15,085 Shares in SL Green Realty Corp. (NYSE:SLG) Bought by Oddo BHF Asset Management Sas

Oddo BHF Asset Management Sas purchased a new stake in shares of SL Green Realty Corp. (NYSE:SLG) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,085 shares of the real estate investment trust’s stock, valued at approximately $1,050,000.

A number of other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP grew its position in shares of SL Green Realty by 50.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock worth $202,777,000 after buying an additional 977,321 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in SL Green Realty by 396.3% in 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 valued at $31,058,000 after purchasing an additional 356,275 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in SL Green Realty in the third quarter valued at $18,811,000. Charles Schwab Investment Management Inc. boosted its position in shares of SL Green Realty by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock worth $88,275,000 after purchasing an additional 97,653 shares in the last quarter. Finally, Lighthouse Investment Partners LLC grew its stake in shares of SL Green Realty by 150.0% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 150,000 shares of the real estate investment trust’s stock valued at $8,496,000 after buying an additional 90,000 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Stock Performance

Shares of SLG opened at $74.63 on Friday. The stock has a 50 day moving average of $75.60 and a 200 day moving average of $66.64. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of -29.85, a PEG ratio of 3.49 and a beta of 1.81. SL Green Realty Corp. has a 12 month low of $41.81 and a 12 month high of $82.81. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($1.42). The business had revenue of $229.69 million for the quarter, compared to analysts’ expectations of $136.66 million. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. During the same period in the prior year, the business earned $1.27 earnings per share. As a group, sell-side analysts forecast that SL Green Realty Corp. will post 7.84 earnings per share for the current year.

SL Green Realty Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.2575 dividend. This represents a $3.09 dividend on an annualized basis and a yield of 4.14%. This is a boost from SL Green Realty’s previous monthly dividend of $0.25. The ex-dividend date is Tuesday, December 31st. SL Green Realty’s payout ratio is presently -120.00%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SLG shares. Barclays upped their price target on SL Green Realty from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Scotiabank increased their target price on SL Green Realty from $80.00 to $81.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. Wells Fargo & Company upped their price objective on shares of SL Green Realty from $43.00 to $63.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. Finally, Compass Point upped their target price on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $68.67.

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.