Empowered Funds LLC Invests $452,000 in SL Green Realty Corp. (NYSE:SLG)

Empowered Funds LLC purchased a new stake in SL Green Realty Corp. (NYSE:SLG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 6,652 shares of the real estate investment trust's stock, valued at approximately $452,000.

Several other hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in shares of SL Green Realty by 50.5% in the third 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 acquiring an additional 977,321 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of SL Green Realty by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust's stock valued at $88,275,000 after buying an additional 97,653 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of SL Green Realty by 396.3% in 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 in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of SL Green Realty in the third quarter valued at approximately $18,811,000. Finally, Moody Aldrich Partners LLC grew its position in SL Green Realty by 12.8% during the third quarter. Moody Aldrich Partners LLC now owns 117,926 shares of the real estate investment trust's stock worth $8,209,000 after buying an additional 13,427 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SLG. Bank of America cut their target price on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a research report on Monday, January 27th. Scotiabank increased their price objective on shares of SL Green Realty from $80.00 to $81.00 and gave the stock a "sector perform" rating in a research note on Tuesday, December 10th. Truist Financial boosted their target price on shares of SL Green Realty from $61.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, January 27th. Mizuho upped their price target 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. Finally, Jefferies Financial Group decreased their price objective on shares of 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 analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $71.07.

SL Green Realty Price Performance

SLG traded down $1.72 on Friday, reaching $62.72. The stock had a trading volume of 705,047 shares, compared to its average volume of 683,264. The firm has a 50-day moving average of $66.50 and a 200-day moving average of $69.53. SL Green Realty Corp. has a fifty-two week low of $45.87 and a fifty-two week high of $82.81. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 784.05, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90.

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%. As a group, sell-side analysts anticipate that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

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

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the company'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 sale, the director now owns 2,052 shares of the company's stock, valued at approximately $136,047.60. This represents 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 this hyperlink. 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.