4,575 Shares in SL Green Realty Corp. (NYSE:SLG) Purchased by Choreo LLC

Choreo LLC bought a new stake in shares of SL Green Realty Corp. (NYSE:SLG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,575 shares of the real estate investment trust’s stock, valued at approximately $252,000.

A number of other hedge funds have also recently modified their holdings of SLG. Allspring Global Investments Holdings LLC bought a new stake in shares of SL Green Realty during the second quarter worth $29,000. Fidelis Capital Partners LLC purchased a new stake in SL Green Realty in the 1st quarter valued at about $55,000. Rothschild Investment LLC bought a new position in SL Green Realty in the 2nd quarter worth about $55,000. GAMMA Investing LLC increased its position in shares of SL Green Realty by 6.3% during the first quarter. GAMMA Investing LLC now owns 3,305 shares of the real estate investment trust’s stock worth $182,000 after acquiring an additional 196 shares during the period. Finally, Meeder Advisory Services Inc. bought a new stake in shares of SL Green Realty during the first quarter valued at approximately $201,000. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

SLG opened at $72.04 on Thursday. SL Green Realty Corp. has a twelve month low of $28.55 and a twelve month high of $73.80. The firm has a market capitalization of $4.74 billion, a PE ratio of -8.72, a PEG ratio of 2.15 and a beta of 1.83. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.98. The firm’s 50-day moving average price is $64.33 and its 200 day moving average price is $56.82.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. SL Green Realty had a negative return on equity of 3.92% and a negative net margin of 19.31%. The company had revenue of $222.82 million for the quarter, compared to analyst estimates of $133.83 million. During the same quarter in the previous year, the company posted $1.43 earnings per share. The firm’s revenue for the quarter was down 9.4% compared to the same quarter last year. As a group, sell-side analysts expect that SL Green Realty Corp. will post 7.58 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.25 dividend. This represents a $3.00 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Friday, August 30th. SL Green Realty’s dividend payout ratio (DPR) is presently -36.32%.

Wall Street Analyst Weigh In

Several research analysts have commented on SLG shares. Piper Sandler lifted their target price on SL Green Realty from $58.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Citigroup raised shares of SL Green Realty from a “sell” rating to a “neutral” rating and increased their price objective for the company from $44.00 to $66.00 in a research report on Friday, September 13th. Evercore ISI upgraded SL Green Realty from an “underperform” rating to an “inline” rating and raised their price objective for the stock from $55.00 to $66.00 in a research note on Monday. StockNews.com upgraded shares of SL Green Realty to a “sell” rating in a research report on Friday, July 19th. Finally, Compass Point raised SL Green Realty from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $35.00 to $60.00 in a report on Wednesday. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, SL Green Realty presently has a consensus rating of “Hold” and an average target price of $59.64.

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.