Lighthouse Investment Partners LLC Reduces Stake in 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% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,556 shares of the real estate investment trust's stock after selling 14,444 shares during the period. Lighthouse Investment Partners LLC's holdings in SL Green Realty were worth $2,007,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLG. Barclays PLC boosted its stake in SL Green Realty by 304.8% during the third 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 last quarter. Franklin Resources Inc. acquired a new position in shares of SL Green Realty in the 3rd quarter valued at $621,000. HB Wealth Management LLC acquired a new position in shares of SL Green Realty in the 4th quarter valued at $304,000. Janney Montgomery Scott LLC lifted its stake in shares of SL Green Realty by 23.2% in the 4th 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 lifted its stake in shares of SL Green Realty by 1.8% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 102,317 shares of the real estate investment trust's stock valued at $6,949,000 after purchasing an additional 1,764 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%

NYSE SLG traded up $0.83 during trading hours on Friday, hitting $58.84. 814,120 shares of the company were exchanged, compared to its average volume of 840,460. The company has a 50 day moving average of $54.84 and a two-hundred day moving average of $64.32. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. SL Green Realty Corp. has a 52-week low of $45.15 and a 52-week high of $82.81. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 735.53, a PEG ratio of 5.30 and a beta of 1.59.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.13. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. The company had revenue of $144.52 million for the quarter, compared to the consensus estimate of $158.44 million. Equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were issued a dividend of $0.2575 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.03 annualized dividend and a yield of 1.75%. SL Green Realty's dividend payout ratio (DPR) is -735.71%.

Analysts Set New Price Targets

Several equities analysts have recently commented on SLG shares. Wells Fargo & Company decreased their price target on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Barclays decreased their price target on SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Piper Sandler decreased their price target on SL Green Realty from $90.00 to $72.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Scotiabank decreased their price target on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Finally, Truist Financial decreased their price target on SL Green Realty from $62.00 to $54.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $67.07.

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.