Opinicus Capital Inc. Sells 338 Shares of SL Green Realty Corp. (NYSE:SLG)

Opinicus Capital Inc. cut its position in SL Green Realty Corp. (NYSE:SLG) by 3.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,445 shares of the real estate investment trust’s stock after selling 338 shares during the quarter. Opinicus Capital Inc.’s holdings in SL Green Realty were worth $487,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new stake in SL Green Realty during the fourth quarter worth $39,000. Quadrant Capital Group LLC grew its position in SL Green Realty by 37.4% in the fourth 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 last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of SL Green Realty in the 4th quarter valued at approximately $75,000. GF Fund Management CO. LTD. acquired a new position in SL Green Realty during the 4th quarter worth approximately $80,000. Finally, Summit Securities Group LLC acquired a new stake in SL Green Realty in the fourth quarter valued at approximately $88,000. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Trading Up 0.6%

NYSE SLG opened at $65.70 on Friday. The stock has a market capitalization of $4.68 billion, a P/E ratio of 821.25, a P/E/G ratio of 5.30 and a beta of 1.66. SL Green Realty Corp. has a one year low of $45.15 and a one year high of $82.81. The business has a 50 day simple moving average of $55.88 and a 200 day simple moving average of $62.03. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58.

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

SL Green Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $0.2575 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.03 dividend on an annualized basis and a yield of 1.57%. SL Green Realty’s dividend payout ratio (DPR) is presently -735.71%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SLG shares. Evercore ISI upgraded SL Green Realty from an “in-line” rating to an “outperform” rating and dropped their price target for the company from $74.00 to $73.00 in a research note on Monday, March 17th. Scotiabank cut their price target on SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Jefferies Financial Group began coverage on SL Green Realty in a research note on Monday, March 17th. They issued a “hold” rating and a $58.00 price objective for the company. Piper Sandler reduced their target price on shares of SL Green Realty from $90.00 to $72.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Finally, Wall Street Zen downgraded shares of SL Green Realty from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $66.33.

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.