American Century Companies Inc. Buys 23,977 Shares of SL Green Realty Corp. (NYSE:SLG)

American Century Companies Inc. lifted its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 28.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,807 shares of the real estate investment trust's stock after acquiring an additional 23,977 shares during the period. American Century Companies Inc. owned approximately 0.16% of SL Green Realty worth $7,254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SLG. Point72 DIFC Ltd bought a new stake in SL Green Realty during the third quarter worth $35,000. Jones Financial Companies Lllp acquired a new position in shares of SL Green Realty during the 4th quarter worth $39,000. Versant Capital Management Inc lifted 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 buying an additional 157 shares during the last quarter. Blue Trust Inc. lifted its position in shares of SL Green Realty by 106.3% during the 4th quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock worth $116,000 after buying an additional 857 shares during the last quarter. Finally, Game Plan Financial Advisors LLC acquired a new stake in SL Green Realty in the fourth quarter valued at about $149,000. Institutional investors and hedge funds own 89.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SLG shares. Bank of America dropped their target price on shares of SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a report on Monday, January 27th. JPMorgan Chase & Co. raised shares of SL Green Realty from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $51.00 to $80.00 in a research note on Tuesday, December 10th. Truist Financial raised their target price on shares of SL Green Realty from $61.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, January 27th. Jefferies Financial Group began coverage on shares of SL Green Realty in a report on Monday, March 17th. They set a "hold" rating and a $58.00 price target for the company. Finally, Wells Fargo & Company cut their price objective on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating on the stock in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $69.87.

SL Green Realty Trading Down 4.1 %

Shares of SL Green Realty stock traded down $2.05 during midday trading on Tuesday, reaching $47.88. The company had a trading volume of 1,537,556 shares, compared to its average volume of 861,358. The stock has a fifty day moving average price of $60.68 and a 200 day moving average price of $67.93. SL Green Realty Corp. has a fifty-two week low of $46.92 and a fifty-two week high of $82.81. The firm has a market cap of $3.41 billion, a PE ratio of 598.51, a P/E/G ratio of 5.30 and a beta of 1.61. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58.

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

SL Green Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.2575 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from SL Green Realty's previous quarterly dividend of $0.25. This represents a $1.03 annualized dividend and a yield of 2.15%. SL Green Realty's payout ratio is 3,862.50%.

Insider Activity at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction that occurred 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 transaction, the director now owns 2,052 shares in the company, valued at approximately $136,047.60. This 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 is accessible through this hyperlink. 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.