LDR Capital Management LLC Sells 100,000 Shares of SL Green Realty Corp. (NYSE:SLG)

LDR Capital Management LLC cut its holdings in SL Green Realty Corp. (NYSE:SLG) by 33.3% during the 2nd quarter, Holdings Channel reports. The firm owned 200,000 shares of the real estate investment trust’s stock after selling 100,000 shares during the period. SL Green Realty comprises approximately 10.4% of LDR Capital Management LLC’s investment portfolio, making the stock its 2nd biggest holding. LDR Capital Management LLC’s holdings in SL Green Realty were worth $11,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of SLG. Allspring Global Investments Holdings LLC acquired a new stake in SL Green Realty during the second quarter worth approximately $29,000. Fidelis Capital Partners LLC acquired a new stake in SL Green Realty during the first quarter worth approximately $55,000. GAMMA Investing LLC acquired a new stake in SL Green Realty during the fourth quarter worth approximately $140,000. Meeder Advisory Services Inc. purchased a new position in SL Green Realty during the first quarter worth approximately $201,000. Finally, Mackenzie Financial Corp purchased a new position in SL Green Realty during the fourth quarter worth approximately $206,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SLG. Scotiabank increased their price target on shares of SL Green Realty from $53.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 7th. Truist Financial raised their price target on shares of SL Green Realty from $47.00 to $55.00 and gave the company a “hold” rating in a report on Friday, July 19th. StockNews.com raised shares of SL Green Realty to a “sell” rating in a report on Friday, July 19th. Evercore ISI raised their price target on shares of SL Green Realty from $47.00 to $49.00 and gave the company an “underperform” rating in a report on Monday, July 1st. Finally, Barclays raised their price target on shares of SL Green Realty from $49.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $53.31.

SL Green Realty Stock Performance

SLG traded up $1.21 on Tuesday, hitting $66.95. 436,670 shares of the company’s stock were exchanged, compared to its average volume of 1,054,654. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.98. The stock has a fifty day moving average of $60.95 and a two-hundred day moving average of $54.60. SL Green Realty Corp. has a twelve month low of $28.55 and a twelve month high of $68.92. The firm has a market cap of $4.41 billion, a PE ratio of -8.11, a P/E/G ratio of 2.03 and a beta of 1.83.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.09. The business had revenue of $222.82 million for the quarter, compared to analyst estimates of $133.83 million. SL Green Realty had a negative net margin of 19.31% and a negative return on equity of 3.92%. The business’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter last year, the business earned $1.43 earnings per share. On average, research analysts anticipate that SL Green Realty Corp. will post 7.58 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date is Friday, August 30th. SL Green Realty’s payout ratio is -36.32%.

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.