Harvest Fund Management Co. Ltd Buys Shares of 8,871 SL Green Realty Corp. (NYSE:SLG)

Harvest Fund Management Co. Ltd acquired a new position in shares of SL Green Realty Corp. (NYSE:SLG) in the 3rd quarter, Holdings Channel reports. The fund acquired 8,871 shares of the real estate investment trust’s stock, valued at approximately $617,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its position in shares of SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 272 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of SL Green Realty during the second quarter worth about $29,000. Friedenthal Financial acquired a new position in shares of SL Green Realty during the third quarter worth about $49,000. Rothschild Investment LLC acquired a new position in shares of SL Green Realty during the second quarter worth about $55,000. Finally, Blue Trust Inc. boosted its position in shares of SL Green Realty by 363.2% during the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 632 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on SLG shares. Piper Sandler reaffirmed an “overweight” rating and set a $90.00 price objective (up from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Morgan Stanley increased their price target on SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Jefferies Financial Group increased their price target on SL Green Realty from $70.00 to $72.00 and gave the company a “hold” rating in a research report on Friday. Compass Point set a $65.00 price target on SL Green Realty and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company increased their price target on SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $66.00.

SL Green Realty Price Performance

NYSE:SLG opened at $78.99 on Tuesday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average price is $74.06 and its two-hundred day moving average price is $64.55. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of -31.60, a P/E/G ratio of 2.10 and a beta of 1.82. SL Green Realty Corp. has a 12-month low of $32.78 and a 12-month high of $82.81.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $1.27 EPS. On average, analysts anticipate that SL Green Realty Corp. will post 7.6 earnings per share for the current year.

SL Green Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.80%. SL Green Realty’s dividend payout ratio (DPR) is currently -120.00%.

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.