SL Green Realty Corp. (NYSE:SLG) Shares Purchased by Quest Partners LLC

Quest Partners LLC lifted its holdings in SL Green Realty Corp. (NYSE:SLG) by 350.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,691 shares of the real estate investment trust’s stock after acquiring an additional 2,094 shares during the quarter. Quest Partners LLC’s holdings in SL Green Realty were worth $187,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Metis Global Partners LLC increased its stake in shares of SL Green Realty by 31.3% in the third quarter. Metis Global Partners LLC now owns 6,674 shares of the real estate investment trust’s stock worth $465,000 after acquiring an additional 1,591 shares during the period. Victory Capital Management Inc. increased its stake in shares of SL Green Realty by 6.1% in the third quarter. Victory Capital Management Inc. now owns 23,900 shares of the real estate investment trust’s stock worth $1,664,000 after acquiring an additional 1,380 shares during the period. Venturi Wealth Management LLC increased 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 worth $26,000 after acquiring an additional 272 shares during the period. Van ECK Associates Corp increased its stake in shares of SL Green Realty by 10.4% in the third quarter. Van ECK Associates Corp now owns 30,788 shares of the real estate investment trust’s stock worth $2,327,000 after acquiring an additional 2,899 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in shares of 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 acquiring an additional 144 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Stock Performance

SLG opened at $78.85 on Thursday. 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 company has a market cap of $5.20 billion, a price-to-earnings ratio of -31.54, a PEG ratio of 2.08 and a beta of 1.82. SL Green Realty Corp. has a 52-week low of $33.64 and a 52-week high of $82.81. The firm’s fifty day simple moving average is $74.38 and its two-hundred day simple moving average is $64.83.

SL Green Realty (NYSE:SLG) last posted 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). The company 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 business earned $1.27 earnings per share. Equities analysts anticipate that SL Green Realty Corp. will post 7.61 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.25 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Friday, November 29th. SL Green Realty’s dividend payout ratio is currently -120.00%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. BMO Capital Markets reissued an “outperform” rating and set a $87.00 price target (up from $72.00) on shares of SL Green Realty in a report on Monday, October 21st. Morgan Stanley increased their price target on shares of SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Jefferies Financial Group increased their price target on shares of SL Green Realty from $70.00 to $72.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and set a $90.00 price target (up from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Finally, Wells Fargo & Company increased their price target on shares of SL Green Realty from $43.00 to $63.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. Three equities 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $66.00.

SL Green Realty 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.