SL Green Realty Target of Unusually Large Options Trading (NYSE:SLG)

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

SL Green Realty Price Performance

Shares of SLG stock traded down $0.31 during trading hours on Friday, hitting $64.44. The stock had a trading volume of 1,104,631 shares, compared to its average volume of 849,424. SL Green Realty has a one year low of $45.15 and a one year high of $82.81. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.85 and a quick ratio of 2.85. The stock's 50-day moving average price is $57.69 and its two-hundred day moving average price is $61.52. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of -153.43 and a beta of 1.66.

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 the consensus estimate of $1.27 by $0.13. SL Green Realty had a negative return on equity of 0.98% and a negative net margin of 1.30%. The firm had revenue of $144.52 million for the quarter, compared to analysts' expectations of $158.44 million. Equities analysts forecast that SL Green Realty 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 Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.2575 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.03 annualized dividend and a dividend yield of 1.60%. SL Green Realty's dividend payout ratio (DPR) is -735.71%.

Analysts Set New Price Targets

Several research firms recently weighed in on SLG. Barclays lowered their target price on SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company lowered their target price on SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Jefferies Financial Group began coverage on 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. Morgan Stanley lifted their target price on 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. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of SL Green Realty in a research report on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $66.33.

Institutional Investors Weigh In On SL Green Realty

Large investors have recently made changes to their positions in the company. Walleye Capital LLC bought a new stake in shares of SL Green Realty in the fourth quarter worth about $857,000. Wolverine Asset Management LLC bought a new stake in SL Green Realty during the fourth quarter worth approximately $337,000. Charles Schwab Investment Management Inc. increased its stake in SL Green Realty by 12.6% during the fourth 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 acquiring an additional 159,870 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in SL Green Realty during the fourth quarter worth approximately $1,832,000. Finally, Asset Management One Co. Ltd. increased its stake in SL Green Realty by 10.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust's stock worth $6,870,000 after acquiring an additional 9,753 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

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.