Intech Investment Management LLC Purchases Shares of 18,873 SL Green Realty Corp. (NYSE:SLG)

Intech Investment Management LLC purchased a new position in SL Green Realty Corp. (NYSE:SLG - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,873 shares of the real estate investment trust's stock, valued at approximately $1,314,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLG. Lighthouse Investment Partners LLC raised its holdings in shares of SL Green Realty by 150.0% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 150,000 shares of the real estate investment trust's stock worth $8,496,000 after buying an additional 90,000 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in SL Green Realty by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust's stock worth $56,350,000 after acquiring an additional 88,309 shares in the last quarter. Swedbank AB bought a new position in shares of SL Green Realty in the first quarter worth about $4,675,000. Waterfall Asset Management LLC acquired a new stake in shares of SL Green Realty in the 2nd quarter valued at approximately $3,172,000. Finally, Phocas Financial Corp. grew its holdings in shares of SL Green Realty by 52.5% during the 3rd quarter. Phocas Financial Corp. now owns 111,376 shares of the real estate investment trust's stock valued at $7,753,000 after purchasing an additional 38,349 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on SLG shares. Barclays raised their target price on shares of SL Green Realty from $66.00 to $78.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 22nd. Morgan Stanley boosted their price objective on SL Green Realty from $47.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 9th. Bank of America upped their target price on SL Green Realty from $59.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, August 22nd. Citigroup upgraded SL Green Realty from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $44.00 to $66.00 in a report on Friday, September 13th. Finally, Jefferies Financial Group upped their price objective on SL Green Realty from $70.00 to $72.00 and gave the company a "hold" rating in a research note on Friday, November 22nd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, SL Green Realty currently has a consensus rating of "Hold" and an average price target of $66.00.

SL Green Realty Stock Down 1.0 %

SL Green Realty stock opened at $78.17 on Wednesday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $5.15 billion, a PE ratio of -31.27, a PEG ratio of 2.10 and a beta of 1.82. The firm's fifty day moving average is $74.24 and its 200 day moving average is $64.73. SL Green Realty Corp. has a 12-month low of $32.78 and a 12-month high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.21 by ($1.42). The company had revenue of $229.69 million for the quarter, compared to the consensus estimate of $136.66 million. SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. During the same period last year, the company earned $1.27 EPS. As a group, sell-side analysts predict that SL Green Realty Corp. will post 7.6 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Friday, November 29th. SL Green Realty's payout ratio is -120.00%.

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.