Insider Selling: SL Green Realty Corp. (NYSE:SLG) Director Sells $229,066.50 in Stock

SL Green Realty Corp. (NYSE:SLG - Get Free Report) Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the transaction, the director now owns 2,052 shares in the company, valued at $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

SL Green Realty Stock Up 2.1 %

Shares of SL Green Realty stock traded up $1.39 on Monday, hitting $67.38. 771,793 shares of the company's stock traded hands, compared to its average volume of 826,700. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. The firm's 50-day moving average is $70.73 and its 200 day moving average is $69.33. The stock has a market cap of $4.44 billion, a P/E ratio of 842.24, a PEG ratio of 5.53 and a beta of 1.82. SL Green Realty Corp. has a 52-week low of $41.88 and a 52-week high of $82.81.

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 EPS 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 0.11%. Equities analysts anticipate that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be issued a $0.2575 dividend. This represents a $3.09 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Friday, January 31st. SL Green Realty's dividend payout ratio is currently 3,862.50%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore ISI increased their price objective on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an "in-line" rating in a report on Monday, October 21st. Piper Sandler reiterated an "overweight" rating and issued a $90.00 price target (up previously from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Compass Point lifted their target price on SL Green Realty from $65.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, December 11th. Morgan Stanley upped their price target on shares of SL Green Realty from $47.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 9th. Finally, Mizuho raised their price objective on SL Green Realty from $45.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $69.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in shares of SL Green Realty by 1.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 39,786 shares of the real estate investment trust's stock valued at $2,253,000 after acquiring an additional 557 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of SL Green Realty by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust's stock worth $56,350,000 after purchasing an additional 88,309 shares during the period. Xponance Inc. lifted its position in shares of SL Green Realty by 6.6% in the 2nd quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust's stock worth $240,000 after buying an additional 262 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of SL Green Realty by 5.4% in the 2nd quarter. AQR Capital Management LLC now owns 11,062 shares of the real estate investment trust's stock valued at $621,000 after buying an additional 569 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of SL Green Realty by 3.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,780 shares of the real estate investment trust's stock valued at $2,310,000 after buying an additional 1,459 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

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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