Quantinno Capital Management LP Purchases 24,963 Shares of SL Green Realty Corporation $SLG

Quantinno Capital Management LP raised its position in shares of SL Green Realty Corporation (NYSE:SLG) by 24.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 126,994 shares of the real estate investment trust’s stock after buying an additional 24,963 shares during the quarter. Quantinno Capital Management LP owned about 0.18% of SL Green Realty worth $4,691,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLG. Saba Capital Management L.P. purchased a new position in SL Green Realty during the 1st quarter valued at about $665,000. SummitTX Capital L.P. purchased a new stake in SL Green Realty in the first quarter worth about $723,000. Caxton Associates LLP bought a new position in shares of SL Green Realty during the first quarter valued at approximately $365,000. Inceptionr LLC purchased a new position in shares of SL Green Realty during the first quarter valued at approximately $509,000. Finally, Bank of Nova Scotia purchased a new position in shares of SL Green Realty during the first quarter valued at approximately $369,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Price Performance

NYSE SLG opened at $54.58 on Friday. SL Green Realty Corporation has a one year low of $34.77 and a one year high of $66.29. The stock has a 50-day moving average of $50.85 and a 200 day moving average of $44.47. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -19.99, a PEG ratio of 2.45 and a beta of 1.58. The company has a debt-to-equity ratio of 1.12, a quick ratio of 3.03 and a current ratio of 3.10.

SL Green Realty (NYSE:SLG) last posted its earnings results on Thursday, July 23rd. 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. The business had revenue of $264.00 million for the quarter, compared to analysts’ expectations of $179.01 million. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.43%. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 EPS. On average, sell-side analysts forecast that SL Green Realty Corporation will post 5.35 EPS for the current year.

SL Green Realty Dividend Announcement

The business also recently disclosed 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 4.5%. The ex-dividend date of this dividend was Tuesday, June 30th. SL Green Realty’s payout ratio is presently -90.48%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SLG shares. Piper Sandler set a $79.00 price target on SL Green Realty and gave the stock an “overweight” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. lifted their price objective on SL Green Realty from $49.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Weiss Ratings raised SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Scotiabank lifted their price target on SL Green Realty from $56.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Wednesday. Finally, UBS Group set a $60.00 price target on shares of SL Green Realty in a research note on Monday, July 27th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $55.15.

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.