were exchanged, compared to its average volume of 931,325. SL Green Realty Corporation has a twelve month low of $45.15 and a twelve month high of $82.81. The firm's 50-day simple moving average is $61.36 and its two-hundred day simple moving average is $59.65. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.85 and a current ratio of 2.72. The firm has a market cap of $3.95 billion, a PE ratio of -102.69 and a beta of 1.69.

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

SL Green Realty Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SLG shares. Truist Financial boosted their price objective on SL Green Realty from $54.00 to $58.00 and gave the company a "hold" rating in a research report on Friday, July 18th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of SL Green Realty in a research note on Friday, May 23rd. JPMorgan Chase & Co. decreased their price target on SL Green Realty from $70.00 to $69.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Wells Fargo & Company decreased their price target on SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Finally, Scotiabank raised 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 research note on Friday, July 25th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, SL Green Realty presently has a consensus rating of "Hold" and an average price target of $67.29.

Insider Activity at SL Green Realty

In related news, Director Carol N. Brown sold 2,500 shares of SL Green Realty 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 directly owned 937 shares of the company's stock, valued at approximately $56,791.57. The trade was a 72.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 5.04% of the stock is owned by corporate insiders.

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.