Arrowstreet Capital Limited Partnership Sells 256,515 Shares of SL Green Realty Corp. (NYSE:SLG)

Arrowstreet Capital Limited Partnership decreased its stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 98.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,863 shares of the real estate investment trust's stock after selling 256,515 shares during the period. Arrowstreet Capital Limited Partnership's holdings in SL Green Realty were worth $330,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jones Financial Companies Lllp acquired a new position in SL Green Realty during the fourth quarter worth about $39,000. 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 valued at $71,000 after purchasing an additional 157 shares in the last quarter. Blue Trust Inc. grew its stake in shares of SL Green Realty by 106.3% in the 4th quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock worth $116,000 after purchasing an additional 857 shares during the last quarter. Game Plan Financial Advisors LLC bought a new stake in shares of SL Green Realty in the 4th quarter worth approximately $149,000. Finally, Smartleaf Asset Management LLC lifted its stake in SL Green Realty by 115.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,251 shares of the real estate investment trust's stock valued at $149,000 after purchasing an additional 1,207 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Craig M. Hatkoff sold 3,455 shares of the business's 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 completion of the sale, the director now directly owns 2,052 shares in the company, valued at approximately $136,047.60. The trade was a 62.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SLG shares. Scotiabank decreased their price target on shares of 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. Bank of America reduced their target price on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Wells Fargo & Company dropped their price target on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. 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 note on Wednesday, March 12th. Finally, Evercore ISI raised shares of SL Green Realty from an "in-line" rating to an "outperform" rating and dropped their target price for the stock from $74.00 to $73.00 in a research report on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. Based on 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 Down 0.0 %

NYSE SLG traded down $0.01 on Friday, reaching $52.30. The stock had a trading volume of 1,295,972 shares, compared to its average volume of 855,003. SL Green Realty Corp. has a 1 year low of $45.15 and a 1 year high of $82.81. The business has a 50 day moving average price of $58.08 and a 200 day moving average price of $66.80. 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 company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 653.79, a P/E/G ratio of 5.30 and a beta of 1.61.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.13. The firm had revenue of $144.52 million for the quarter, compared to the consensus estimate of $158.44 million. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. On average, analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be paid a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 1.97%. SL Green Realty's payout ratio is presently 3,862.50%.

SL Green Realty 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.