Jump Financial LLC Acquires Shares of 7,393 SL Green Realty Corp. (NYSE:SLG)

Jump Financial LLC purchased a new stake in SL Green Realty Corp. (NYSE:SLG - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 7,393 shares of the real estate investment trust's stock, valued at approximately $502,000.

Several other hedge funds have also bought and sold shares of SLG. Norges Bank bought a new position in shares of SL Green Realty in the 4th quarter valued at about $48,050,000. Vanguard Group Inc. boosted its holdings in shares of SL Green Realty by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust's stock worth $735,594,000 after purchasing an additional 564,822 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in SL Green Realty by 12.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust's stock valued at $96,990,000 after buying an additional 159,870 shares during the period. Proficio Capital Partners LLC bought a new stake in SL Green Realty in the fourth quarter worth $7,705,000. Finally, Geode Capital Management LLC increased its position in SL Green Realty by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 1,751,709 shares of the real estate investment trust's stock valued at $119,001,000 after acquiring an additional 110,594 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

SL Green Realty Stock Performance

SLG stock traded down $0.43 during trading on Wednesday, reaching $52.55. The company had a trading volume of 1,054,424 shares, compared to its average volume of 851,216. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. SL Green Realty Corp. has a twelve month low of $45.15 and a twelve month high of $82.81. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 656.88, a price-to-earnings-growth ratio of 5.30 and a beta of 1.61. The firm has a 50-day simple moving average of $56.26 and a 200-day simple moving average of $66.00.

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

SL Green Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be issued a dividend of $0.2575 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.03 annualized dividend and a dividend yield of 1.96%. SL Green Realty's dividend payout ratio (DPR) is presently -735.71%.

Analysts Set New Price Targets

Several brokerages have issued reports on SLG. Wells Fargo & Company dropped their target price on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. Jefferies Financial Group assumed coverage on SL Green Realty in a research note on Monday, March 17th. They issued a "hold" rating and a $58.00 target price on the stock. Evercore ISI raised shares of SL Green Realty from an "in-line" rating to an "outperform" rating and lowered their target price for the company from $74.00 to $73.00 in a research note on Monday, March 17th. Mizuho raised their price target on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Finally, Truist Financial lowered their price objective 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. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $67.07.

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.