Hudson Bay Capital Management LP Takes Position in SL Green Realty Corp. (NYSE:SLG)

Hudson Bay Capital Management LP acquired a new stake in SL Green Realty Corp. (NYSE:SLG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 267,070 shares of the real estate investment trust's stock, valued at approximately $18,139,000. Hudson Bay Capital Management LP owned 0.41% of SL Green Realty at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Walleye Capital LLC purchased a new position in shares of SL Green Realty during the 4th quarter valued at $857,000. Wolverine Asset Management LLC purchased a new position in SL Green Realty during the fourth quarter worth about $337,000. Charles Schwab Investment Management Inc. grew its position in SL Green Realty by 12.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust's stock worth $96,990,000 after buying an additional 159,870 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in SL Green Realty by 8.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust's stock worth $5,187,000 after acquiring an additional 6,158 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of SL Green Realty by 10.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust's stock valued at $6,870,000 after acquiring an additional 9,753 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Jefferies Financial Group began coverage on shares of SL Green Realty in a research report on Monday, March 17th. They issued a "hold" rating and a $58.00 price objective on the stock. Morgan Stanley raised 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 report on Wednesday, March 12th. Truist Financial cut their target price on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Piper Sandler lowered their price target on SL Green Realty from $90.00 to $72.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Finally, Bank of America cut their price objective on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $67.07.

SL Green Realty Stock Up 2.1 %

NYSE SLG opened at $56.61 on Friday. The business's 50-day moving average is $55.05 and its 200 day moving average is $64.99. The stock has a market capitalization of $4.04 billion, a PE ratio of 707.63, a PEG ratio of 5.30 and a beta of 1.59. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. SL Green Realty Corp. has a 1 year low of $45.15 and a 1 year high of $82.81.

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

SL Green Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Wednesday, April 30th. SL Green Realty's payout ratio is -735.71%.

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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