HB Wealth Management LLC bought a new stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,479 shares of the real estate investment trust's stock, valued at approximately $304,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its position in shares of SL Green Realty by 272.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 272 shares in the last quarter. Point72 DIFC Ltd bought a new position in SL Green Realty in the third quarter worth $35,000. Friedenthal Financial purchased a new position in SL Green Realty during the third quarter valued at $49,000. Blue Trust Inc. boosted its holdings in shares of SL Green Realty by 363.2% during the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust's stock valued at $56,000 after buying an additional 632 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in shares of SL Green Realty by 17.7% in the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after buying an additional 157 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.
SL Green Realty Stock Performance
Shares of SLG stock traded up $0.25 during mid-day trading on Friday, reaching $66.03. 343,040 shares of the company's stock traded hands, compared to its average volume of 806,179. SL Green Realty Corp. has a 12 month low of $41.88 and a 12 month high of $82.81. The firm has a 50 day moving average price of $71.13 and a two-hundred day moving average price of $69.12. The firm has a market capitalization of $4.35 billion, a PE ratio of 823.65, a price-to-earnings-growth ratio of 5.53 and a beta of 1.82. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58.
SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, topping analysts' consensus estimates of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.11% and a net margin of 2.48%. On average, research analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current year.
SL Green Realty Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be paid a $0.2575 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.09 dividend on an annualized basis and a dividend yield of 4.68%. SL Green Realty's dividend payout ratio (DPR) is presently 3,862.50%.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on SLG. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an "underweight" rating to a "neutral" rating and lifted their target price for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. Piper Sandler reiterated an "overweight" rating and set a $90.00 price objective (up previously from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Mizuho increased their target price on SL Green Realty from $45.00 to $67.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Evercore ISI lifted their price target on SL Green Realty from $67.00 to $79.00 and gave the stock an "in-line" rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group cut 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 report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $68.38.
View Our Latest Stock Analysis on SLG
About SL Green Realty
(
Free Report)
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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