Quest Partners LLC Boosts Stock Position in SL Green Realty Corp. (NYSE:SLG)

Quest Partners LLC grew its position in SL Green Realty Corp. (NYSE:SLG) by 350.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,691 shares of the real estate investment trust’s stock after buying an additional 2,094 shares during the quarter. Quest Partners LLC’s holdings in SL Green Realty were worth $187,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Rosenberg Matthew Hamilton lifted its holdings in shares of SL Green Realty by 6.6% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 144 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of SL Green Realty by 4.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock worth $262,000 after buying an additional 148 shares during the period. Xponance Inc. lifted its holdings in shares of SL Green Realty by 6.6% in the 2nd quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust’s stock worth $240,000 after buying an additional 262 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of SL Green Realty by 272.0% in the 3rd 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. Finally, Vert Asset Management LLC lifted its holdings in shares of SL Green Realty by 1.5% in the 3rd quarter. Vert Asset Management LLC now owns 26,909 shares of the real estate investment trust’s stock worth $1,873,000 after buying an additional 394 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Trading Up 0.9 %

Shares of SL Green Realty stock opened at $78.85 on Thursday. 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 Corp. has a 12-month low of $33.64 and a 12-month high of $82.81. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of -31.54, a PEG ratio of 2.08 and a beta of 1.82. The firm’s 50 day simple moving average is $74.38 and its two-hundred day simple moving average is $64.83.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (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 in the previous year, the company posted $1.27 EPS. Analysts predict that SL Green Realty Corp. will post 7.61 EPS for the current year.

SL Green Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 3.80%. SL Green Realty’s payout ratio is -120.00%.

Analyst Upgrades and Downgrades

SLG has been the subject of several research reports. Citigroup upgraded SL Green Realty from a “sell” rating to a “neutral” rating and upped their target price for the stock from $44.00 to $66.00 in a report on Friday, September 13th. The Goldman Sachs Group upped their price objective on SL Green Realty from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price objective 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. Compass Point set a $65.00 target price on shares of SL Green Realty and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group increased their price target on shares of SL Green Realty from $70.00 to $72.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, SL Green Realty currently has a consensus rating of “Hold” and an average price target of $66.00.

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.