SL Green Realty Corp. (NYSE:SLG) Holdings Boosted by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,751,709 shares of the real estate investment trust's stock after buying an additional 110,594 shares during the period. Geode Capital Management LLC owned 2.66% of SL Green Realty worth $119,001,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new position in SL Green Realty in the 4th quarter valued at about $48,050,000. Vanguard Group Inc. boosted its position in SL Green Realty by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust's stock worth $735,594,000 after acquiring an additional 564,822 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in SL Green Realty by 12.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust's stock worth $96,990,000 after acquiring an additional 159,870 shares during the period. Proficio Capital Partners LLC acquired a new position in SL Green Realty in the 4th quarter valued at $7,705,000. Finally, Candriam S.C.A. purchased a new position in shares of SL Green Realty during the 4th quarter worth $7,126,000. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Stock Up 0.9 %

Shares of NYSE SLG traded up $0.44 during trading on Monday, reaching $50.07. 50,798 shares of the stock were exchanged, compared to its average volume of 861,576. SL Green Realty Corp. has a twelve month low of $45.15 and a twelve month high of $82.81. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 625.81, a price-to-earnings-growth 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. The business's 50-day moving average price is $59.43 and its 200 day moving average price is $67.37.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share 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, equities analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.2575 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from SL Green Realty's previous quarterly dividend of $0.25. This represents a $1.03 annualized dividend and a yield of 2.06%. SL Green Realty's dividend payout ratio is currently 3,862.50%.

Wall Street Analysts Forecast Growth

SLG has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on SL Green Realty in a research note on Monday, March 17th. They issued a "hold" rating and a $58.00 target price for the company. Scotiabank decreased their target price 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. Barclays dropped their price target on shares of SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Mizuho lifted their price target on shares of SL Green Realty from $45.00 to $67.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Finally, Bank of America dropped their price objective on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $69.87.

Insider Buying and Selling at SL Green Realty

In other news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction dated 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 of the company's stock, 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 document filed with the SEC, which is accessible through this hyperlink. 5.08% of the stock is currently owned by insiders.

SL Green Realty Company 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.