SL Green Realty Corporation $SLG Position Boosted by Squarepoint Ops LLC

Squarepoint Ops LLC raised its holdings in shares of SL Green Realty Corporation (NYSE:SLG) by 66.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 182,962 shares of the real estate investment trust’s stock after buying an additional 73,042 shares during the period. Squarepoint Ops LLC owned about 0.26% of SL Green Realty worth $9,472,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of SL Green Realty by 15,825.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 480,634 shares of the real estate investment trust’s stock valued at $24,882,000 after acquiring an additional 477,616 shares during the period. Jupiter Topco LLC acquired a new position in SL Green Realty in the 2nd quarter worth approximately $1,556,000. Clear Harbor Asset Management LLC acquired a new position in SL Green Realty in the 2nd quarter worth approximately $2,043,000. Royal Bank of Canada grew its position in SL Green Realty by 903.3% during the 1st quarter. Royal Bank of Canada now owns 142,614 shares of the real estate investment trust’s stock worth $5,268,000 after purchasing an additional 128,400 shares in the last quarter. Finally, Advisors Capital Management LLC acquired a new stake in SL Green Realty during the 2nd quarter valued at $962,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Trading Down 1.6%

NYSE SLG opened at $51.61 on Friday. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 1.05. SL Green Realty Corporation has a 1-year low of $34.77 and a 1-year high of $66.29. The firm’s fifty day simple moving average is $54.11 and its 200-day simple moving average is $46.81. The company has a market capitalization of $3.67 billion, a PE ratio of -18.90, a price-to-earnings-growth ratio of 2.25 and a beta of 1.60.

SL Green Realty (NYSE:SLG) last issued its earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.21. SL Green Realty had a negative return on equity of 4.37% and a negative net margin of 16.92%.The firm had revenue of $264.00 million for the quarter, compared to the consensus estimate of $179.01 million. During the same quarter in the previous year, the company posted $1.63 earnings per share. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that SL Green Realty Corporation will post 5.56 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.6175 per share. This represents a $2.47 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Tuesday, June 30th. SL Green Realty’s payout ratio is currently -90.48%.

Wall Street Analysts Forecast Growth

SLG has been the topic of a number of research analyst reports. Wall Street Zen upgraded SL Green Realty from a “strong sell” rating to a “sell” rating in a report on Saturday, September 5th. Morgan Stanley set a $52.00 price objective on SL Green Realty and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. raised their price objective on SL Green Realty from $51.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 25th. Evercore cut SL Green Realty from an “outperform” rating to an “in-line” rating and set a $56.00 target price on the stock. in a research note on Monday, July 6th. Finally, Citigroup reiterated a “buy” rating and issued a $60.00 target price (up from $45.00) on shares of SL Green Realty in a report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, SL Green Realty currently has a consensus rating of “Hold” and an average target price of $57.27.

Insider Activity at SL Green Realty

In related news, insider Harrison Sitomer sold 23,113 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $57.71, for a total value of $1,333,851.23. Following the transaction, the insider owned 109,468 shares in the company, valued at approximately $6,317,398.28. This represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.94% of the company’s stock.

SL Green Realty Profile

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.