Brevan Howard Capital Management LP Has $924,000 Stake in SL Green Realty Corp. (NYSE:SLG)

Brevan Howard Capital Management LP lessened its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 20.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,611 shares of the real estate investment trust’s stock after selling 3,409 shares during the period. Brevan Howard Capital Management LP’s holdings in SL Green Realty were worth $924,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp acquired a new stake in SL Green Realty during the fourth quarter worth approximately $39,000. Quadrant Capital Group LLC lifted its position in shares of SL Green Realty by 37.4% during the 4th quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 208 shares during the period. Summit Securities Group LLC acquired a new stake in shares of SL Green Realty during the 4th quarter worth $88,000. FIL Ltd increased its position in shares of SL Green Realty by 53.3% in the fourth quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 550 shares during the period. Finally, Blue Trust Inc. increased its position in shares of SL Green Realty by 106.3% in the fourth quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 857 shares during the period. 89.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SLG has been the topic of a number of analyst reports. Piper Sandler reduced their price objective on shares of SL Green Realty from $90.00 to $72.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Scotiabank cut their price target on shares of SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Morgan Stanley lifted their price objective on shares of SL Green Realty from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 12th. Wells Fargo & Company lowered their price objective on shares of SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Finally, Jefferies Financial Group began coverage on SL Green Realty in a report on Monday, March 17th. They issued a “hold” rating and a $58.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $67.07.

SL Green Realty Stock Performance

Shares of SLG stock opened at $55.03 on Thursday. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 687.88, a PEG ratio of 5.30 and a beta of 1.59. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The business’s 50-day moving average price is $55.30 and its 200-day moving average price is $65.35. SL Green Realty Corp. has a 12 month low of $45.15 and a 12 month high of $82.81.

SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.13. The firm had revenue of $144.52 million for the quarter, compared to analyst estimates of $158.44 million. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. Equities research analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be given a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Wednesday, April 30th. SL Green Realty’s dividend payout ratio is currently -735.71%.

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.