Quantbot Technologies LP Sells 46,584 Shares of SL Green Realty Corp. (NYSE:SLG)

Quantbot Technologies LP lessened its holdings in SL Green Realty Corp. (NYSE:SLG) by 35.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 83,046 shares of the real estate investment trust’s stock after selling 46,584 shares during the period. Quantbot Technologies LP owned about 0.13% of SL Green Realty worth $4,578,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Deutsche Bank AG boosted its stake in shares of SL Green Realty by 2,563.6% during the 3rd quarter. Deutsche Bank AG now owns 1,999,279 shares of the real estate investment trust’s stock worth $74,573,000 after acquiring an additional 1,924,221 shares during the last quarter. Wellington Management Group LLP bought a new stake in SL Green Realty during the third quarter valued at about $38,666,000. Public Employees Retirement System of Ohio increased its position in SL Green Realty by 8.0% in the third quarter. Public Employees Retirement System of Ohio now owns 92,385 shares of the real estate investment trust’s stock worth $3,446,000 after buying an additional 6,864 shares in the last quarter. Arden Trust Co raised its stake in shares of SL Green Realty by 1.5% in the fourth quarter. Arden Trust Co now owns 23,935 shares of the real estate investment trust’s stock worth $1,081,000 after buying an additional 356 shares during the period. Finally, Green Alpha Advisors LLC lifted its position in shares of SL Green Realty by 13.7% during the 4th quarter. Green Alpha Advisors LLC now owns 44,676 shares of the real estate investment trust’s stock valued at $2,018,000 after buying an additional 5,392 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Price Performance

Shares of NYSE SLG traded up $0.84 during midday trading on Friday, reaching $61.72. 1,021,924 shares of the stock traded hands, compared to its average volume of 1,103,542. The company’s 50 day moving average is $54.14 and its 200 day moving average is $50.35. SL Green Realty Corp. has a one year low of $28.55 and a one year high of $63.06. The stock has a market capitalization of $4.06 billion, a PE ratio of -7.50, a P/E/G ratio of 1.06 and a beta of 1.83. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.96.

SL Green Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.25 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.86%. SL Green Realty’s payout ratio is currently -36.32%.

Analyst Ratings Changes

SLG has been the subject of several analyst reports. Morgan Stanley increased their target price on shares of SL Green Realty from $41.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Barclays upgraded shares of SL Green Realty from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $35.00 to $48.00 in a research report on Wednesday, March 27th. Evercore ISI upped their target price on shares of SL Green Realty from $47.00 to $49.00 and gave the stock an “underperform” rating in a report on Monday, July 1st. Scotiabank raised SL Green Realty from a “sector underperform” rating to a “sector perform” rating and raised their price target for the company from $43.00 to $53.00 in a report on Tuesday. Finally, BMO Capital Markets raised SL Green Realty from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $56.00 to $58.00 in a research note on Thursday, April 18th. Six analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.38.

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.