GAMMA Investing LLC Acquires 203 Shares of SL Green Realty Corp. (NYSE:SLG)

GAMMA Investing LLC raised its holdings in SL Green Realty Corp. (NYSE:SLG) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,192 shares of the real estate investment trust’s stock after purchasing an additional 203 shares during the period. GAMMA Investing LLC’s holdings in SL Green Realty were worth $285,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SLG. Rosenberg Matthew Hamilton boosted its stake in SL Green Realty by 6.6% in the 3rd 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 boosted its position in shares of 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 valued at $262,000 after acquiring an additional 148 shares during the period. Versant Capital Management Inc increased its holdings in SL Green Realty by 17.7% during the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 157 shares during the period. MML Investors Services LLC lifted its stake in SL Green Realty by 2.7% in the 3rd quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust’s stock worth $427,000 after purchasing an additional 161 shares in the last quarter. Finally, Xponance Inc. lifted its stake in SL Green Realty by 6.6% in the 2nd 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 in the last quarter. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Price Performance

Shares of NYSE SLG opened at $67.35 on Tuesday. SL Green Realty Corp. has a 1 year low of $41.81 and a 1 year high of $82.81. The stock has a market capitalization of $4.44 billion, a P/E ratio of -26.94, a P/E/G ratio of 4.26 and a beta of 1.82. The company’s 50-day moving average is $74.46 and its 200 day moving average is $68.36. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58.

SL Green Realty (NYSE:SLG) last posted its 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). The firm had revenue of $229.69 million for the quarter, compared to analysts’ expectations 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 last year, the company posted $1.27 EPS. On average, sell-side analysts expect that SL Green Realty Corp. will post 7.82 earnings per share for the current year.

SL Green Realty Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.2575 dividend. This is an increase 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 4.59%. SL Green Realty’s dividend payout ratio is -123.60%.

Wall Street Analyst Weigh In

SLG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised shares of SL Green Realty from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $51.00 to $80.00 in a report on Tuesday, December 10th. Wells Fargo & Company raised their price target on SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. Compass Point lifted their price target on SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Piper Sandler reiterated an “overweight” rating and set a $90.00 price objective (up from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Finally, Morgan Stanley boosted their target price on SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, SL Green Realty currently has an average rating of “Hold” and a consensus target price of $68.47.

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.