Quadrature Capital Ltd Invests $828,000 in SL Green Realty Corp. (NYSE:SLG)

Quadrature Capital Ltd purchased a new stake in SL Green Realty Corp. (NYSE:SLG - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,904 shares of the real estate investment trust's stock, valued at approximately $828,000.

Several other hedge funds have also bought and sold shares of SLG. Venturi Wealth Management LLC lifted its stake in shares of SL Green Realty by 272.0% in the 3rd 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 period. Allspring Global Investments Holdings LLC acquired a new stake in shares of SL Green Realty during the 2nd quarter valued at about $29,000. Point72 DIFC Ltd purchased a new position in shares of SL Green Realty in the 3rd quarter valued at about $35,000. Friedenthal Financial acquired a new position in SL Green Realty in the 3rd quarter worth about $49,000. Finally, Rothschild Investment LLC purchased a new position in SL Green Realty during the second quarter worth approximately $55,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

SL Green Realty Trading Up 2.0 %

SLG stock traded up $1.50 during trading on Friday, reaching $75.16. 757,097 shares of the stock were exchanged, compared to its average volume of 1,009,523. The business has a 50 day moving average price of $75.04 and a 200-day moving average price of $65.92. SL Green Realty Corp. has a 1 year low of $40.30 and a 1 year high of $82.81. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of -30.06, a P/E/G ratio of 3.64 and a beta of 1.81.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing the consensus estimate of $1.21 by ($1.42). The firm 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 in the previous year, the firm posted $1.27 EPS. On average, research analysts predict that SL Green Realty Corp. will post 7.59 earnings per share for the current year.

SL Green Realty Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.2575 dividend. This represents a $3.09 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from SL Green Realty's previous monthly dividend of $0.25. SL Green Realty's dividend payout ratio is -123.60%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. 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 research report on Thursday, August 22nd. Morgan Stanley increased their price objective on shares of SL Green Realty from $47.00 to $50.00 and gave the company an "equal weight" rating in a report on Wednesday, October 9th. 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. Citigroup raised shares of SL Green Realty from a "sell" rating to a "neutral" rating and raised their price target for the company from $44.00 to $66.00 in a research note on Friday, September 13th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $87.00 price objective (up from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target 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.