SL Green Realty Corp. (NYSE:SLG) Shares Purchased by Fmr LLC

Fmr LLC grew its position in shares of SL Green Realty Corp. (NYSE:SLG) by 69.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,185 shares of the real estate investment trust’s stock after buying an additional 23,780 shares during the period. Fmr LLC owned about 0.09% of SL Green Realty worth $4,050,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Edgestream Partners L.P. boosted its holdings in SL Green Realty by 40.1% in the second quarter. Edgestream Partners L.P. now owns 122,880 shares of the real estate investment trust’s stock worth $6,960,000 after purchasing an additional 35,178 shares during the period. Waterfall Asset Management LLC acquired a new stake in SL Green Realty in the second quarter worth $3,172,000. Daiwa Securities Group Inc. lifted its position in SL Green Realty by 13.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 127,899 shares of the real estate investment trust’s stock valued at $7,244,000 after purchasing an additional 14,871 shares during the last quarter. Citigroup Inc. boosted its stake in SL Green Realty by 54.6% during the 3rd quarter. Citigroup Inc. now owns 85,587 shares of the real estate investment trust’s stock valued at $5,958,000 after purchasing an additional 30,220 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in SL Green Realty by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock worth $88,275,000 after buying an additional 97,653 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Ratings Changes

SLG has been the subject of several research analyst reports. Jefferies Financial Group upped their price objective on shares of SL Green Realty from $70.00 to $72.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $51.00 to $80.00 in a report on Tuesday. Scotiabank lifted their price objective on shares of SL Green Realty from $80.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Bank of America increased their target price on SL Green Realty from $59.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Finally, Barclays lifted their price target on SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $68.67.

SL Green Realty Stock Performance

NYSE:SLG opened at $74.60 on Friday. SL Green Realty Corp. has a 52-week low of $41.81 and a 52-week high of $82.81. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58. The company has a market cap of $4.92 billion, a price-to-earnings ratio of -29.78, a PEG ratio of 3.49 and a beta of 1.81. The firm’s 50-day moving average is $75.46 and its 200-day moving average is $66.47.

SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. The business had revenue of $229.69 million during the quarter, compared to the consensus estimate of $136.66 million. During the same period in the previous year, the firm earned $1.27 EPS. Equities research analysts anticipate that SL Green Realty Corp. will post 7.84 earnings per share for the current year.

SL Green Realty Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.2575 per share. This is an increase from SL Green Realty’s previous monthly dividend of $0.25. This represents a $3.09 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Tuesday, December 31st. SL Green Realty’s dividend payout ratio (DPR) is currently -120.00%.

About SL Green Realty

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.