18,873 Shares in SL Green Realty Corp. (NYSE:SLG) Purchased by Intech Investment Management LLC

Intech Investment Management LLC acquired a new stake in shares of SL Green Realty Corp. (NYSE:SLG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 18,873 shares of the real estate investment trust’s stock, valued at approximately $1,314,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of SLG. 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 buying an additional 272 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in SL Green Realty during the 2nd quarter worth $29,000. Friedenthal Financial bought a new stake in shares of SL Green Realty in the 3rd quarter worth about $49,000. Rothschild Investment LLC acquired a new stake in shares of SL Green Realty in the 2nd quarter valued at about $55,000. Finally, Blue Trust Inc. lifted its position in shares of SL Green Realty by 363.2% during the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 632 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Citigroup upgraded SL Green Realty from a “sell” rating to a “neutral” rating and upped their price objective for the company from $44.00 to $66.00 in a research note on Friday, September 13th. Evercore ISI upped their price target on SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. lifted their price objective on shares of SL Green Realty from $44.00 to $51.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Scotiabank increased 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 report on Friday, October 25th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $87.00 price target (up from $72.00) on shares of SL Green Realty in a report on Monday, October 21st. Three investment 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 data from MarketBeat.com, SL Green Realty currently has an average rating of “Hold” and a consensus target price of $66.00.

SL Green Realty Stock Performance

SLG stock opened at $78.17 on Wednesday. The company has a market capitalization of $5.15 billion, a P/E ratio of -31.27, a PEG ratio of 2.10 and a beta of 1.82. 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 50-day simple moving average of $74.24 and a 200 day simple moving average of $64.73. SL Green Realty Corp. has a fifty-two week low of $32.78 and a fifty-two week high of $82.81.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. The company had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. During the same period in the prior year, the company posted $1.27 earnings per share. Sell-side analysts predict that SL Green Realty Corp. will post 7.6 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Friday, November 29th. SL Green Realty’s dividend payout ratio is presently -120.00%.

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.