Waterloo Capital L.P. Buys 2,079 Shares of SL Green Realty Corp. (NYSE:SLG)

Waterloo Capital L.P. raised its stake in SL Green Realty Corp. (NYSE:SLG) by 10.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,105 shares of the real estate investment trust’s stock after acquiring an additional 2,079 shares during the period. Waterloo Capital L.P.’s holdings in SL Green Realty were worth $1,433,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Point72 DIFC Ltd bought a new stake in SL Green Realty in the third quarter worth $35,000. Jones Financial Companies Lllp bought a new stake in shares of SL Green Realty in the 4th quarter worth about $39,000. Quadrant Capital Group LLC raised its position in shares of SL Green Realty by 37.4% during the 4th quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 208 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of SL Green Realty by 17.7% in the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 157 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in SL Green Realty in the fourth quarter worth about $88,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Insider Buying and Selling

In other news, Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $66.30, for a total value of $229,066.50. Following the transaction, the director now owns 2,052 shares of the company’s stock, valued at $136,047.60. The trade was a 62.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SLG has been the topic of a number of recent research reports. Bank of America decreased their price objective on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $51.00 to $80.00 in a research report on Tuesday, December 10th. Compass Point boosted their price objective on shares of SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Truist Financial raised their target price on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, January 27th. Finally, Morgan Stanley upped their price target on shares of SL Green Realty from $52.00 to $55.00 and gave the company an “equal weight” rating in a report on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $69.87.

SL Green Realty Stock Performance

Shares of SL Green Realty stock opened at $50.59 on Monday. SL Green Realty Corp. has a 12 month low of $47.22 and a 12 month high of $82.81. The stock’s fifty day moving average price is $61.66 and its 200-day moving average price is $68.39. The firm has a market cap of $3.61 billion, a P/E ratio of 632.38, a P/E/G ratio of 5.30 and a beta of 1.61. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, beating the consensus estimate of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. On average, equities research analysts expect that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 2.04%. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. SL Green Realty’s payout ratio is presently 3,862.50%.

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.