Point72 Asset Management L.P. bought a new stake in SL Green Realty Corp. (NYSE:SLG - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 270,238 shares of the real estate investment trust's stock, valued at approximately $18,811,000. Point72 Asset Management L.P. owned approximately 0.41% of SL Green Realty at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Venturi Wealth Management LLC raised its stake in shares of 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 acquiring an additional 272 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in SL Green Realty in the 2nd quarter valued at about $29,000. Friedenthal Financial acquired a new stake in SL Green Realty in the 3rd quarter valued at about $49,000. Rothschild Investment LLC purchased a new position in shares of SL Green Realty in the 2nd quarter valued at about $55,000. Finally, Blue Trust Inc. grew its position 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 worth $56,000 after buying an additional 632 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on SLG. Citigroup raised shares of SL Green Realty from a "sell" rating to a "neutral" rating and raised their target price for the company from $44.00 to $66.00 in a report on Friday, September 13th. Wells Fargo & Company raised their price objective on shares of SL Green Realty from $43.00 to $63.00 and gave the company an "equal weight" rating in a report on Wednesday, September 11th. Scotiabank boosted their target price 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. Bank of America increased their target price on SL Green Realty from $59.00 to $62.00 and gave the company a "neutral" rating in a report on Thursday, August 22nd. Finally, Compass Point set a $65.00 price target on SL Green Realty and gave the stock a "neutral" rating in a report on Friday, October 18th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $66.00.
Check Out Our Latest Stock Analysis on SLG
SL Green Realty Stock Performance
Shares of SLG traded up $1.50 during mid-day trading on Friday, reaching $75.16. 757,097 shares of the company's stock were exchanged, compared to its average volume of 1,009,523. The stock has a market capitalization of $4.96 billion, a PE ratio of -30.06, a price-to-earnings-growth ratio of 3.64 and a beta of 1.81. The business's fifty day simple moving average is $75.04 and its 200-day simple moving average is $65.83. 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 $40.30 and a 52-week high of $82.81.
SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $229.69 million for the quarter, compared to analysts' expectations of $136.66 million. During the same period in the previous year, the business posted $1.27 earnings per share. On average, equities research analysts expect that SL Green Realty Corp. will post 7.59 earnings per share for the current year.
SL Green Realty Increases Dividend
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.2575 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from SL Green Realty's previous monthly dividend of $0.25. This represents a $3.09 annualized dividend and a yield of 4.11%. SL Green Realty's dividend payout ratio is currently -120.00%.
About SL Green Realty
(
Free Report)
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.
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