International Assets Investment Management LLC Boosts Stake in SL Green Realty Corp. (NYSE:SLG)

International Assets Investment Management LLC lifted its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 6,861.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,618 shares of the real estate investment trust's stock after buying an additional 14,408 shares during the quarter. International Assets Investment Management LLC's holdings in SL Green Realty were worth $1,018,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Janney Montgomery Scott LLC lifted its position in shares of SL Green Realty by 12.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 124,978 shares of the real estate investment trust's stock worth $6,890,000 after purchasing an additional 13,412 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of SL Green Realty during the first quarter valued at $55,000. SG Americas Securities LLC raised its position in shares of SL Green Realty by 320.9% during the first quarter. SG Americas Securities LLC now owns 49,775 shares of the real estate investment trust's stock worth $2,744,000 after purchasing an additional 37,949 shares during the period. Illinois Municipal Retirement Fund raised its holdings in shares of SL Green Realty by 3.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 35,287 shares of the real estate investment trust's stock worth $1,945,000 after purchasing an additional 1,329 shares during the period. Finally, NorthRock Partners LLC bought a new position in shares of SL Green Realty in the first quarter worth approximately $382,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SLG shares. JPMorgan Chase & Co. upped their price objective on SL Green Realty from $44.00 to $51.00 and gave the stock an "underweight" rating in a research note on Tuesday, August 6th. Morgan Stanley raised their price objective on SL Green Realty from $47.00 to $50.00 and gave the company an "equal weight" rating in a report on Wednesday, October 9th. BMO Capital Markets restated an "outperform" rating and set a $87.00 price target (up from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. Piper Sandler reissued an "overweight" rating and set a $90.00 price objective (up previously from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Finally, Scotiabank raised their target price on SL Green Realty from $68.00 to $80.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $65.57.

SL Green Realty Stock Performance

Shares of SLG traded up $1.76 during trading hours on Tuesday, hitting $77.99. The company's stock had a trading volume of 584,906 shares, compared to its average volume of 973,776. The company has a market cap of $5.08 billion, a price-to-earnings ratio of -31.20, a PEG ratio of 1.96 and a beta of 1.82. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. SL Green Realty Corp. has a 52-week low of $29.26 and a 52-week high of $79.92. The business has a 50 day simple moving average of $70.60 and a two-hundred day simple moving average of $61.88.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of $1.21 by ($1.42). The business had revenue of $229.69 million during the quarter, compared to the consensus estimate 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 in the previous year, the business posted $1.27 EPS. On average, equities analysts expect that SL Green Realty Corp. will post 7.61 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Thursday, October 31st. SL Green Realty's dividend payout ratio is presently -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.