173,100 Shares in SL Green Realty Corporation $SLG Purchased by Hazelview Securities Inc.

Hazelview Securities Inc. acquired a new position in shares of SL Green Realty Corporation (NYSE:SLG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 173,100 shares of the real estate investment trust’s stock, valued at approximately $10,682,000. SL Green Realty makes up about 1.9% of Hazelview Securities Inc.’s portfolio, making the stock its 21st largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in SLG. Balyasny Asset Management L.P. boosted its position in shares of SL Green Realty by 663.4% in the 2nd quarter. Balyasny Asset Management L.P. now owns 513,556 shares of the real estate investment trust’s stock worth $31,789,000 after purchasing an additional 446,283 shares in the last quarter. Bank of America Corp DE increased its position in SL Green Realty by 31.3% during the 2nd quarter. Bank of America Corp DE now owns 301,743 shares of the real estate investment trust’s stock valued at $18,678,000 after buying an additional 71,875 shares in the last quarter. Ameriprise Financial Inc. raised its stake in SL Green Realty by 2.5% during the second quarter. Ameriprise Financial Inc. now owns 308,322 shares of the real estate investment trust’s stock valued at $19,096,000 after buying an additional 7,465 shares during the last quarter. Lighthouse Investment Partners LLC boosted its holdings in SL Green Realty by 8.2% in the second quarter. Lighthouse Investment Partners LLC now owns 60,000 shares of the real estate investment trust’s stock worth $3,714,000 after acquiring an additional 4,538 shares in the last quarter. Finally, Clough Capital Partners L P bought a new stake in SL Green Realty in the second quarter worth $11,146,000. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. LADENBURG THALM/SH SH began coverage on SL Green Realty in a research report on Monday, October 13th. They issued a “neutral” rating and a $63.00 price target for the company. Piper Sandler restated an “overweight” rating on shares of SL Green Realty in a research note on Wednesday, December 3rd. Mizuho decreased their target price on shares of SL Green Realty from $67.00 to $47.00 and set a “neutral” rating for the company in a report on Friday. Scotiabank set a $66.00 price target on shares of SL Green Realty and gave the company a “sector outperform” rating in a report on Friday, October 24th. Finally, New Street Research set a $72.00 price target on shares of SL Green Realty in a research report on Thursday, October 9th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $58.65.

SL Green Realty Trading Down 0.4%

Shares of SLG stock opened at $44.59 on Friday. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.03. SL Green Realty Corporation has a 12-month low of $40.26 and a 12-month high of $76.49. The stock has a market capitalization of $3.18 billion, a P/E ratio of 4,463.46 and a beta of 1.61. The firm’s 50 day moving average is $49.66 and its 200 day moving average is $56.41.

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

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a $0.2575 dividend. This represents a c) annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend is Friday, November 28th. SL Green Realty’s dividend payout ratio (DPR) is presently 30,900.00%.

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.