Quantbot Technologies LP Makes New Investment in SL Green Realty Corporation $SLG

Quantbot Technologies LP acquired a new stake in SL Green Realty Corporation (NYSE:SLG) in the second quarter, HoldingsChannel.com reports. The firm acquired 11,393 shares of the real estate investment trust’s stock, valued at approximately $590,000.

Several other institutional investors have also recently added to or reduced their stakes in SLG. Triumph Capital Management purchased a new position in SL Green Realty during the third quarter worth about $45,000. Global Retirement Partners LLC purchased a new stake in SL Green Realty in the 2nd quarter valued at about $53,000. Davis Capital Management purchased a new stake in SL Green Realty in the 1st quarter valued at about $46,000. Fourth Dimension Wealth LLC increased its stake in shares of SL Green Realty by 45.5% during the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 500 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of SL Green Realty by 30.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 378 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SL Green Realty

In related news, insider Harrison Sitomer sold 23,113 shares of SL Green Realty stock in a transaction on Friday, August 21st. The shares were sold at an average price of $57.71, for a total transaction of $1,333,851.23. Following the transaction, the insider owned 109,468 shares in the company, valued at approximately $6,317,398.28. The trade was a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.94% of the company’s stock.

SL Green Realty Stock Down 1.4%

SLG opened at $57.87 on Friday. SL Green Realty Corporation has a 1 year low of $34.77 and a 1 year high of $66.29. The firm has a 50 day moving average price of $53.43 and a 200 day moving average price of $45.79. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.10 and a current ratio of 3.10. The company has a market cap of $4.12 billion, a PE ratio of -21.20, a price-to-earnings-growth ratio of 2.58 and a beta of 1.58.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.21. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.37%. The firm had revenue of $264.00 million for the quarter, compared to analysts’ expectations of $179.01 million. During the same period in the previous year, the company posted $1.63 earnings per share. SL Green Realty’s revenue was up 16.5% compared to the same quarter last year. Sell-side analysts expect that SL Green Realty Corporation will post 5.44 earnings per share for the current year.

SL Green Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, June 30th. SL Green Realty’s dividend payout ratio (DPR) is currently -90.48%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Truist Financial set a $57.00 price objective on shares of SL Green Realty and gave the stock a “hold” rating in a report on Monday. Evercore lowered shares of SL Green Realty from an “outperform” rating to an “in-line” rating and set a $56.00 price target for the company. in a research report on Monday, July 6th. UBS Group set a $60.00 price target on shares of SL Green Realty in a research note on Monday, July 27th. Piper Sandler set a $79.00 price target on shares of SL Green Realty and gave the company an “overweight” rating in a report on Friday, July 24th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of SL Green Realty in a research note on Tuesday. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $56.20.

SL Green Realty Company Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.