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

Tower Research Capital LLC TRC grew its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 238.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,213 shares of the real estate investment trust's stock after acquiring 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.

Other institutional investors also recently modified their holdings of the company. 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 currently owned by hedge funds and other institutional investors.

SL Green Realty Stock Up 3.4 %

Shares of SLG traded up $1.84 on Friday, hitting $55.36. 591,920 shares of the stock traded hands, compared to its average volume of 849,121. SL Green Realty Corp. has a one year low of $45.15 and a one year high of $82.81. The company has a market capitalization of $3.95 billion, a PE ratio of 692.00, a P/E/G ratio of 5.30 and a beta of 1.61. The business has a 50 day simple moving average of $55.89 and a 200 day simple moving average of $65.73. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89.

SL Green Realty (NYSE:SLG - Get Free Report) last posted 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 firm had revenue of $144.52 million during the quarter, compared to analysts' expectations of $158.44 million. As a group, equities analysts forecast that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Wednesday, April 30th. SL Green Realty's payout ratio is presently -735.71%.

Wall Street Analyst Weigh In

SLG has been the topic of a number of research reports. 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. Scotiabank decreased their target price on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a research report on Friday, February 28th. Truist Financial dropped their price target on SL Green Realty from $62.00 to $54.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Barclays reduced 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. Finally, Morgan Stanley raised their price objective 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. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, SL Green Realty has a consensus rating of "Hold" and a consensus price target of $67.07.

SL Green Realty 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.