111 Capital Acquires Shares of 5,399 SL Green Realty Corporation $SLG

111 Capital acquired a new stake in shares of SL Green Realty Corporation (NYSE:SLG) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 5,399 shares of the real estate investment trust’s stock, valued at approximately $334,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its position in SL Green Realty by 4.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 77,149 shares of the real estate investment trust’s stock valued at $4,774,000 after purchasing an additional 3,572 shares during the period. Public Employees Retirement System of Ohio increased its position in SL Green Realty by 2.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 102,589 shares of the real estate investment trust’s stock valued at $6,350,000 after purchasing an additional 2,586 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in SL Green Realty during the 2nd quarter valued at $225,000. Strs Ohio purchased a new position in SL Green Realty during the 1st quarter valued at $1,593,000. Finally, Intech Investment Management LLC grew its position in shares of SL Green Realty by 36.9% in the 1st quarter. Intech Investment Management LLC now owns 48,390 shares of the real estate investment trust’s stock worth $2,792,000 after buying an additional 13,048 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Stock Performance

Shares of SLG stock opened at $58.96 on Tuesday. SL Green Realty Corporation has a one year low of $45.15 and a one year high of $82.81. The company’s 50-day moving average is $58.31 and its 200 day moving average is $58.18. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of -109.18 and a beta of 1.77. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.72 and a current ratio of 2.72.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, beating the consensus estimate of $1.37 by $0.26. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The company had revenue of $147.54 million for the quarter, compared to the consensus estimate of $171.24 million. During the same period in the prior year, the firm posted $2.05 EPS. SL Green Realty’s revenue for the quarter was up 8.6% on a year-over-year basis. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. Sell-side analysts expect that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently disclosed a sep 25 dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.2575 per share. This represents a yield of 517.0%. The ex-dividend date of this dividend is Tuesday, September 30th. SL Green Realty’s dividend payout ratio is -572.22%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of SL Green Realty from $54.00 to $58.00 and gave the stock a “hold” rating in a research report on Friday, July 18th. Evercore ISI upped their target price on shares of SL Green Realty from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Citigroup raised shares of SL Green Realty from a “neutral” rating to a “buy” rating and upped their target price for the stock from $65.00 to $70.00 in a research report on Friday, September 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of SL Green Realty in a research report on Saturday, September 27th. Finally, Scotiabank raised shares of SL Green Realty from a “sector perform” rating to a “sector outperform” rating and set a $71.00 target price on the stock in a research report on Friday, July 25th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $67.79.

Insider Buying and Selling

In related news, Director Carol N. Brown sold 937 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $63.09, for a total transaction of $59,115.33. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.04% of the company’s stock.

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.