Stock Traders Purchase Large Volume of Call Options on SL Green Realty (NYSE:SLG)

SL Green Realty Corporation (NYSE:SLG - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock traders acquired 3,304 call options on the company. This represents an increase of 176% compared to the typical daily volume of 1,196 call options.

Institutional Trading of SL Green Realty

Institutional investors have recently made changes to their positions in the business. Walleye Capital LLC bought a new position in shares of SL Green Realty in the 4th quarter valued at about $857,000. Wolverine Asset Management LLC purchased a new position in shares of SL Green Realty in the 4th quarter worth approximately $337,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 worth $96,990,000 after purchasing an additional 159,870 shares during the period. BNP Paribas Financial Markets bought a new position in shares of SL Green Realty during the 4th quarter valued at approximately $1,832,000. Finally, Asset Management One Co. Ltd. raised its holdings in SL Green Realty by 10.4% during 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 buying an additional 9,753 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on SLG shares. Jefferies Financial Group initiated coverage on shares of SL Green Realty in a research note on Monday, March 17th. They issued a "hold" rating and a $58.00 target price on the stock. Morgan Stanley raised their price objective on shares of SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 12th. Barclays cut their price objective on SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Evercore ISI upgraded shares of SL Green Realty from an "in-line" rating to an "outperform" rating and reduced their price target for the company from $74.00 to $73.00 in a research report on Monday, March 17th. Finally, Scotiabank lowered their price objective on shares of SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $66.33.

SL Green Realty Stock Up 1.0%

Shares of SLG traded up $0.67 during trading hours on Wednesday, hitting $65.19. The company had a trading volume of 233,337 shares, compared to its average volume of 855,848. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of -155.21 and a beta of 1.66. The firm has a fifty day moving average price of $56.83 and a 200-day moving average price of $61.64. SL Green Realty has a 52-week low of $45.15 and a 52-week high of $82.81. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.85 and a current ratio of 2.85.

SL Green Realty (NYSE:SLG - Get Free Report) last announced 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. The company had revenue of $144.52 million during the quarter, compared to the consensus estimate of $158.44 million. SL Green Realty had a negative net margin of 1.30% and a negative return on equity of 0.98%. On average, equities research analysts forecast that SL Green Realty will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a $0.2575 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.58%. SL Green Realty's payout ratio is currently -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.

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