Verition Fund Management LLC Has $618,000 Stock Position in SL Green Realty Corp. (NYSE:SLG)

Verition Fund Management LLC lessened its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 55.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,882 shares of the real estate investment trust's stock after selling 10,845 shares during the quarter. Verition Fund Management LLC's holdings in SL Green Realty were worth $618,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in SL Green Realty by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust's stock valued at $88,275,000 after acquiring an additional 97,653 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of SL Green Realty by 9.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust's stock valued at $56,350,000 after purchasing an additional 88,309 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of SL Green Realty by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 810,490 shares of the real estate investment trust's stock valued at $45,906,000 after purchasing an additional 14,167 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in SL Green Realty by 396.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,170 shares of the real estate investment trust's stock worth $31,058,000 after purchasing an additional 356,275 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in SL Green Realty by 8.2% during the second quarter. Federated Hermes Inc. now owns 433,896 shares of the real estate investment trust's stock worth $24,576,000 after buying an additional 32,985 shares during 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 $0.57 on Wednesday, reaching $73.58. 1,105,807 shares of the stock traded hands, compared to its average volume of 984,029. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of -29.43, a P/E/G ratio of 3.68 and a beta of 1.81. SL Green Realty Corp. has a 12 month low of $40.30 and a 12 month high of $82.81. The stock's 50-day moving average price is $75.36 and its 200-day moving average price is $66.42. 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 (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 (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 analyst estimates 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 quarter in the prior year, the company posted $1.27 EPS. Equities analysts forecast that SL Green Realty Corp. will post 7.59 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The business also recently disclosed 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 is a positive change from SL Green Realty's previous monthly dividend of $0.25. This represents a $3.09 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Tuesday, December 31st. SL Green Realty's dividend payout ratio is currently -123.60%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SLG shares. BMO Capital Markets reiterated an "outperform" rating and set a $87.00 price target (up previously from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. Jefferies Financial Group increased their price target on SL Green Realty from $70.00 to $72.00 and gave the company a "hold" rating in a report on Friday, November 22nd. Morgan Stanley boosted their price objective on shares of SL Green Realty from $47.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 9th. Scotiabank raised their target price on shares of SL Green Realty from $80.00 to $81.00 and gave the company a "sector perform" rating in a research note on Tuesday. Finally, Barclays boosted their target price on shares of SL Green Realty from $66.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $68.67.

SL Green Realty Company 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.