Barclays PLC Boosts Holdings in SL Green Realty Corp. (NYSE:SLG)

Barclays PLC lifted its stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 13.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,478 shares of the real estate investment trust's stock after acquiring an additional 14,612 shares during the period. Barclays PLC owned 0.19% of SL Green Realty worth $8,522,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SLG. Tidal Investments LLC purchased a new stake in SL Green Realty during the third quarter valued at about $791,000. Franklin Resources Inc. purchased a new stake in SL Green Realty during the third quarter worth approximately $621,000. Oddo BHF Asset Management Sas acquired a new stake in shares of SL Green Realty in the third quarter worth $1,050,000. Versant Capital Management Inc raised its stake in shares of SL Green Realty by 17.7% in 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 acquiring an additional 157 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of SL Green Realty by 5.1% during the 4th quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust's stock valued at $285,000 after acquiring an additional 203 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Price Performance

Shares of SLG opened at $53.64 on Thursday. 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 firm has a market cap of $3.82 billion, a price-to-earnings ratio of 670.50, a PEG ratio of 5.30 and a beta of 1.61. SL Green Realty Corp. has a 52 week low of $45.15 and a 52 week high of $82.81. The stock has a 50 day moving average of $57.36 and a 200-day moving average of $66.47.

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

SL Green Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be paid a $0.2575 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.03 dividend on an annualized basis and a yield of 1.92%. SL Green Realty's payout ratio is currently -735.71%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SLG. Bank of America cut their price objective on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Morgan Stanley raised their target price on SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a report on Wednesday, March 12th. Scotiabank decreased their price target on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Truist Financial dropped their price objective on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating on the stock in a research note on Wednesday. Finally, Piper Sandler decreased their target price on shares of SL Green Realty from $90.00 to $72.00 and set an "overweight" rating for the company in a research note on Monday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $68.13.

Insider Activity

In other news, Director Craig M. Hatkoff sold 3,455 shares of the business's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.30, for a total transaction of $229,066.50. Following the completion of the transaction, the director now owns 2,052 shares of the company's stock, valued at approximately $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.08% of the company's stock.

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.

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