PEAK6 LLC Invests $3.64 Million in SL Green Realty Corporation $SLG

PEAK6 LLC acquired a new position in SL Green Realty Corporation (NYSE:SLG) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 70,293 shares of the real estate investment trust’s stock, valued at approximately $3,639,000.

Several other hedge funds have also recently added to or reduced their stakes in SLG. Triumph Capital Management purchased a new stake in shares of SL Green Realty in the third quarter valued at about $45,000. Davis Capital Management acquired a new stake in SL Green Realty during the 1st quarter valued at $46,000. Global Retirement Partners LLC purchased a new position in SL Green Realty during the second quarter worth $53,000. Fourth Dimension Wealth LLC raised its holdings in shares of SL Green Realty by 45.5% in the fourth quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 500 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its stake 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 during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on SLG shares. Mizuho upped their target price on shares of SL Green Realty from $38.00 to $46.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. boosted their price objective on shares of SL Green Realty from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Wells Fargo & Company upped their price objective on shares of SL Green Realty from $40.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Evercore lowered shares of SL Green Realty from an “outperform” rating to an “in-line” rating and set a $56.00 target price on the stock. in a research report on Monday, July 6th. Finally, Morgan Stanley set a $52.00 price target on SL Green Realty and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $55.15.

SL Green Realty Price Performance

SL Green Realty stock opened at $57.55 on Monday. SL Green Realty Corporation has a 1 year low of $34.77 and a 1 year high of $66.29. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.10 and a current ratio of 3.10. The firm has a 50 day moving average price of $52.76 and a 200 day moving average price of $45.34. The company has a market cap of $4.09 billion, a price-to-earnings ratio of -21.08, a PEG ratio of 2.52 and a beta of 1.58.

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

SL Green Realty Announces Dividend

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