LMR Partners LLP Invests $365,000 in SL Green Realty Corp. (NYSE:SLG)

LMR Partners LLP acquired a new position in SL Green Realty Corp. (NYSE:SLG) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 5,242 shares of the real estate investment trust’s stock, valued at approximately $365,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rosenberg Matthew Hamilton lifted its position in SL Green Realty by 6.6% in the third quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 144 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in SL Green Realty by 4.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 148 shares during the period. Xponance Inc. lifted its position in SL Green Realty by 6.6% in the second quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 262 shares during the period. Venturi Wealth Management LLC lifted its position in 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 worth $26,000 after purchasing an additional 272 shares during the period. Finally, Vert Asset Management LLC lifted its holdings in shares of SL Green Realty by 1.5% during the third quarter. Vert Asset Management LLC now owns 26,909 shares of the real estate investment trust’s stock valued at $1,873,000 after acquiring an additional 394 shares during the period. 89.96% of the stock is owned by institutional investors.

SL Green Realty Price Performance

Shares of SLG stock opened at $77.77 on Thursday. The stock has a 50-day moving average price of $73.26 and a 200 day moving average price of $63.78. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of -31.11, a PEG ratio of 2.00 and a beta of 1.82. SL Green Realty Corp. has a 12 month low of $32.78 and a 12 month high of $82.81.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data 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 firm had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. During the same quarter in the previous year, the business earned $1.27 earnings per share. Research analysts expect that SL Green Realty Corp. will post 7.61 EPS for the current year.

SL Green Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.25 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.00 dividend on an annualized basis and a yield of 3.86%. SL Green Realty’s payout ratio is -120.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Morgan Stanley lifted 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. The Goldman Sachs Group lifted their price objective on SL Green Realty from $38.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Citigroup raised SL Green Realty from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $44.00 to $66.00 in a report on Friday, September 13th. Finally, Scotiabank lifted their price objective 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 research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $65.57.

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.