Quantbot Technologies LP Acquires 23,314 Shares of SL Green Realty Corp. (NYSE:SLG)

Quantbot Technologies LP grew its holdings in SL Green Realty Corp. (NYSE:SLG) by 28.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,360 shares of the real estate investment trust’s stock after purchasing an additional 23,314 shares during the period. Quantbot Technologies LP owned about 0.16% of SL Green Realty worth $6,024,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. International Assets Investment Management LLC boosted its position in SL Green Realty by 8,523.6% in the 4th quarter. International Assets Investment Management LLC now owns 9,486 shares of the real estate investment trust’s stock valued at $428,000 after buying an additional 9,376 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of SL Green Realty by 3.6% in the fourth quarter. Victory Capital Management Inc. now owns 24,223 shares of the real estate investment trust’s stock valued at $1,094,000 after purchasing an additional 851 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in SL Green Realty by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,024,383 shares of the real estate investment trust’s stock worth $46,271,000 after purchasing an additional 30,289 shares during the period. Independent Advisor Alliance purchased a new position in SL Green Realty during the 4th quarter worth $1,036,000. Finally, Norges Bank bought a new stake in SL Green Realty during the 4th quarter valued at $18,664,000. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Stock Performance

Shares of SLG stock opened at $69.40 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.59 and a quick ratio of 2.59. The business has a fifty day moving average of $63.49 and a 200 day moving average of $56.41. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of -8.40, a price-to-earnings-growth ratio of 2.15 and a beta of 1.83. SL Green Realty Corp. has a 1 year low of $28.55 and a 1 year high of $71.31.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.09. The firm had revenue of $222.82 million during the quarter, compared to analysts’ expectations of $133.83 million. SL Green Realty had a negative return on equity of 3.92% and a negative net margin of 19.31%. The company’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period last year, the business posted $1.43 earnings per share. As a group, research analysts expect that SL Green Realty Corp. will post 7.58 earnings per share for the current year.

SL Green Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a $0.25 dividend. This represents a $3.00 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Friday, August 30th. SL Green Realty’s dividend payout ratio (DPR) is currently -36.32%.

Analyst Upgrades and Downgrades

SLG has been the topic of several recent research reports. The Goldman Sachs Group increased their target price on shares of SL Green Realty from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Truist Financial boosted their target price on shares of SL Green Realty from $47.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Scotiabank raised their price target on shares of SL Green Realty from $53.00 to $68.00 and gave the company a “sector perform” rating in a report on Wednesday, August 7th. Evercore ISI lifted their price objective on shares of SL Green Realty from $54.00 to $55.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Finally, Barclays increased their target price on shares of SL Green Realty from $49.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $56.50.

SL Green Realty Company 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.