Profund Advisors LLC Makes New Investment in SL Green Realty Corporation $SLG

Profund Advisors LLC bought a new stake in SL Green Realty Corporation (NYSE:SLG) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,393 shares of the real estate investment trust’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. increased its stake in SL Green Realty by 67.8% in the second quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 253 shares during the last quarter. State of Wyoming acquired a new stake in shares of SL Green Realty in the 1st quarter valued at $172,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of SL Green Realty in the 2nd quarter valued at $225,000. United Services Automobile Association acquired a new position in shares of SL Green Realty during the 1st quarter worth $253,000. Finally, Mackenzie Financial Corp lifted its position in shares of SL Green Realty by 4.7% during the 1st quarter. Mackenzie Financial Corp now owns 5,324 shares of the real estate investment trust’s stock worth $307,000 after buying an additional 240 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Insider Buying and Selling

In other SL Green Realty news, Director Carol N. Brown sold 937 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $63.09, for a total value of $59,115.33. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 5.04% of the company’s stock.

SL Green Realty Stock Down 1.0%

NYSE:SLG opened at $47.90 on Monday. SL Green Realty Corporation has a one year low of $45.15 and a one year high of $80.90. The company has a debt-to-equity ratio of 1.04, a current ratio of 3.22 and a quick ratio of 2.72. The company has a market cap of $3.42 billion, a PE ratio of 4,794.39 and a beta of 1.75. The firm’s 50 day simple moving average is $56.32 and its 200 day simple moving average is $58.03.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Thursday, October 16th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.24. The firm had revenue of $244.82 million during the quarter, compared to analysts’ expectations of $170.27 million. SL Green Realty had a net margin of 1.75% and a negative return on equity of 0.22%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 EPS. On average, research analysts anticipate that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be given a dividend of $0.2575 per share. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Friday, October 31st. SL Green Realty’s dividend payout ratio (DPR) is currently 30,900.00%.

Analysts Set New Price Targets

SLG has been the topic of a number of recent analyst reports. Barclays set a $59.00 target price on SL Green Realty in a research report on Monday, November 3rd. Bank of America decreased their price target on shares of SL Green Realty from $64.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, October 17th. New Street Research set a $72.00 price objective on shares of SL Green Realty in a research note on Thursday, October 9th. Weiss Ratings restated a “sell (d+)” rating on shares of SL Green Realty in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group upgraded shares of SL Green Realty from a “neutral” rating to a “buy” rating and upped their price target for the stock from $57.00 to $63.00 in a report on Monday, October 13th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $64.33.

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.