BBR Partners LLC Acquires New Position in SL Green Realty Corp. (NYSE:SLG)

BBR Partners LLC acquired a new position in shares of SL Green Realty Corp. (NYSE:SLG) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,988 shares of the real estate investment trust’s stock, valued at approximately $278,000.

Several other large investors have also recently bought and sold shares of SLG. Venturi Wealth Management LLC boosted its position in shares of SL Green Realty by 272.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 272 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of SL Green Realty in the second quarter valued at about $29,000. Friedenthal Financial acquired a new stake in shares of SL Green Realty in the third quarter valued at approximately $49,000. Blue Trust Inc. increased its stake in shares of SL Green Realty by 363.2% during the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 632 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new position in shares of SL Green Realty during the 2nd quarter worth approximately $55,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SLG shares. Compass Point set a $65.00 target price on SL Green Realty and gave the company a “neutral” rating in a report on Friday, October 18th. Scotiabank boosted their target price on shares of SL Green Realty from $68.00 to $80.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. The Goldman Sachs Group raised their price target on shares of SL Green Realty from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Bank of America raised their price objective on SL Green Realty from $59.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Finally, Morgan Stanley boosted their target price on shares of SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $66.00.

SL Green Realty Stock Up 0.9 %

SL Green Realty stock opened at $78.85 on Thursday. SL Green Realty Corp. has a 52 week low of $33.64 and a 52 week high of $82.81. 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. The company’s 50-day moving average price is $74.38 and its two-hundred day moving average price is $64.83. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($1.42). The company had revenue of $229.69 million during the quarter, compared to the consensus estimate 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 last year, the business earned $1.27 earnings per share. On average, analysts expect that SL Green Realty Corp. will post 7.61 EPS for the current fiscal year.

SL Green Realty Announces Dividend

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

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.