Caprock Group LLC Makes New $319,000 Investment in SL Green Realty Corp. (NYSE:SLG)

Caprock Group LLC acquired 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 filing with the Securities and Exchange Commission (SEC). The fund acquired 4,675 shares of the real estate investment trust's stock, valued at approximately $319,000.

Other hedge funds have also bought and sold shares of the company. FMR LLC increased its position in SL Green Realty by 69.1% during the third quarter. FMR LLC now owns 58,185 shares of the real estate investment trust's stock valued at $4,050,000 after acquiring an additional 23,780 shares during the last quarter. Weiss Asset Management LP bought a new position in shares of SL Green Realty in the third quarter worth about $771,000. Citigroup Inc. grew its holdings in shares of SL Green Realty by 54.6% in the third quarter. Citigroup Inc. now owns 85,587 shares of the real estate investment trust's stock worth $5,958,000 after purchasing an additional 30,220 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of SL Green Realty by 23.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 65,933 shares of the real estate investment trust's stock worth $4,478,000 after purchasing an additional 12,424 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in shares of SL Green Realty in the third quarter worth about $876,000. Institutional investors own 89.96% of the company's stock.

SL Green Realty Stock Performance

Shares of NYSE SLG traded down $0.80 during mid-day trading on Friday, hitting $65.97. The stock had a trading volume of 511,239 shares, compared to its average volume of 780,111. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 3.21. The company has a 50 day moving average of $68.24 and a two-hundred day moving average of $69.56. SL Green Realty Corp. has a twelve month low of $42.10 and a twelve month high of $82.81. The firm has a market cap of $4.35 billion, a PE ratio of 824.59, a PEG ratio of 5.49 and a beta of 1.82.

SL Green Realty (NYSE:SLG - Get Free Report) last released its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (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 predict that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.2575 per share. The ex-dividend date is Friday, January 31st. This represents a $3.09 dividend on an annualized basis and a dividend yield of 4.68%. SL Green Realty's payout ratio is currently 3,862.50%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SLG shares. Evercore ISI upped their price target on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an "in-line" rating in a report on Monday, October 21st. Mizuho upped their price target on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Jefferies Financial Group lowered their price objective on shares of SL Green Realty from $75.00 to $69.00 and set a "hold" rating for the company in a research note on Thursday, January 2nd. Bank of America lowered their price objective on shares of SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $87.00 price objective (up from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $71.07.

Insider Buying and Selling at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the business's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of the transaction, the director now directly owns 2,052 shares in the company, valued at $136,047.60. The trade was a 62.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.08% of the stock is currently owned by corporate insiders.

SL Green Realty 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.