Tower Research Capital LLC TRC Grows Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

Tower Research Capital LLC TRC lifted its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 238.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,213 shares of the real estate investment trust's stock after purchasing an additional 6,488 shares during the period. Tower Research Capital LLC TRC's holdings in SL Green Realty were worth $626,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SLG. Jones Financial Companies Lllp purchased a new stake in SL Green Realty in the 4th quarter worth approximately $39,000. Quadrant Capital Group LLC lifted its stake in SL Green Realty by 37.4% in the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock worth $52,000 after acquiring an additional 208 shares during the period. Versant Capital Management Inc boosted its holdings in SL Green Realty by 17.7% in the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock valued at $71,000 after acquiring an additional 157 shares in the last quarter. Summit Securities Group LLC purchased a new position in SL Green Realty during the 4th quarter valued at $88,000. Finally, FIL Ltd raised its holdings in SL Green Realty by 53.3% in the 4th quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust's stock worth $107,000 after purchasing an additional 550 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SLG shares. Bank of America cut their target price on shares of SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Barclays decreased their target price on SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Evercore ISI upgraded SL Green Realty from an "in-line" rating to an "outperform" rating and dropped their price target for the company from $74.00 to $73.00 in a research report on Monday, March 17th. Scotiabank reduced 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, Wells Fargo & Company dropped their target price on shares of SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating on the stock in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, SL Green Realty currently has a consensus rating of "Hold" and a consensus target price of $68.13.

SL Green Realty Price Performance

NYSE SLG opened at $54.37 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 679.63, a PEG ratio of 5.30 and a beta of 1.61. The stock has a 50-day moving average of $56.93 and a 200 day moving average of $66.28. 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 quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.13. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. The company had revenue of $144.52 million for the quarter, compared to the consensus estimate of $158.44 million. On average, sell-side analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be given a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Wednesday, April 30th. SL Green Realty's dividend payout ratio (DPR) is presently -735.71%.

About SL Green Realty

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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