267,070 Shares in SL Green Realty Corp. (NYSE:SLG) Bought by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP acquired a new stake in shares of SL Green Realty Corp. (NYSE:SLG) in the 4th quarter, Holdings Channel.com reports. The fund acquired 267,070 shares of the real estate investment trust’s stock, valued at approximately $18,139,000.

A number of other hedge funds have also recently modified their holdings of SLG. Jones Financial Companies Lllp purchased a new position in SL Green Realty during the 4th quarter valued at about $39,000. Quadrant Capital Group LLC lifted its holdings in shares of SL Green Realty by 37.4% during the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 208 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of SL Green Realty during the fourth quarter valued at approximately $88,000. FIL Ltd boosted its position in shares of SL Green Realty by 53.3% in the 4th quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 550 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of SL Green Realty by 106.3% in the 4th quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 857 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on SLG shares. Truist Financial lowered their price objective on SL Green Realty from $62.00 to $54.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Piper Sandler dropped their price target on shares of SL Green Realty from $90.00 to $72.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Morgan Stanley raised their price objective on shares of SL Green Realty from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 12th. Bank of America decreased their target price on shares of SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Finally, Wells Fargo & Company cut their price target on shares of SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $67.07.

SL Green Realty Stock Performance

Shares of SLG opened at $56.61 on Friday. The firm has a market capitalization of $4.04 billion, a P/E ratio of 707.63, a PEG ratio of 5.30 and a beta of 1.59. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. SL Green Realty Corp. has a one year low of $45.15 and a one year high of $82.81. The business has a fifty day moving average of $55.05 and a 200 day moving average of $64.99.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.13. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. The business had revenue of $144.52 million during the quarter, compared to the consensus estimate of $158.44 million. As a group, sell-side analysts anticipate that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.2575 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.03 dividend on an annualized basis and a yield of 1.82%. SL Green Realty’s dividend payout ratio is currently -735.71%.

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.