Barclays PLC Buys 83,478 Shares of SL Green Realty Corp. (NYSE:SLG)

Barclays PLC increased its stake in SL Green Realty Corp. (NYSE:SLG) by 304.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,866 shares of the real estate investment trust’s stock after buying an additional 83,478 shares during the period. Barclays PLC owned 0.17% of SL Green Realty worth $7,718,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. grew its position in shares of SL Green Realty by 40.1% during the 2nd quarter. Edgestream Partners L.P. now owns 122,880 shares of the real estate investment trust’s stock worth $6,960,000 after buying an additional 35,178 shares in the last quarter. Waterfall Asset Management LLC bought a new position in SL Green Realty during the 2nd quarter worth about $3,172,000. FMR LLC increased its position in SL Green Realty by 69.1% during the 3rd quarter. FMR LLC now owns 58,185 shares of the real estate investment trust’s stock valued at $4,050,000 after purchasing an additional 23,780 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of SL Green Realty by 13.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 127,899 shares of the real estate investment trust’s stock valued at $7,244,000 after purchasing an additional 14,871 shares in the last quarter. Finally, Citigroup Inc. lifted its position in shares of SL Green Realty by 54.6% in the 3rd quarter. Citigroup Inc. now owns 85,587 shares of the real estate investment trust’s stock worth $5,958,000 after purchasing an additional 30,220 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Stock Performance

Shares of NYSE SLG opened at $69.05 on Thursday. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of -27.62, a PEG ratio of 4.26 and a beta of 1.81. SL Green Realty Corp. has a 12 month low of $41.81 and a 12 month high of $82.81. The company has a 50 day simple moving average of $75.96 and a two-hundred day simple moving average of $67.20. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06.

SL Green Realty (NYSE:SLG) last posted 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 business had revenue of $229.69 million during 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 company posted $1.27 earnings per share. As a group, analysts predict that SL Green Realty Corp. will post 7.82 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 given a $0.2575 dividend. This represents a $3.09 annualized dividend and a yield of 4.48%. 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 currently -123.60%.

Analyst Ratings Changes

SLG has been the topic of several research reports. Wells Fargo & Company lifted 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. Compass Point boosted their price target on SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Citigroup raised SL Green Realty from a “sell” rating to a “neutral” rating and raised their price objective for the company from $44.00 to $66.00 in a research report on Friday, September 13th. 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 report on Tuesday, October 22nd. Finally, Evercore ISI raised their price target on shares of SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.