Harvest Fund Management Co. Ltd Purchases Shares of 8,871 SL Green Realty Corp. (NYSE:SLG)

Harvest Fund Management Co. Ltd bought a new stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,871 shares of the real estate investment trust's stock, valued at approximately $617,000.

Other large investors have also modified their holdings of the company. Venturi Wealth Management LLC raised its stake in shares of SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 272 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of SL Green Realty during the second quarter valued at approximately $29,000. Friedenthal Financial bought a new stake in shares of SL Green Realty during the third quarter valued at approximately $49,000. Rothschild Investment LLC bought a new stake in shares of SL Green Realty during the second quarter valued at approximately $55,000. Finally, Blue Trust Inc. raised its stake in shares of SL Green Realty by 363.2% during the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust's stock valued at $56,000 after acquiring an additional 632 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

SL Green Realty Stock Performance

Shares of SLG traded down $0.78 during trading hours on Tuesday, reaching $78.17. 2,734,638 shares of the company traded hands, compared to its average volume of 982,970. The stock has a market capitalization of $5.15 billion, a P/E ratio of -31.27, a P/E/G ratio of 2.10 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 Corp. has a 12-month low of $32.78 and a 12-month high of $82.81. The business has a fifty day moving average price of $74.24 and a 200-day moving average price of $64.73.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share 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 analysts' expectations of $136.66 million. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. During the same period last year, the firm earned $1.27 earnings per share. Equities analysts anticipate that SL Green Realty Corp. will post 7.6 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued 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 of this dividend is Friday, November 29th. SL Green Realty's dividend payout ratio (DPR) is presently -120.00%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SLG. The Goldman Sachs Group lifted their price target on shares of SL Green Realty from $38.00 to $42.00 and gave the company a "sell" rating in a research note on Wednesday, July 31st. Scotiabank boosted their price objective on shares of SL Green Realty from $68.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Friday, October 25th. 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 research note on Monday, October 21st. Wells Fargo & Company boosted their price objective on shares of SL Green Realty from $43.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 11th. Finally, Bank of America boosted 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 note on Thursday, August 22nd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $66.00.

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.