Charles Schwab Investment Management Inc. Buys 159,870 Shares of SL Green Realty Corp. (NYSE:SLG)

Charles Schwab Investment Management Inc. increased its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,428,008 shares of the real estate investment trust's stock after buying an additional 159,870 shares during the period. Charles Schwab Investment Management Inc. owned 2.17% of SL Green Realty worth $96,990,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC raised its stake in SL Green Realty by 272.0% in the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust's stock worth $26,000 after buying an additional 272 shares in the last quarter. Point72 DIFC Ltd bought a new position in SL Green Realty in the third quarter worth about $35,000. Jones Financial Companies Lllp bought a new position in SL Green Realty in the fourth quarter worth about $39,000. Versant Capital Management Inc grew its holdings in SL Green Realty by 17.7% in the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 157 shares during the period. Finally, Blue Trust Inc. grew its holdings in SL Green Realty by 106.3% in the fourth 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 period. 89.96% of the stock is owned by institutional investors.

SL Green Realty Stock Up 3.7 %

Shares of SL Green Realty stock opened at $62.01 on Monday. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 775.15, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. The company's 50 day moving average is $65.02 and its 200 day moving average is $69.66. SL Green Realty Corp. has a twelve month low of $47.22 and a twelve month high of $82.81. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90.

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SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share 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%. Research analysts anticipate that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $0.2575 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.09 annualized dividend and a yield of 4.98%. SL Green Realty's payout ratio is presently 3,862.50%.

Insiders Place Their Bets

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 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 in the company, valued at approximately $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.08% of the company's stock.

Analyst Upgrades and Downgrades

SLG has been the topic of a number of recent research reports. Scotiabank cut their price objective on shares of SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Bank of America cut their price objective on shares of SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. Truist Financial upped their price objective on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a "hold" rating in a report on Monday, January 27th. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an "underweight" rating to a "neutral" rating and upped their price objective for the stock from $51.00 to $80.00 in a report on Tuesday, December 10th. Finally, Mizuho upped their price objective on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $70.67.

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.

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