Advisors Preferred LLC Grows Stake in SL Green Realty Corp. (NYSE:SLG)

Advisors Preferred LLC increased its stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 58.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,459 shares of the real estate investment trust's stock after buying an additional 20,037 shares during the quarter. Advisors Preferred LLC owned about 0.08% of SL Green Realty worth $3,724,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its position in shares of SL Green Realty by 272.0% in the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 272 shares during the period. Point72 DIFC Ltd bought a new position in SL Green Realty in the 3rd quarter valued at about $35,000. Friedenthal Financial acquired a new position in shares of SL Green Realty in the 3rd quarter valued at approximately $49,000. Blue Trust Inc. lifted its holdings in shares of SL Green Realty by 363.2% during 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 period. Finally, Versant Capital Management Inc boosted its position in shares of SL Green Realty by 17.7% during the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 157 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

SL Green Realty Trading Down 1.0 %

Shares of SLG stock traded down $0.65 on Wednesday, hitting $63.80. The company had a trading volume of 977,357 shares, compared to its average volume of 799,009. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 3.21. SL Green Realty Corp. has a twelve month low of $42.10 and a twelve month high of $82.81. The stock's 50-day moving average is $67.83 and its two-hundred day moving average is $69.63. The firm has a market cap of $4.21 billion, a P/E ratio of 797.50, a P/E/G ratio of 5.49 and a beta of 1.82.

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, topping the consensus estimate 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, equities research analysts anticipate that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be given a dividend of $0.2575 per share. This represents a $3.09 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Friday, January 31st. SL Green Realty's payout ratio is 3,862.50%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays cut their target price on SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Scotiabank upped their price objective on SL Green Realty from $80.00 to $81.00 and gave the stock a "sector perform" rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. upgraded SL Green Realty from an "underweight" rating to a "neutral" rating and lifted their target price for the company from $51.00 to $80.00 in a research report on Tuesday, December 10th. Wells Fargo & Company lowered their target price on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating for the company in a research note on Monday, February 3rd. Finally, Bank of America reduced their price target on shares of SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $71.07.

Insider Activity at SL Green Realty

In other news, Director Craig M. Hatkoff sold 3,455 shares of the firm's stock in a transaction 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 completion of the sale, the director now directly owns 2,052 shares of the company's stock, valued at $136,047.60. This trade represents a 62.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.08% of the stock is currently owned by insiders.

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.