Valueworks LLC Acquires Shares of 195,000 SL Green Realty Corporation $SLG

Valueworks LLC acquired a new position in shares of SL Green Realty Corporation (NYSE:SLG) in the second quarter, HoldingsChannel.com reports. The fund acquired 195,000 shares of the real estate investment trust’s stock, valued at approximately $10,095,000. SL Green Realty makes up about 2.1% of Valueworks LLC’s holdings, making the stock its 20th largest position.

Other hedge funds also recently made changes to their positions in the company. Triumph Capital Management acquired a new position in shares of SL Green Realty during the third quarter worth about $45,000. Davis Capital Management acquired a new stake in SL Green Realty in the first quarter valued at about $46,000. Global Retirement Partners LLC acquired a new stake in SL Green Realty in the second quarter valued at about $53,000. Fourth Dimension Wealth LLC boosted its holdings in SL Green Realty by 45.5% in the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 500 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in SL Green Realty by 30.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 378 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Buying and Selling

In other SL Green Realty news, insider Harrison Sitomer sold 23,113 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $57.71, for a total transaction of $1,333,851.23. Following the sale, the insider directly owned 109,468 shares in the company, valued at approximately $6,317,398.28. The trade was a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SLG. Piper Sandler set a $79.00 target price on SL Green Realty and gave the stock an “overweight” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. lifted their price target on SL Green Realty from $51.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday. Barclays set a $52.00 price objective on SL Green Realty and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. UBS Group set a $60.00 price objective on SL Green Realty in a research report on Monday, July 27th. Finally, Wall Street Zen downgraded SL Green Realty from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $56.20.

SL Green Realty Trading Down 1.4%

Shares of SL Green Realty stock opened at $57.87 on Friday. The company has a 50-day moving average of $53.43 and a two-hundred day moving average of $45.79. SL Green Realty Corporation has a 12-month low of $34.77 and a 12-month high of $66.29. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 1.05. The stock has a market cap of $4.12 billion, a PE ratio of -21.20, a price-to-earnings-growth ratio of 2.58 and a beta of 1.58.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.21. The business had revenue of $264.00 million for the quarter, compared to analyst estimates of $179.01 million. SL Green Realty had a negative return on equity of 4.37% and a negative net margin of 16.92%.The company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.63 EPS. On average, research analysts anticipate that SL Green Realty Corporation will post 5.44 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.6175 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.47 annualized dividend and a yield of 4.3%. SL Green Realty’s payout ratio is currently -90.48%.

About SL Green Realty

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.