Aster Capital Management DIFC Ltd Invests $386,000 in SL Green Realty Corp. (NYSE:SLG)

Aster Capital Management DIFC Ltd purchased a new stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,680 shares of the real estate investment trust's stock, valued at approximately $386,000.

Several other institutional investors also recently bought and sold shares of the business. Wolverine Asset Management LLC acquired a new position in shares of SL Green Realty during the 4th quarter valued at $337,000. Charles Schwab Investment Management Inc. boosted its position in shares of SL Green Realty by 12.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust's stock worth $96,990,000 after buying an additional 159,870 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of SL Green Realty by 8.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust's stock valued at $5,187,000 after buying an additional 6,158 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of SL Green Realty by 10.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust's stock valued at $6,870,000 after buying an additional 9,753 shares during the period. Finally, FMR LLC grew its position in SL Green Realty by 69.1% in 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 in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on SLG. Morgan Stanley upped their price objective on shares of SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 12th. Evercore ISI upgraded SL Green Realty from an "in-line" rating to an "outperform" rating and lowered their price objective for the company from $74.00 to $73.00 in a research note on Monday, March 17th. Scotiabank cut their target price on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Friday, February 28th. Truist Financial upped their price target on shares of SL Green Realty from $61.00 to $62.00 and gave the company a "hold" rating in a report on Monday, January 27th. Finally, Mizuho raised their price objective 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. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, SL Green Realty has an average rating of "Hold" and an average price target of $69.87.

SL Green Realty Stock Performance

SLG traded up $0.45 during trading on Friday, reaching $49.69. 1,239,512 shares of the company were exchanged, compared to its average volume of 864,700. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The stock has a market cap of $3.54 billion, a P/E ratio of 621.06, a PEG ratio of 5.30 and a beta of 1.61. SL Green Realty Corp. has a 52 week low of $45.15 and a 52 week high of $82.81. The firm has a 50 day moving average of $59.43 and a 200 day moving average of $67.38.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. On average, sell-side analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.2575 per share. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from SL Green Realty's previous quarterly dividend of $0.25. This represents a $1.03 annualized dividend and a dividend yield of 2.07%. SL Green Realty's payout ratio is currently 3,862.50%.

Insider Buying and Selling

In other news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction on Friday, January 24th. The stock was 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 owns 2,052 shares of the company's stock, valued at approximately $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 5.08% of the company's stock.

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.