Quantbot Technologies LP Raises Position in SL Green Realty Corp. (NYSE:SLG)

Quantbot Technologies LP boosted its position in SL Green Realty Corp. (NYSE:SLG) by 176.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,043 shares of the real estate investment trust’s stock after purchasing an additional 60,649 shares during the period. Quantbot Technologies LP’s holdings in SL Green Realty were worth $6,455,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SLG. Versant Capital Management Inc grew its stake in SL Green Realty by 17.7% in the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 157 shares in the last quarter. MML Investors Services LLC raised its stake in shares of SL Green Realty by 2.7% during the 3rd quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust’s stock valued at $427,000 after purchasing an additional 161 shares during the period. GAMMA Investing LLC lifted its holdings in SL Green Realty by 5.1% during the 4th quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust’s stock worth $285,000 after purchasing an additional 203 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in SL Green Realty by 272.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 272 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in shares of SL Green Realty by 1.3% during the fourth quarter. Natixis Advisors LLC now owns 21,820 shares of the real estate investment trust’s stock valued at $1,482,000 after buying an additional 284 shares during the period. 89.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SLG. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $51.00 to $80.00 in a research report on Tuesday, December 10th. Compass Point raised their price target on shares of SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Jefferies Financial Group decreased their price target on shares of SL Green Realty from $75.00 to $69.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Scotiabank dropped their price objective on SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Finally, Barclays reduced their target price on SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, SL Green Realty currently has an average rating of “Hold” and a consensus price target of $71.00.

Insider Activity at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of the transaction, the director now owns 2,052 shares in the company, valued at approximately $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.08% of the stock is currently owned by company insiders.

SL Green Realty Stock Down 3.5 %

Shares of NYSE SLG opened at $55.56 on Friday. The stock has a market capitalization of $3.96 billion, a P/E ratio of 694.44, a PEG ratio of 5.30 and a beta of 1.82. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. SL Green Realty Corp. has a one year low of $47.22 and a one year high of $82.81. The firm’s 50 day simple moving average is $64.22 and its two-hundred day simple moving average is $69.39.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. As a group, analysts expect that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $0.2575 dividend. This represents a $3.09 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date of this dividend is Friday, February 28th. SL Green Realty’s dividend payout ratio (DPR) is presently 3,862.50%.

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.