BNP Paribas Financial Markets Makes New $1.83 Million Investment in SL Green Realty Corp. (NYSE:SLG)

BNP Paribas Financial Markets acquired a new position in shares of SL Green Realty Corp. (NYSE:SLG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 26,977 shares of the real estate investment trust’s stock, valued at approximately $1,832,000.

Several other institutional investors have also made changes to their positions in SLG. Norges Bank acquired a new stake in shares of SL Green Realty during the 4th quarter valued at about $48,050,000. Northern Trust Corp lifted its holdings in shares of SL Green Realty by 79.9% during the 4th quarter. Northern Trust Corp now owns 1,429,636 shares of the real estate investment trust’s stock valued at $97,101,000 after buying an additional 634,788 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of SL Green Realty by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust’s stock valued at $735,594,000 after buying an additional 564,822 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of SL Green Realty by 30.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,493,208 shares of the real estate investment trust’s stock valued at $101,419,000 after buying an additional 347,608 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of SL Green Realty by 12.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust’s stock valued at $96,990,000 after buying an additional 159,870 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Price Performance

SL Green Realty stock opened at $58.84 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. The firm has a market cap of $4.20 billion, a P/E ratio of 735.53, a P/E/G ratio of 5.30 and a beta of 1.59. The business’s fifty day moving average is $54.84 and its two-hundred day moving average is $64.32. SL Green Realty Corp. has a 52 week low of $45.15 and a 52 week high of $82.81.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.13. The company had revenue of $144.52 million for the quarter, compared to analyst estimates of $158.44 million. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. Equities research analysts forecast that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were paid a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Wednesday, April 30th. SL Green Realty’s dividend payout ratio (DPR) is presently -735.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America reduced their price target on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Truist Financial cut their price objective on SL Green Realty from $62.00 to $54.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Evercore ISI raised SL Green Realty from an “in-line” rating to an “outperform” rating and cut their price objective for the company from $74.00 to $73.00 in a research note on Monday, March 17th. Barclays cut their price objective on SL Green Realty from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group started coverage on SL Green Realty in a research note on Monday, March 17th. They issued a “hold” rating and a $58.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $67.07.

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.