SL Green Realty Corp. (NYSE:SLG) Shares Acquired by abrdn plc

abrdn plc grew its position in SL Green Realty Corp. (NYSE:SLG - Free Report) by 71.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,137 shares of the real estate investment trust's stock after acquiring an additional 9,246 shares during the quarter. abrdn plc's holdings in SL Green Realty were worth $1,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in SLG. AQR Capital Management LLC increased its stake in SL Green Realty by 5.4% in the 2nd quarter. AQR Capital Management LLC now owns 11,062 shares of the real estate investment trust's stock worth $621,000 after acquiring an additional 569 shares during the last quarter. Cetera Investment Advisers increased its stake in SL Green Realty by 204.4% in the 2nd quarter. Cetera Investment Advisers now owns 16,959 shares of the real estate investment trust's stock worth $961,000 after acquiring an additional 11,387 shares during the last quarter. Vert Asset Management LLC increased its stake in SL Green Realty by 1.5% in the 3rd quarter. Vert Asset Management LLC now owns 26,909 shares of the real estate investment trust's stock worth $1,873,000 after acquiring an additional 394 shares during the last quarter. Blue Trust Inc. increased its stake in SL Green Realty by 363.2% in the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust's stock worth $56,000 after acquiring an additional 632 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in SL Green Realty in the 3rd quarter worth approximately $49,000. Institutional investors own 89.96% of the company's stock.

Insider Activity at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $136,047.60. This represents a 62.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 5.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SLG shares. Scotiabank boosted their target price on SL Green Realty from $80.00 to $81.00 and gave the company a "sector perform" rating in a research report on Tuesday, December 10th. Bank of America cut their target price on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Mizuho boosted their target price on SL Green Realty from $45.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. raised SL Green Realty from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $51.00 to $80.00 in a research report on Tuesday, December 10th. Finally, Barclays cut their target price on SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $71.07.

SL Green Realty Stock Up 0.2 %

Shares of SLG stock traded up $0.13 during mid-day trading on Friday, hitting $64.61. The stock had a trading volume of 452,425 shares, compared to its average volume of 783,304. SL Green Realty Corp. has a 12-month low of $43.69 and a 12-month high of $82.81. The firm has a market capitalization of $4.26 billion, a P/E ratio of 807.56, a price-to-earnings-growth ratio of 5.49 and a beta of 1.82. The firm's 50-day moving average is $67.44 and its two-hundred day moving average is $69.55. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.21 and a quick ratio of 2.58.

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

SL Green Realty Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be given a $0.2575 dividend. This represents a $3.09 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend is Friday, January 31st. SL Green Realty's payout ratio is 3,862.50%.

About SL Green Realty

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.