Lighthouse Investment Partners LLC Sells 14,444 Shares of SL Green Realty Corp. (NYSE:SLG)

Lighthouse Investment Partners LLC lowered its stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 32.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,556 shares of the real estate investment trust's stock after selling 14,444 shares during the quarter. Lighthouse Investment Partners LLC's holdings in SL Green Realty were worth $2,007,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLG. Barclays PLC boosted its holdings in shares of SL Green Realty by 304.8% during the 3rd quarter. Barclays PLC now owns 110,866 shares of the real estate investment trust's stock worth $7,718,000 after buying an additional 83,478 shares during the period. Franklin Resources Inc. acquired a new position in SL Green Realty during the 3rd quarter worth $621,000. HB Wealth Management LLC bought a new stake in SL Green Realty during the fourth quarter valued at about $304,000. Janney Montgomery Scott LLC grew its position in shares of SL Green Realty by 23.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 65,933 shares of the real estate investment trust's stock valued at $4,478,000 after purchasing an additional 12,424 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC increased its stake in shares of SL Green Realty by 1.8% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 102,317 shares of the real estate investment trust's stock worth $6,949,000 after purchasing an additional 1,764 shares during the period. Institutional investors and hedge funds own 89.96% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating for the company in a research note on Monday. Scotiabank reduced their price objective on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a research report on Friday, February 28th. Jefferies Financial Group started coverage on shares of SL Green Realty in a research report on Monday, March 17th. They set a "hold" rating and a $58.00 target price on the stock. Bank of America cut their target price 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. Finally, Truist Financial decreased 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 research report on Wednesday, April 23rd. Two investment 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $66.33.

SL Green Realty Price Performance

SLG traded down $0.43 during midday trading on Monday, reaching $58.39. 89,931 shares of the company's stock were exchanged, compared to its average volume of 837,821. 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 business has a 50-day simple moving average of $54.84 and a two-hundred day simple moving average of $64.24. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 725.30, a price-to-earnings-growth ratio of 5.30 and a beta of 1.59. SL Green Realty Corp. has a one year low of $45.15 and a one year high of $82.81.

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 analysts' consensus estimates of $1.27 by $0.13. The business had revenue of $144.52 million during 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%. As a group, research analysts predict that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 1.76%. SL Green Realty's payout ratio is -735.71%.

SL Green Realty Company 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.