Asset Management One Co. Ltd. Raises Stake in SL Green Realty Corp. (NYSE:SLG)

Asset Management One Co. Ltd. increased its holdings in SL Green Realty Corp. (NYSE:SLG - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,711 shares of the real estate investment trust's stock after acquiring an additional 9,753 shares during the period. Asset Management One Co. Ltd. owned about 0.16% of SL Green Realty worth $6,870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SLG. Wellington Management Group LLP grew its stake in SL Green Realty by 50.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust's stock valued at $202,777,000 after purchasing an additional 977,321 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in SL Green Realty by 396.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,170 shares of the real estate investment trust's stock valued at $31,058,000 after buying an additional 356,275 shares during the period. Point72 Asset Management L.P. bought a new position in SL Green Realty during the third quarter valued at about $18,811,000. Charles Schwab Investment Management Inc. increased its holdings in SL Green Realty by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust's stock worth $88,275,000 after buying an additional 97,653 shares during the last quarter. Finally, Barclays PLC raised its position in SL Green Realty by 304.8% in the third quarter. Barclays PLC now owns 110,866 shares of the real estate investment trust's stock worth $7,718,000 after acquiring an additional 83,478 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Bank of America decreased their price target on shares of SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Compass Point raised their target price on SL Green Realty from $65.00 to $75.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 11th. Mizuho upped their price target 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. Wells Fargo & Company cut their price target 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, Jefferies Financial Group lowered their price objective on SL Green Realty from $75.00 to $69.00 and set a "hold" rating on the stock in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, SL Green Realty has a consensus rating of "Hold" and a consensus target price of $71.07.

SL Green Realty Price Performance

NYSE:SLG traded down $1.72 during mid-day trading on Friday, hitting $62.72. 705,047 shares of the stock traded hands, compared to its average volume of 768,672. The business's 50-day moving average price is $66.50 and its 200 day moving average price is $69.53. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. The company has a market cap of $4.14 billion, a PE ratio of 784.05, a price-to-earnings-growth ratio of 5.40 and a beta of 1.82. SL Green Realty Corp. has a 12-month low of $45.87 and a 12-month high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, beating 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, analysts expect that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

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

Insider Buying and Selling at SL Green Realty

In other news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction 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 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 Securities & Exchange Commission, which is available at this link. Insiders own 5.08% of the company's stock.

SL Green Realty Company 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.