Allianz Asset Management GmbH Has $36.28 Million Stock Position in SL Green Realty Corp. (NYSE:SLG)

Allianz Asset Management GmbH grew its position in SL Green Realty Corp. (NYSE:SLG - Free Report) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 534,159 shares of the real estate investment trust's stock after acquiring an additional 9,299 shares during the quarter. Allianz Asset Management GmbH owned 0.81% of SL Green Realty worth $36,280,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in SL Green Realty by 363.2% during the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust's stock worth $56,000 after buying an additional 632 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of SL Green Realty by 6,861.0% during the 3rd quarter. International Assets Investment Management LLC now owns 14,618 shares of the real estate investment trust's stock worth $1,018,000 after acquiring an additional 14,408 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of SL Green Realty by 33.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,565 shares of the real estate investment trust's stock valued at $178,000 after acquiring an additional 649 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in SL Green Realty by 4.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust's stock valued at $262,000 after acquiring an additional 148 shares during the period. Finally, abrdn plc raised its position in SL Green Realty by 7.5% in the third quarter. abrdn plc now owns 12,891 shares of the real estate investment trust's stock worth $897,000 after purchasing an additional 894 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

SL Green Realty Stock Down 2.7 %

NYSE:SLG opened at $62.72 on Monday. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 784.05, a P/E/G ratio of 5.30 and a beta of 1.82. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. The stock's fifty day moving average price is $66.26 and its two-hundred day moving average price is $69.60. SL Green Realty Corp. has a 52-week low of $45.87 and a 52-week high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly 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%. On average, analysts anticipate that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $0.2575 dividend. This represents a $3.09 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend is Friday, February 28th. SL Green Realty's dividend payout ratio (DPR) is presently 3,862.50%.

Analyst Upgrades and Downgrades

SLG has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised SL Green Realty from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. Bank of America decreased their price target on 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. Jefferies Financial Group dropped their price objective on 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. Scotiabank boosted their target price on shares of SL Green Realty from $80.00 to $81.00 and gave the company a "sector perform" rating in a research note on Tuesday, December 10th. Finally, Compass Point increased their target price on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, SL Green Realty currently has an average rating of "Hold" and an average price target of $71.07.

Insider Transactions at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the firm's stock in a transaction that occurred 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 transaction, the director now directly owns 2,052 shares of the company's stock, valued at approximately $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.08% of the stock is owned by corporate 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.

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