Saba Capital Management L.P. Invests $665,000 in SL Green Realty Corporation $SLG

Saba Capital Management L.P. bought a new stake in SL Green Realty Corporation (NYSE:SLG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 18,014 shares of the real estate investment trust’s stock, valued at approximately $665,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in SL Green Realty by 63.8% in the 4th quarter. SG Americas Securities LLC now owns 80,888 shares of the real estate investment trust’s stock worth $3,710,000 after acquiring an additional 31,505 shares during the period. Hosking Partners LLP grew its position in SL Green Realty by 18.5% in the fourth quarter. Hosking Partners LLP now owns 290,166 shares of the real estate investment trust’s stock valued at $13,310,000 after acquiring an additional 45,337 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of SL Green Realty during the fourth quarter valued at approximately $43,201,000. Levin Capital Strategies L.P. purchased a new stake in shares of SL Green Realty during the fourth quarter valued at approximately $3,588,000. Finally, Nan Fung Trinity HK Ltd. acquired a new position in shares of SL Green Realty during the fourth quarter worth $6,230,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Price Performance

Shares of NYSE SLG opened at $53.05 on Wednesday. SL Green Realty Corporation has a twelve month low of $34.77 and a twelve month high of $66.29. The company has a current ratio of 3.10, a quick ratio of 3.03 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of -19.43 and a beta of 1.58. The business has a 50 day simple moving average of $49.37 and a 200-day simple moving average of $44.20.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.21. SL Green Realty had a negative return on equity of 4.43% and a negative net margin of 16.92%.The business had revenue of $171.85 million for the quarter, compared to analyst estimates of $179.01 million. During the same period in the prior year, the company posted $1.63 EPS. The business’s revenue was up 16.5% compared to the same quarter last year. SL Green Realty has set its FY 2026 guidance at 5.600-5.900 EPS. As a group, equities research analysts expect that SL Green Realty Corporation will post 5.15 earnings per share for the current year.

SL Green Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.6175 per share. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Tuesday, June 30th. SL Green Realty’s dividend payout ratio is -90.48%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SLG. Piper Sandler set a $79.00 target price on shares of SL Green Realty and gave the company an “overweight” rating in a research note on Friday. Mizuho boosted their price objective on shares of SL Green Realty from $38.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Weiss Ratings raised shares of SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Scotiabank restated an “outperform” rating and set a $56.00 target price (up from $53.00) on shares of SL Green Realty in a research note on Tuesday, July 21st. Finally, Truist Financial lifted their target price on SL Green Realty from $44.00 to $46.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, SL Green Realty presently has a consensus rating of “Hold” and an average target price of $54.95.

About SL Green Realty

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.