Edgestream Partners L.P. Raises Holdings in SL Green Realty Corp. (NYSE:SLG)

Edgestream Partners L.P. increased its position in SL Green Realty Corp. (NYSE:SLG - Free Report) by 127.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,699 shares of the real estate investment trust's stock after acquiring an additional 53,079 shares during the quarter. Edgestream Partners L.P. owned about 0.14% of SL Green Realty worth $6,432,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Wolverine Asset Management LLC bought a new position in SL Green Realty in the 4th quarter valued at $337,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in SL Green Realty by 8.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust's stock valued at $5,187,000 after buying an additional 6,158 shares during the period. Asset Management One Co. Ltd. grew its position in SL Green Realty by 10.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust's stock worth $6,870,000 after buying an additional 9,753 shares in the last quarter. FMR LLC increased its stake in SL Green Realty by 69.1% in the 3rd quarter. FMR LLC now owns 58,185 shares of the real estate investment trust's stock worth $4,050,000 after acquiring an additional 23,780 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of SL Green Realty during the 4th quarter valued at about $452,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

Insiders Place Their Bets

In related news, Director Craig M. Hatkoff sold 3,455 shares of the company's stock in a transaction dated 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 in the company, valued at $136,047.60. The trade was a 62.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.08% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. 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 research report on Tuesday, January 7th. Wells Fargo & Company dropped their price objective on shares of 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. Scotiabank reduced their target price on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Bank of America dropped their price target on 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. Finally, Barclays decreased their price objective on SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, SL Green Realty presently has a consensus rating of "Hold" and a consensus target price of $70.67.

SL Green Realty Trading Down 3.4 %

Shares of SLG stock traded down $2.01 during mid-day trading on Tuesday, reaching $57.59. The stock had a trading volume of 1,242,662 shares, compared to its average volume of 850,664. 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 capitalization of $4.11 billion, a PE ratio of 719.91, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. SL Green Realty Corp. has a 52-week low of $47.22 and a 52-week high of $82.81. The stock's 50-day moving average price is $64.89 and its two-hundred day moving average price is $69.63.

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 (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%. Equities analysts expect that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.2575 per share. This represents a $3.09 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date is Friday, February 28th. SL Green Realty's dividend payout ratio (DPR) is presently 3,862.50%.

About SL Green Realty

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.