Jump Financial LLC Invests $2.81 Million in SL Green Realty Corp. (NYSE:SLG)

Jump Financial LLC bought a new stake in SL Green Realty Corp. (NYSE:SLG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 62,162 shares of the real estate investment trust's stock, valued at approximately $2,808,000. Jump Financial LLC owned approximately 0.10% of SL Green Realty at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SLG. Private Trust Co. NA acquired a new position in shares of SL Green Realty during the 4th quarter valued at about $33,000. Financial Gravity Asset Management Inc. raised its position in shares of SL Green Realty by 3,073.3% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 922 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in SL Green Realty in the third quarter valued at approximately $88,000. Allspring Global Investments Holdings LLC grew its position in SL Green Realty by 122.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the real estate investment trust's stock worth $102,000 after acquiring an additional 1,502 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in SL Green Realty by 9.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust's stock worth $117,000 after acquiring an additional 227 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Stock Performance

Shares of SLG stock traded up $0.75 during midday trading on Monday, hitting $53.00. The company had a trading volume of 2,182,793 shares, compared to its average volume of 1,256,561. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.96. The company's 50 day simple moving average is $51.47 and its 200 day simple moving average is $45.06. SL Green Realty Corp. has a 52-week low of $20.51 and a 52-week high of $55.75. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of -6.42, a PEG ratio of 1.41 and a beta of 1.72.

SL Green Realty Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, April 29th. This represents a $3.00 annualized dividend and a yield of 5.66%. SL Green Realty's dividend payout ratio is currently -36.32%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SLG shares. Truist Financial lowered shares of SL Green Realty from a "buy" rating to a "hold" rating and increased their target price for the stock from $44.00 to $47.00 in a research note on Tuesday, January 16th. Evercore ISI lifted their price objective on SL Green Realty from $46.00 to $47.00 and gave the company an "underperform" rating in a research note on Monday, April 22nd. Barclays raised SL Green Realty from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $35.00 to $48.00 in a research note on Wednesday, March 27th. StockNews.com raised shares of SL Green Realty to a "sell" rating in a research report on Wednesday, May 8th. Finally, Morgan Stanley lifted their price objective on shares of SL Green Realty from $41.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, March 28th. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $47.00.

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.