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

Quantbot Technologies LP cut its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 67.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. 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 owned 0.05% of SL Green Realty worth $2,394,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. DekaBank Deutsche Girozentrale raised its position in shares of SL Green Realty by 18.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 67,923 shares of the real estate investment trust’s stock worth $3,665,000 after acquiring an additional 10,704 shares in the last quarter. Edgestream Partners L.P. raised 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 in the last quarter. Swedbank AB bought a new stake in shares of SL Green Realty during the 1st quarter valued at $4,675,000. Waterfall Asset Management LLC purchased a new stake in shares of SL Green Realty in the 2nd quarter worth about $3,172,000. Finally, Daiwa Securities Group Inc. grew its position in shares of 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 worth $7,244,000 after buying an additional 14,871 shares during the period. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Compass Point set a $65.00 price target on SL Green Realty and gave the stock a “neutral” rating in a research note on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and issued a $90.00 price target (up previously from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Jefferies Financial Group raised their price objective on shares of SL Green Realty from $70.00 to $72.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $87.00 price target (up previously from $72.00) on shares of SL Green Realty in a report on Monday, October 21st. Finally, Wells Fargo & Company boosted their price objective on shares of SL Green Realty from $43.00 to $63.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $66.00.

SL Green Realty Price Performance

Shares of NYSE:SLG opened at $78.85 on Friday. 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 firm has a market cap of $5.20 billion, a price-to-earnings ratio of -31.54, a P/E/G ratio of 2.08 and a beta of 1.82. The firm has a fifty day moving average price of $74.51 and a 200 day moving average price of $64.93. SL Green Realty Corp. has a fifty-two week low of $33.64 and a fifty-two week high of $82.81.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data 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 firm had revenue of $229.69 million for the quarter, compared to analysts’ expectations of $136.66 million. During the same quarter in the previous year, the business earned $1.27 EPS. As a group, sell-side analysts expect that SL Green Realty Corp. will post 7.61 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given 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 dividend 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.