Versant Capital Management Inc Buys 157 Shares of SL Green Realty Corp. (NYSE:SLG)

Versant Capital Management Inc grew its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 17.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,044 shares of the real estate investment trust’s stock after acquiring an additional 157 shares during the period. Versant Capital Management Inc’s holdings in SL Green Realty were worth $71,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SLG. Venturi Wealth Management LLC grew its holdings in SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 272 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of SL Green Realty during the 2nd quarter worth $29,000. Point72 DIFC Ltd purchased a new stake in SL Green Realty in the 3rd quarter worth about $35,000. Friedenthal Financial purchased a new stake in SL Green Realty in the 3rd quarter worth about $49,000. Finally, Blue Trust Inc. lifted its holdings in SL Green Realty by 363.2% during the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 632 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Down 0.4 %

Shares of NYSE:SLG opened at $68.08 on Monday. The firm has a market capitalization of $4.49 billion, a PE ratio of -27.23, a price-to-earnings-growth ratio of 4.26 and a beta of 1.82. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58. SL Green Realty Corp. has a 52-week low of $41.81 and a 52-week high of $82.81. The firm has a fifty day moving average of $74.46 and a 200 day moving average of $68.28.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($1.42). The firm had revenue of $229.69 million during the quarter, compared to analysts’ expectations of $136.66 million. SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. During the same period in the prior year, the company earned $1.27 EPS. As a group, research analysts anticipate that SL Green Realty Corp. will post 7.82 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.2575 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.09 annualized dividend and a yield of 4.54%. This is an increase from SL Green Realty’s previous monthly dividend of $0.25. SL Green Realty’s payout ratio is presently -123.60%.

Wall Street Analyst Weigh In

SLG has been the subject of several recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $90.00 target price (up previously from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Wells Fargo & Company lifted their price objective on shares of SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. Scotiabank increased their target price on SL Green Realty from $80.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 10th. 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 research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $51.00 to $80.00 in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $68.47.

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.