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

Y Intercept Hong Kong Ltd lowered its position in SL Green Realty Corporation (NYSE:SLG - Free Report) by 46.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,821 shares of the real estate investment trust's stock after selling 6,664 shares during the period. Y Intercept Hong Kong Ltd's holdings in SL Green Realty were worth $451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its stake in SL Green Realty by 37.4% in the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 208 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in SL Green Realty in the fourth quarter worth about $75,000. GF Fund Management CO. LTD. purchased a new position in shares of SL Green Realty during the fourth quarter worth approximately $80,000. Summit Securities Group LLC purchased a new position in shares of SL Green Realty during the fourth quarter worth approximately $88,000. Finally, FIL Ltd increased its position in shares of SL Green Realty by 53.3% during the fourth quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust's stock worth $107,000 after acquiring an additional 550 shares during the period. Institutional investors own 89.96% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SLG shares. JPMorgan Chase & Co. reduced 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 report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. Scotiabank raised shares of SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 price objective on the stock in a report on Friday. Wells Fargo & Company cut their price objective 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. Finally, Truist Financial lifted their price objective 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. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, SL Green Realty currently has an average rating of "Hold" and an average price target of $65.60.

Insider Activity at SL Green Realty

In other 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 completion of the sale, the director directly owned 937 shares in the company, valued at approximately $56,791.57. The trade was a 72.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.04% of the company's stock.

SL Green Realty Price Performance

Shares of SLG opened at $58.56 on Tuesday. SL Green Realty Corporation has a twelve month low of $45.15 and a twelve month high of $82.81. The company has a 50 day moving average of $61.27 and a two-hundred day moving average of $59.93. The company has a quick ratio of 2.85, a current ratio of 2.72 and a debt-to-equity ratio of 0.98. The company has a market cap of $4.18 billion, a price-to-earnings ratio of -108.44 and a beta of 1.65.

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 EPS for the quarter, topping the consensus estimate of $1.37 by $0.26. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The business had revenue of $147.54 million during the quarter, compared to the consensus estimate of $171.24 million. During the same period in the previous year, the firm posted $2.05 earnings per share. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, 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 business also recently disclosed a jul 25 dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be paid a dividend of $0.2575 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a dividend yield of 5.1%. SL Green Realty's payout ratio is currently -572.22%.

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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