Traders Purchase Large Volume of SL Green Realty Put Options (NYSE:SLG)

SL Green Realty Corp. (NYSE:SLG – Get Rating) was the target of some unusual options trading on Friday. Stock investors bought 44,481 put options on the stock. This represents an increase of 1,555% compared to the average volume of 2,688 put options.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 9,000 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $34.31, for a total transaction of $308,790.00. Following the sale, the director now directly owns 2,052 shares in the company, valued at approximately $70,404.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.21% of the company’s stock.

Institutional Investors Weigh In On SL Green Realty

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of SL Green Realty by 0.3% in the third quarter. Vanguard Group Inc. now owns 9,363,094 shares of the real estate investment trust’s stock worth $376,022,000 after purchasing an additional 32,617 shares during the last quarter. State Street Corp increased its holdings in shares of SL Green Realty by 12.2% in the first quarter. State Street Corp now owns 3,857,153 shares of the real estate investment trust’s stock worth $314,295,000 after purchasing an additional 419,067 shares during the last quarter. Confluence Investment Management LLC grew its position in SL Green Realty by 0.6% in the third quarter. Confluence Investment Management LLC now owns 2,092,665 shares of the real estate investment trust’s stock worth $84,041,000 after acquiring an additional 13,511 shares in the last quarter. DAVENPORT & Co LLC grew its position in SL Green Realty by 53.2% in the third quarter. DAVENPORT & Co LLC now owns 1,941,644 shares of the real estate investment trust’s stock worth $77,976,000 after acquiring an additional 674,516 shares in the last quarter. Finally, Marshall Wace LLP grew its position in SL Green Realty by 17.0% in the fourth quarter. Marshall Wace LLP now owns 1,527,786 shares of the real estate investment trust’s stock worth $51,517,000 after acquiring an additional 221,907 shares in the last quarter. 82.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on SLG. Morgan Stanley dropped their price target on SL Green Realty from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 9th. Deutsche Bank Aktiengesellschaft downgraded SL Green Realty from a “buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a research note on Wednesday, January 4th. StockNews.com began coverage on SL Green Realty in a research note on Thursday. They issued a “sell” rating on the stock. Wells Fargo & Company dropped their price target on SL Green Realty from $36.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Barclays decreased their target price on SL Green Realty from $88.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, December 7th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $46.31.

SL Green Realty Price Performance

NYSE:SLG opened at $23.57 on Friday. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 1.20. The business’s 50-day simple moving average is $36.16 and its two-hundred day simple moving average is $38.25. The stock has a market cap of $1.52 billion, a PE ratio of -15.82 and a beta of 1.52. SL Green Realty has a 52 week low of $23.15 and a 52 week high of $83.96.

SL Green Realty (NYSE:SLG – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The real estate investment trust reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($2.49). The business had revenue of $197.29 million for the quarter, compared to the consensus estimate of $194.74 million. SL Green Realty had a negative net margin of 9.44% and a negative return on equity of 1.62%. SL Green Realty’s revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 earnings per share. As a group, analysts forecast that SL Green Realty will post 5.48 EPS for the current fiscal year.

SL Green Realty Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were issued a $0.2708 dividend. The ex-dividend date was Monday, February 27th. This represents a $3.25 annualized dividend and a dividend yield of 13.79%. SL Green Realty’s dividend payout ratio (DPR) is -218.12%.

SL Green Realty Company 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.