Edgestream Partners L.P. Purchases 35,178 Shares of SL Green Realty Corp. (NYSE:SLG)

Edgestream Partners L.P. lifted its position in shares of SL Green Realty Corp. (NYSE:SLG) by 40.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 122,880 shares of the real estate investment trust’s stock after purchasing an additional 35,178 shares during the period. Edgestream Partners L.P. owned 0.19% of SL Green Realty worth $6,960,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SLG. International Assets Investment Management LLC increased its position in SL Green Realty by 8,523.6% during the 4th quarter. International Assets Investment Management LLC now owns 9,486 shares of the real estate investment trust’s stock worth $428,000 after buying an additional 9,376 shares during the period. Victory Capital Management Inc. increased its position in SL Green Realty by 3.6% during the fourth quarter. Victory Capital Management Inc. now owns 24,223 shares of the real estate investment trust’s stock worth $1,094,000 after acquiring an additional 851 shares during the period. Independent Advisor Alliance acquired a new stake in SL Green Realty in the 4th quarter worth about $1,036,000. Norges Bank bought a new stake in SL Green Realty in the 4th quarter valued at about $18,664,000. Finally, US Bancorp DE grew its position in shares of SL Green Realty by 7.5% during the 4th quarter. US Bancorp DE now owns 23,712 shares of the real estate investment trust’s stock worth $1,071,000 after purchasing an additional 1,661 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLG has been the subject of a number of analyst reports. Truist Financial lifted their price target on shares of SL Green Realty from $47.00 to $55.00 and gave the company a “hold” rating in a research report on Friday, July 19th. StockNews.com upgraded SL Green Realty to a “sell” rating in a research report on Friday, July 19th. Evercore ISI upgraded SL Green Realty from an “underperform” rating to an “inline” rating and raised their price target for the stock from $55.00 to $66.00 in a research report on Monday. Scotiabank upped their price objective on shares of SL Green Realty from $53.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 7th. Finally, Barclays increased their price objective on shares of SL Green Realty from $49.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $57.29.

SL Green Realty Price Performance

Shares of NYSE:SLG opened at $70.69 on Tuesday. The firm has a 50 day simple moving average of $63.79 and a 200 day simple moving average of $56.57. The company has a market cap of $4.66 billion, a price-to-earnings ratio of -8.56, a PEG ratio of 2.15 and a beta of 1.83. SL Green Realty Corp. has a one year low of $28.55 and a one year high of $71.31. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.59 and a quick ratio of 2.59.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.09. The company had revenue of $222.82 million during the quarter, compared to analysts’ expectations of $133.83 million. SL Green Realty had a negative return on equity of 3.92% and a negative net margin of 19.31%. SL Green Realty’s revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.43 EPS. Research analysts predict that SL Green Realty Corp. will post 7.58 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend was Friday, August 30th. SL Green Realty’s payout ratio is -36.32%.

SL Green Realty Profile

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.