Fox Run Management L.L.C. Raises Holdings in SL Green Realty Corp. (NYSE:SLG)

Fox Run Management L.L.C. boosted its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 70.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,296 shares of the real estate investment trust's stock after purchasing an additional 10,081 shares during the quarter. Fox Run Management L.L.C.'s holdings in SL Green Realty were worth $1,650,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in SL Green Realty by 50.5% during 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. grew its position in shares of SL Green Realty by 12.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust's stock valued at $96,990,000 after purchasing an additional 159,870 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of SL Green Realty by 1.8% in the fourth quarter. Allianz Asset Management GmbH now owns 534,159 shares of the real estate investment trust's stock worth $36,280,000 after purchasing an additional 9,299 shares during the period. 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 worth $31,058,000 after buying an additional 356,275 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in SL Green Realty by 12.2% during the fourth quarter. Principal Financial Group Inc. now owns 342,758 shares of the real estate investment trust's stock valued at $23,280,000 after buying an additional 37,163 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.

Remove Ads

Insider Buying and Selling

In related news, Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty 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 transaction, the director now owns 2,052 shares in the company, valued at approximately $136,047.60. The trade was a 62.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SLG has been the topic of a number of research analyst reports. Scotiabank decreased 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 cut their price target 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. Barclays lowered their price objective on shares of SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Morgan Stanley increased their target price on SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 12th. Finally, Wells Fargo & Company dropped their price target on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating for the company in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $69.87.

SL Green Realty Stock Up 0.0 %

NYSE:SLG traded up $0.01 during mid-day trading on Tuesday, hitting $59.43. 155,803 shares of the company's stock were exchanged, compared to its average volume of 835,405. SL Green Realty Corp. has a one year low of $47.22 and a one year high of $82.81. The business has a fifty day moving average price of $63.27 and a 200 day moving average price of $69.06. The company has a market cap of $4.24 billion, a PE ratio of 742.38, a P/E/G ratio of 5.30 and a beta of 1.82. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, beating the consensus estimate 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 predict that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.2575 per share. The ex-dividend date is Monday, March 31st. This represents a $1.03 annualized dividend and a dividend yield of 1.73%. This is a positive change from SL Green Realty's previous quarterly dividend of $0.25. SL Green Realty's dividend payout ratio 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.