Y Intercept Hong Kong Ltd Sells 6,664 Shares of SL Green Realty Corporation (NYSE:SLG)

Y Intercept Hong Kong Ltd decreased its stake in SL Green Realty Corporation (NYSE:SLG - Free Report) by 46.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,821 shares of the real estate investment trust's stock after selling 6,664 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in SL Green Realty were worth $451,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLG. Raymond James Financial Inc. acquired a new position in shares of SL Green Realty during the 4th quarter worth $1,275,000. American Century Companies Inc. increased its stake in shares of SL Green Realty by 28.9% during the 4th quarter. American Century Companies Inc. now owns 106,807 shares of the real estate investment trust's stock worth $7,254,000 after purchasing an additional 23,977 shares during the last quarter. Sei Investments Co. increased its stake in shares of SL Green Realty by 69.4% during the 4th quarter. Sei Investments Co. now owns 84,155 shares of the real estate investment trust's stock worth $5,716,000 after purchasing an additional 34,483 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of SL Green Realty during the 4th quarter worth $925,000. Finally, LPL Financial LLC increased its stake in shares of SL Green Realty by 4.7% during the 4th quarter. LPL Financial LLC now owns 18,613 shares of the real estate investment trust's stock worth $1,264,000 after purchasing an additional 844 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

SL Green Realty Trading Down 1.5%

NYSE:SLG traded down $0.85 during mid-day trading on Friday, hitting $56.40. 426,433 shares of the company's stock were exchanged, compared to its average volume of 929,101. The company has a 50 day simple moving average of $61.37 and a 200-day simple moving average of $59.87. The company has a current ratio of 2.72, a quick ratio of 2.85 and a debt-to-equity ratio of 0.98. SL Green Realty Corporation has a fifty-two week low of $45.15 and a fifty-two week high of $82.81. The firm has a market capitalization of $4.02 billion, a P/E ratio of -104.15 and a beta of 1.65.

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 for the quarter, beating the consensus estimate of $1.37 by $0.26. The company 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%. SL Green Realty's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 EPS. As a group, research analysts expect that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wells Fargo & Company dropped 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 research note on Monday, May 19th. Piper Sandler lowered their target price on shares of SL Green Realty from $90.00 to $72.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. lowered their target price on shares of 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. Wall Street Zen downgraded shares of SL Green Realty from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Finally, Truist Financial increased 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. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $67.29.

Insider Transactions at SL Green Realty

In other SL Green Realty news, Director Carol N. Brown sold 2,500 shares of SL Green Realty stock in a transaction on Friday, July 18th. The shares were sold at an average price of $60.61, for a total transaction of $151,525.00. Following the transaction, the director directly owned 937 shares of the company's stock, 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 the SEC website. Insiders own 5.04% of the company's stock.

SL Green Realty 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.