Penserra Capital Management LLC Boosts Stake in SL Green Realty Corp. (NYSE:SLG)

Posted by Defense World Staff on Feb 27th, 2023

Penserra Capital Management LLC increased its position in SL Green Realty Corp. (NYSE:SLG – Get Rating) by 10.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,274 shares of the real estate investment trust’s stock after buying an additional 500 shares during the period. Penserra Capital Management LLC’s holdings in SL Green Realty were worth $211,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of SL Green Realty by 244.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 53,562 shares of the real estate investment trust’s stock worth $2,151,000 after buying an additional 38,029 shares in the last quarter. Waterfront Capital Partners LLC purchased a new stake in shares of SL Green Realty in the third quarter worth about $15,486,000. FORA Capital LLC purchased a new stake in shares of SL Green Realty in the third quarter worth about $362,000. Eisler Capital UK Ltd. purchased a new stake in SL Green Realty during the third quarter valued at approximately $240,000. Finally, HGI Capital Management LLC raised its position in SL Green Realty by 337.1% during the third quarter. HGI Capital Management LLC now owns 276,801 shares of the real estate investment trust’s stock valued at $11,116,000 after purchasing an additional 213,473 shares during the period. 82.00% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Trading Down 0.9 %

Shares of NYSE:SLG opened at $35.68 on Monday. SL Green Realty Corp. has a 52-week low of $32.15 and a 52-week high of $83.96. The business’s 50 day moving average is $36.96 and its 200 day moving average is $39.93. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.64 and a quick ratio of 2.64.

SL Green Realty (NYSE:SLG – Get Rating) last posted its earnings results on Wednesday, January 25th. The real estate investment trust reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($2.49). The company had revenue of $197.29 million for the quarter, compared to analysts’ expectations of $194.74 million. SL Green Realty had a negative return on equity of 1.62% and a negative net margin of 9.44%. The firm’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 EPS. Sell-side analysts predict that SL Green Realty Corp. will post 5.49 EPS for the current fiscal year.

SL Green Realty Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th will be issued a dividend of $0.2708 per share. The ex-dividend date is Monday, February 27th. This represents a $3.25 dividend on an annualized basis and a yield of 9.11%. SL Green Realty’s dividend payout ratio is currently -218.12%.

Analysts Set New Price Targets

SLG has been the topic of a number of recent research reports. BMO Capital Markets downgraded SL Green Realty from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $47.00 to $41.00 in a research report on Tuesday, December 6th. Citigroup upped their price objective on SL Green Realty from $30.00 to $35.00 and gave the company a “sell” rating in a research report on Wednesday, February 8th. Barclays decreased their price objective on SL Green Realty from $88.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 7th. Robert W. Baird upped their price objective on SL Green Realty from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday, January 30th. Finally, Mizuho cut their target price on SL Green Realty from $48.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 4th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, SL Green Realty has an average rating of “Hold” and an average price target of $47.13.

SL Green Realty Profile

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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.