Quantbot Technologies LP Trims Stake in SL Green Realty Corp. (NYSE:SLG)

Quantbot Technologies LP cut its position in shares of SL Green Realty Corp. (NYSE:SLG) by 67.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,394 shares of the real estate investment trust’s stock after selling 71,966 shares during the period. Quantbot Technologies LP’s holdings in SL Green Realty were worth $2,394,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of SL Green Realty by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock valued at $88,275,000 after buying an additional 97,653 shares during the last quarter. Dimensional Fund Advisors LP grew its position in SL Green Realty by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust’s stock valued at $56,350,000 after acquiring an additional 88,309 shares during the last quarter. Bank of New York Mellon Corp grew its position in SL Green Realty by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 810,490 shares of the real estate investment trust’s stock valued at $45,906,000 after acquiring an additional 14,167 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of SL Green Realty by 8.2% during the second quarter. Federated Hermes Inc. now owns 433,896 shares of the real estate investment trust’s stock worth $24,576,000 after purchasing an additional 32,985 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of SL Green Realty by 1.4% during the second quarter. Rhumbline Advisers now owns 234,858 shares of the real estate investment trust’s stock valued at $13,302,000 after purchasing an additional 3,255 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $87.00 price target (up previously from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. Citigroup raised shares of SL Green Realty from a “sell” rating to a “neutral” rating and lifted their price target for the company from $44.00 to $66.00 in a research note on Friday, September 13th. Bank of America increased their price objective on SL Green Realty from $59.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lifted their target price on SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. Finally, Evercore ISI increased their price target on SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $66.00.

SL Green Realty Trading Up 0.9 %

Shares of NYSE:SLG opened at $78.85 on Friday. The business has a 50-day moving average price of $74.51 and a 200-day moving average price of $64.93. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of -31.54, a PEG ratio of 2.08 and a beta of 1.82. SL Green Realty Corp. has a 52-week low of $33.64 and a 52-week high of $82.81. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing the consensus estimate of $1.21 by ($1.42). The business had revenue of $229.69 million for the quarter, compared to analyst estimates of $136.66 million. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. During the same quarter in the previous year, the firm posted $1.27 earnings per share. Equities analysts predict that SL Green Realty Corp. will post 7.61 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.80%. SL Green Realty’s payout ratio is currently -120.00%.

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.