First Trust Advisors LP Boosts Stake in SL Green Realty Corp. (NYSE:SLG)

First Trust Advisors LP lifted its holdings in SL Green Realty Corp. (NYSE:SLG - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 292,621 shares of the real estate investment trust's stock after purchasing an additional 36,492 shares during the period. First Trust Advisors LP owned about 0.44% of SL Green Realty worth $19,875,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of SLG. Jones Financial Companies Lllp purchased a new stake in shares of SL Green Realty during the fourth quarter worth about $39,000. Quadrant Capital Group LLC increased its stake in SL Green Realty by 37.4% during the 4th quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock worth $52,000 after buying an additional 208 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of 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. Summit Securities Group LLC purchased a new position in shares of SL Green Realty in the fourth quarter valued at approximately $88,000. Finally, FIL Ltd boosted its stake in shares of SL Green Realty by 53.3% in the fourth quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust's stock worth $107,000 after acquiring an additional 550 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Bank of America dropped their price objective on shares of 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. Wells Fargo & Company cut 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. Scotiabank lowered their price objective 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. Truist Financial cut their target price on SL Green Realty from $62.00 to $54.00 and set a "hold" rating for the company in a research note on Wednesday. Finally, Piper Sandler lowered their price target on shares of SL Green Realty from $90.00 to $72.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, SL Green Realty presently has an average rating of "Hold" and an average price target of $68.13.

SL Green Realty Price Performance

SLG opened at $54.37 on Friday. SL Green Realty Corp. has a 52-week low of $45.15 and a 52-week high of $82.81. The company has a 50 day moving average of $56.93 and a two-hundred day moving average of $66.29. The company has a market cap of $3.88 billion, a P/E ratio of 679.63, a P/E/G ratio of 5.30 and a beta of 1.61. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90.

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

SL Green Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be given a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 1.89%. The ex-dividend date is Wednesday, April 30th. SL Green Realty's dividend payout ratio (DPR) is presently -735.71%.

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.

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