Saba Capital Management L.P. Takes Position in SL Green Realty Corporation $SLG

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Triumph Capital Management bought a new stake in shares of SL Green Realty in the 3rd quarter worth approximately $45,000. Davis Capital Management bought a new position in SL Green Realty during the 1st quarter worth $46,000. Fourth Dimension Wealth LLC grew its stake in SL Green Realty by 45.5% during the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 500 shares during the last quarter. Hantz Financial Services Inc. increased its position in SL Green Realty by 30.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock worth $74,000 after buying an additional 378 shares during the period. Finally, Leonteq Securities AG increased its position in SL Green Realty by 4,194.0% in the first quarter. Leonteq Securities AG now owns 2,147 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 2,097 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SLG shares. LADENBURG THALM/SH SH raised their target price on SL Green Realty from $42.00 to $46.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Wall Street Zen upgraded shares of SL Green Realty from a “strong sell” rating to a “sell” rating in a research report on Saturday. Scotiabank reaffirmed an “outperform” rating and issued a $56.00 price objective (up from $53.00) on shares of SL Green Realty in a report on Tuesday, July 21st. Citigroup reiterated a “buy” rating and issued a $60.00 price objective (up from $45.00) on shares of SL Green Realty in a research report on Friday. Finally, BMO Capital Markets reissued an “outperform” rating and set a $60.00 target price (up from $52.00) on shares of SL Green Realty in a research note on Monday. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, SL Green Realty currently has a consensus rating of “Hold” and an average price target of $54.95.

SL Green Realty Stock Performance

Shares of SLG stock opened at $53.05 on Wednesday. SL Green Realty Corporation has a 12-month low of $34.77 and a 12-month high of $66.29. The company has a debt-to-equity ratio of 1.12, a current ratio of 3.10 and a quick ratio of 3.03. The firm 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 announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported ($0.38) earnings per share 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 firm had revenue of $171.85 million for the quarter, compared to the consensus estimate of $179.01 million. During the same quarter in the previous year, the business earned $1.63 EPS. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. SL Green Realty has set its FY 2026 guidance at 5.600-5.900 EPS. On average, equities research analysts anticipate that SL Green Realty Corporation will post 5.15 EPS for the current year.

SL Green Realty Dividend Announcement

The firm 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 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 (DPR) is -90.48%.

SL Green Realty Company 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.