Franklin Resources Inc. Has $1.79 Million Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

Franklin Resources Inc. increased its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 196.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,314 shares of the real estate investment trust's stock after buying an additional 17,437 shares during the period. Franklin Resources Inc.'s holdings in SL Green Realty were worth $1,787,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its stake in shares of SL Green Realty by 2.4% during the 4th quarter. Alliancebernstein L.P. now owns 102,062 shares of the real estate investment trust's stock valued at $6,932,000 after buying an additional 2,440 shares during the last quarter. California Public Employees Retirement System raised its position in shares of SL Green Realty by 2.3% during the 4th quarter. California Public Employees Retirement System now owns 127,159 shares of the real estate investment trust's stock valued at $8,637,000 after acquiring an additional 2,834 shares in the last quarter. Summit Securities Group LLC acquired a new position in SL Green Realty in the fourth quarter worth $88,000. Pictet Asset Management Holding SA increased its stake in SL Green Realty by 6.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 20,784 shares of the real estate investment trust's stock valued at $1,412,000 after purchasing an additional 1,310 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of SL Green Realty by 15.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 94,080 shares of the real estate investment trust's stock worth $6,390,000 after buying an additional 12,530 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

SL Green Realty Stock Down 0.0 %

Shares of SL Green Realty stock traded down $0.01 during midday trading on Friday, hitting $52.30. The company's stock had a trading volume of 1,295,972 shares, compared to its average volume of 855,003. The firm has a market capitalization of $3.73 billion, a P/E ratio of 653.79, a PEG ratio of 5.30 and a beta of 1.61. SL Green Realty Corp. has a 1-year low of $45.15 and a 1-year high of $82.81. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. The stock has a 50-day simple moving average of $58.08 and a 200-day simple moving average of $66.80.

SL Green Realty (NYSE:SLG - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.13. The company had revenue of $144.52 million for the quarter, compared to analysts' expectations of $158.44 million. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be paid a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 1.97%. SL Green Realty's dividend payout ratio is presently 3,862.50%.

Insiders Place Their Bets

In related news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $66.30, for a total transaction of $229,066.50. Following the completion of the sale, the director now directly owns 2,052 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.08% of the company's stock.

Analysts Set New Price Targets

SLG has been the topic of a number of research analyst reports. Truist Financial raised their price objective on shares of SL Green Realty from $61.00 to $62.00 and gave the company a "hold" rating in a research note on Monday, January 27th. Mizuho raised their target price on SL Green Realty from $45.00 to $67.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Scotiabank dropped their price target on shares of SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Friday, February 28th. Bank of America reduced 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 report on Monday, January 27th. Finally, Barclays dropped their target price on shares of 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, eleven have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $69.87.

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.