SG Americas Securities LLC Acquires New Shares in SL Green Realty Corp. (NYSE:SLG)

SG Americas Securities LLC acquired a new stake in shares of SL Green Realty Corp. (NYSE:SLG) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 85,583 shares of the real estate investment trust’s stock, valued at approximately $4,938,000.

Several other hedge funds also recently modified their holdings of the company. Vert Asset Management LLC boosted its holdings in shares of SL Green Realty by 2.0% during the 1st quarter. Vert Asset Management LLC now owns 30,572 shares of the real estate investment trust’s stock valued at $1,764,000 after acquiring an additional 596 shares in the last quarter. Prospect Financial Services LLC boosted its holdings in shares of SL Green Realty by 0.9% during the 1st quarter. Prospect Financial Services LLC now owns 232,084 shares of the real estate investment trust’s stock valued at $13,391,000 after acquiring an additional 2,004 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of SL Green Realty by 5,759.5% during the 1st quarter. GAMMA Investing LLC now owns 245,629 shares of the real estate investment trust’s stock valued at $14,173,000 after acquiring an additional 241,437 shares in the last quarter. 111 Capital acquired a new stake in shares of SL Green Realty during the 4th quarter valued at $557,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of SL Green Realty during the 4th quarter valued at $80,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SLG shares. Wall Street Zen downgraded SL Green Realty from a “hold” rating to a “sell” rating in a report on Saturday, May 24th. Morgan Stanley lifted their target price on SL Green Realty from $52.00 to $55.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 12th. Evercore ISI raised SL Green Realty from an “in-line” rating to an “outperform” rating and cut their target price for the stock from $74.00 to $73.00 in a report on Monday, March 17th. Piper Sandler cut their target price on 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, Barclays cut their target price on SL Green Realty from $76.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. Two equities research 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $66.33.

SL Green Realty Stock Up 0.6%

Shares of NYSE:SLG opened at $65.70 on Friday. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 821.25, a P/E/G ratio of 5.30 and a beta of 1.66. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. The business’s 50-day moving average is $55.88 and its 200-day moving average is $62.03. SL Green Realty Corp. has a 1 year low of $45.15 and a 1 year high of $82.81.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.13. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. The business had revenue of $144.52 million during the quarter, compared to analyst estimates of $158.44 million. Equities research analysts predict 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 announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, May 30th. SL Green Realty’s payout ratio is -735.71%.

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.