Versant Capital Management Inc Purchases 157 Shares of SL Green Realty Corp. (NYSE:SLG)

Versant Capital Management Inc increased its holdings in SL Green Realty Corp. (NYSE:SLG) by 17.7% during the 4th quarter, Holdings Channel reports. The firm owned 1,044 shares of the real estate investment trust’s stock after buying an additional 157 shares during the period. Versant Capital Management Inc’s holdings in SL Green Realty were worth $71,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in SL Green Realty by 50.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock worth $202,777,000 after buying an additional 977,321 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 acquiring an additional 356,275 shares during the period. Point72 Asset Management L.P. bought a new stake in SL Green Realty in the third quarter valued at $18,811,000. Charles Schwab Investment Management Inc. increased its position in SL Green Realty by 8.3% during the 3rd 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 purchasing an additional 97,653 shares during the period. Finally, Lighthouse Investment Partners LLC raised its holdings in SL Green Realty by 150.0% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 150,000 shares of the real estate investment trust’s stock worth $8,496,000 after purchasing an additional 90,000 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Trading Down 0.4 %

Shares of NYSE SLG opened at $68.08 on Monday. The company has a market cap of $4.49 billion, a PE ratio of -27.23, a P/E/G ratio of 4.26 and a beta of 1.82. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58. The firm’s 50 day moving average price is $74.46 and its 200-day moving average price is $68.28. SL Green Realty Corp. has a 52-week low of $41.81 and a 52-week high of $82.81.

SL Green Realty (NYSE:SLG) last issued its 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). SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. The business had revenue of $229.69 million for the quarter, compared to analysts’ expectations of $136.66 million. During the same quarter in the prior year, the business posted $1.27 earnings per share. On average, equities research analysts expect that SL Green Realty Corp. will post 7.82 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The firm also recently announced 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 is a positive change from SL Green Realty’s previous monthly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.09 dividend on an annualized basis and a yield of 4.54%. SL Green Realty’s payout ratio is -123.60%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SLG. Evercore ISI lifted their target price on shares of SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Barclays upped their target price on SL Green Realty from $66.00 to $78.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Morgan Stanley raised their target price on SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Scotiabank upped their price target on SL Green Realty from $80.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler restated an “overweight” rating and set a $90.00 target price (up previously from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $68.47.

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.