Easterly Investment Partners LLC Invests $3.69 Million in SL Green Realty Corp. (NYSE:SLG)

Easterly Investment Partners LLC acquired a new position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 54,268 shares of the real estate investment trust's stock, valued at approximately $3,686,000. Easterly Investment Partners LLC owned about 0.08% of SL Green Realty at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in SLG. Point72 DIFC Ltd purchased a new stake in shares of SL Green Realty during the third quarter valued at about $35,000. Jones Financial Companies Lllp bought a new position in shares of SL Green Realty during the 4th quarter worth approximately $39,000. Versant Capital Management Inc lifted its position in SL Green Realty by 17.7% during the fourth 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 last quarter. Blue Trust Inc. boosted its stake 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 valued at $116,000 after acquiring an additional 857 shares in the last quarter. Finally, Game Plan Financial Advisors LLC purchased a new position in SL Green Realty in the fourth quarter worth $149,000. Institutional investors own 89.96% of the company's stock.

Insider Activity

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the firm'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 sale, the director now directly owns 2,052 shares of the company's stock, valued at approximately $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.08% of the company's stock.

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Analysts Set New Price Targets

Several analysts have recently commented on SLG shares. Barclays decreased their price objective on SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating for the company in a report on Tuesday, January 28th. Wells Fargo & Company lowered their price target on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. Evercore ISI upgraded SL Green Realty from an "in-line" rating to an "outperform" rating and dropped their price target for the stock from $74.00 to $73.00 in a research note on Monday, March 17th. Jefferies Financial Group started coverage on shares of SL Green Realty in a research report on Monday, March 17th. They issued a "hold" rating and a $58.00 price objective for the company. Finally, Truist Financial boosted their target price on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a "hold" rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $69.87.

SL Green Realty Stock Performance

SL Green Realty stock traded up $0.35 during midday trading on Monday, hitting $57.64. 141,289 shares of the company were exchanged, compared to its average volume of 850,768. The business has a fifty day simple moving average of $62.75 and a two-hundred day simple moving average of $68.90. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. The firm has a market capitalization of $4.11 billion, a PE ratio of 720.56, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. SL Green Realty Corp. has a fifty-two week low of $47.22 and a fifty-two week high of $82.81.

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 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, sell-side analysts forecast that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.2575 per share. 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 dividend yield of 1.79%. The ex-dividend date of this dividend is Monday, March 31st. SL Green Realty's dividend 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.