Kettle Hill Capital Management LLC Acquires New Holdings in SL Green Realty Corp. (NYSE:SLG)

Kettle Hill Capital Management LLC acquired a new position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 175,465 shares of the real estate investment trust's stock, valued at approximately $11,918,000. SL Green Realty accounts for about 2.6% of Kettle Hill Capital Management LLC's holdings, making the stock its 17th biggest holding. Kettle Hill Capital Management LLC owned 0.27% of SL Green Realty as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of SLG. Jones Financial Companies Lllp bought a new stake in shares of SL Green Realty during the fourth quarter worth $39,000. Quadrant Capital Group LLC lifted its position in shares of SL Green Realty by 37.4% during 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. Summit Securities Group LLC bought a new stake in shares of SL Green Realty during the fourth quarter worth $88,000. FIL Ltd lifted 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 purchasing an additional 550 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of SL Green Realty by 106.3% during the fourth quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock worth $116,000 after purchasing an additional 857 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on SL Green Realty in a research report on Monday, March 17th. They set a "hold" rating and a $58.00 target price for the company. Evercore ISI upgraded SL Green Realty from an "in-line" rating to an "outperform" rating and decreased their target price for the stock from $74.00 to $73.00 in a research report on Monday, March 17th. Bank of America lowered their price objective on shares of SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Barclays lowered their price objective on shares of SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Finally, Morgan Stanley upped their price objective on shares of SL Green Realty from $52.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $67.07.

SL Green Realty Price Performance

Shares of NYSE:SLG traded down $0.54 during midday trading on Wednesday, reaching $56.99. 784,512 shares of the company's stock traded hands, compared to its average volume of 840,930. The company has a fifty day simple moving average of $54.85 and a two-hundred day simple moving average of $64.67. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. The company has a market cap of $4.06 billion, a P/E ratio of 712.38, a PEG ratio of 5.30 and a beta of 1.59. 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 announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.13. The company had revenue of $144.52 million for the quarter, compared to analyst estimates of $158.44 million. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. Equities analysts predict that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be issued a $0.2575 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.03 annualized dividend and a yield of 1.81%. SL Green Realty's dividend payout ratio (DPR) is currently -735.71%.

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.