XTX Topco Ltd Makes New Investment in SL Green Realty Corp. (NYSE:SLG)

XTX Topco Ltd acquired a new stake in SL Green Realty Corp. (NYSE:SLG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,008 shares of the real estate investment trust’s stock, valued at approximately $1,880,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP increased its position in SL Green Realty by 50.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock valued at $202,777,000 after acquiring an additional 977,321 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of SL Green Realty by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock valued at $88,275,000 after purchasing an additional 97,653 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of SL Green Realty by 9.7% in the second quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust’s stock valued at $56,350,000 after purchasing an additional 88,309 shares during the period. Bank of New York Mellon Corp raised its stake in shares of SL Green Realty by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 810,490 shares of the real estate investment trust’s stock worth $45,906,000 after purchasing an additional 14,167 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of SL Green Realty by 396.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,170 shares of the real estate investment trust’s stock worth $31,058,000 after purchasing an additional 356,275 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SLG has been the subject of a number of analyst reports. Piper Sandler restated an “overweight” rating and set a $90.00 price objective (up previously from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Citigroup raised shares of SL Green Realty from a “sell” rating to a “neutral” rating and increased their price target for the stock from $44.00 to $66.00 in a report on Friday, September 13th. Bank of America lifted their price objective on SL Green Realty from $59.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Morgan Stanley increased their target price on SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company lifted their price target on SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $66.00.

SL Green Realty Trading Up 2.0 %

Shares of SLG opened at $75.16 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. The firm has a 50 day simple moving average of $75.04 and a 200-day simple moving average of $65.92. SL Green Realty Corp. has a 1-year low of $40.30 and a 1-year high of $82.81. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of -30.06, a price-to-earnings-growth ratio of 3.64 and a beta of 1.81.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. The company had revenue of $229.69 million for the quarter, compared to analyst estimates of $136.66 million. During the same quarter last year, the company posted $1.27 EPS. Equities analysts forecast that SL Green Realty Corp. will post 7.59 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.2575 per share. This represents a $3.09 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Tuesday, December 31st. This is a boost from SL Green Realty’s previous monthly dividend of $0.25. SL Green Realty’s dividend payout ratio (DPR) is currently -123.60%.

SL Green Realty Company 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.