Candriam S.C.A. Invests $7.13 Million in SL Green Realty Corp. (NYSE:SLG)

Candriam S.C.A. purchased a new stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 104,914 shares of the real estate investment trust's stock, valued at approximately $7,126,000. Candriam S.C.A. owned about 0.16% of SL Green Realty at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SLG. Wellington Management Group LLP lifted its position in shares of SL Green Realty by 50.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust's stock valued at $202,777,000 after buying an additional 977,321 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of SL Green Realty by 396.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,170 shares of the real estate investment trust's stock valued at $31,058,000 after buying an additional 356,275 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of SL Green Realty during the 3rd quarter valued at $18,811,000. Charles Schwab Investment Management Inc. lifted its position in shares of SL Green Realty by 12.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust's stock valued at $96,990,000 after buying an additional 159,870 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of SL Green Realty during the 4th quarter valued at $7,705,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

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SL Green Realty Price Performance

Shares of SL Green Realty stock traded down $2.01 during trading on Tuesday, hitting $57.59. 1,242,662 shares of the stock traded hands, compared to its average volume of 850,664. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 719.91, a PEG ratio of 5.30 and a beta of 1.82. The firm's fifty day moving average is $64.89 and its 200-day moving average is $69.63. SL Green Realty Corp. has a 52 week low of $47.22 and a 52 week high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings data 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 negative return on equity of 0.10% and a net margin of 2.48%. Research analysts expect that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $0.2575 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.09 annualized dividend and a yield of 5.37%. SL Green Realty's payout ratio is 3,862.50%.

Insider Buying and Selling

In related news, Director Craig M. Hatkoff sold 3,455 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.30, for a total transaction of $229,066.50. Following the transaction, the director now directly owns 2,052 shares in the company, valued at $136,047.60. This trade represents a 62.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on SLG shares. Wells Fargo & Company dropped their price objective on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating on the stock in a report on Monday, February 3rd. Mizuho increased their price objective on SL Green Realty from $45.00 to $67.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Truist Financial increased their price objective on SL Green Realty from $61.00 to $62.00 and gave the stock a "hold" rating in a report on Monday, January 27th. Barclays dropped their price objective on SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. raised SL Green Realty from an "underweight" rating to a "neutral" rating and raised their price target for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, SL Green Realty presently has an average rating of "Hold" and a consensus price target of $70.67.

SL Green Realty Company 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.