Edgestream Partners L.P. Lowers Stake in SL Green Realty Corp. (NYSE:SLG)

Edgestream Partners L.P. decreased its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 66.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,620 shares of the real estate investment trust's stock after selling 81,260 shares during the period. Edgestream Partners L.P. owned approximately 0.06% of SL Green Realty worth $2,897,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Venturi Wealth Management LLC grew its stake in SL Green Realty by 272.0% in the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 272 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in SL Green Realty during the second quarter valued at $29,000. Friedenthal Financial purchased a new position in shares of SL Green Realty during the 3rd quarter valued at approximately $49,000. Rothschild Investment LLC purchased a new stake in SL Green Realty during the 2nd quarter worth approximately $55,000. Finally, Blue Trust Inc. raised its position in shares of SL Green Realty by 363.2% in the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust's stock valued at $56,000 after buying an additional 632 shares during the last quarter. Institutional investors own 89.96% of the company's stock.

Wall Street Analyst Weigh In

SLG has been the subject of a number of analyst reports. Piper Sandler reissued an "overweight" rating and issued a $90.00 price objective (up previously from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Bank of America increased their price objective on shares of SL Green Realty from $59.00 to $62.00 and gave the stock a "neutral" rating in a research report on Thursday, August 22nd. Barclays lifted their price objective on SL Green Realty from $66.00 to $78.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 22nd. Morgan Stanley increased their price objective on SL Green Realty from $47.00 to $50.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of SL Green Realty from $44.00 to $51.00 and gave the stock an "underweight" rating in a report on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $66.00.

SL Green Realty Stock Performance

SLG traded down $2.47 during trading on Monday, hitting $75.72. 1,063,179 shares of the stock were exchanged, compared to its average volume of 981,770. The stock has a fifty day moving average price of $74.71 and a two-hundred day moving average price of $65.41. SL Green Realty Corp. has a 1-year low of $39.66 and a 1-year high of $82.81. The firm has a market capitalization of $4.99 billion, a P/E ratio of -30.29, a PEG ratio of 3.82 and a beta of 1.82. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings results 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). SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. The firm had revenue of $229.69 million for the quarter, compared to analyst estimates of $136.66 million. During the same quarter last year, the firm earned $1.27 earnings per share. As a group, sell-side analysts predict that SL Green Realty Corp. will post 7.61 earnings per share for the current year.

SL Green Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 29th. This represents a $3.00 dividend on an annualized basis and a yield of 3.96%. SL Green Realty's payout ratio is -120.00%.

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.