Kettle Hill Capital Management LLC Invests $11.92 Million in SL Green Realty Corp. (NYSE:SLG)

Kettle Hill Capital Management LLC bought a new position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 175,465 shares of the real estate investment trust's stock, valued at approximately $11,918,000. SL Green Realty makes up 2.6% of Kettle Hill Capital Management LLC's investment portfolio, making the stock its 17th largest holding. Kettle Hill Capital Management LLC owned about 0.27% of SL Green Realty at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Walleye Capital LLC bought a new stake in shares of SL Green Realty during the 4th quarter worth approximately $857,000. Wolverine Asset Management LLC bought a new position in SL Green Realty in the 4th quarter valued at approximately $337,000. Charles Schwab Investment Management Inc. lifted its stake in SL Green Realty by 12.6% in 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 purchasing an additional 159,870 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted 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 valued at $5,187,000 after purchasing an additional 6,158 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in 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 purchasing an additional 9,753 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

SL Green Realty Stock Up 1.4%

SLG traded up $0.83 during midday trading on Friday, hitting $58.84. The company had a trading volume of 814,117 shares, compared to its average volume of 839,194. SL Green Realty Corp. has a 52 week low of $45.15 and a 52 week high of $82.81. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 735.53, a PEG ratio of 5.30 and a beta of 1.59. The stock's 50 day moving average price is $54.81 and its 200 day moving average price is $64.54.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, beating 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 the consensus estimate of $158.44 million. On average, research analysts anticipate that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were given a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Wednesday, April 30th. SL Green Realty's payout ratio is presently -735.71%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of SL Green Realty in a research note on Monday, March 17th. They issued a "hold" rating and a $58.00 price objective for the company. Bank of America dropped 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. Evercore ISI upgraded shares of SL Green Realty from an "in-line" rating to an "outperform" rating and cut their price target for the stock from $74.00 to $73.00 in a report on Monday, March 17th. Truist Financial cut their price target on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Finally, Morgan Stanley lifted their price target on shares of SL Green Realty from $52.00 to $55.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average 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.