Invesco Ltd. Purchases 80,470 Shares of SL Green Realty Corp. (NYSE:SLG)

Invesco Ltd. boosted its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,008,124 shares of the real estate investment trust's stock after acquiring an additional 80,470 shares during the period. Invesco Ltd. owned 1.53% of SL Green Realty worth $68,472,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in SL Green Realty in the fourth quarter worth approximately $39,000. Quadrant Capital Group LLC increased its holdings in SL Green Realty by 37.4% during the 4th quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 208 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of SL Green Realty by 17.7% in the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 157 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of SL Green Realty during the fourth quarter valued at approximately $88,000. Finally, Blue Trust Inc. raised its position in SL Green Realty by 106.3% in the 4th quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock valued at $116,000 after buying an additional 857 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

SL Green Realty Price Performance

Shares of SLG traded down $0.01 during mid-day trading on Friday, reaching $52.30. 1,295,972 shares of the stock traded hands, compared to its average volume of 855,003. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. SL Green Realty Corp. has a 1 year low of $45.15 and a 1 year high of $82.81. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 653.79, a price-to-earnings-growth ratio of 5.30 and a beta of 1.61. The firm has a fifty day moving average price of $58.08 and a 200 day moving average price of $66.80.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.13. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. The business had revenue of $144.52 million for the quarter, compared to analyst estimates of $158.44 million. As a group, equities research analysts predict that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.97%. SL Green Realty's dividend payout ratio is currently 3,862.50%.

Insider Buying and Selling

In other news, Director Craig M. Hatkoff sold 3,455 shares of the company's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of the sale, the director now owns 2,052 shares of the company's stock, valued at approximately $136,047.60. This represents a 62.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SLG has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on shares of SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. Bank of America reduced 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 report on Monday, January 27th. Jefferies Financial Group started coverage on shares of SL Green Realty in a research note on Monday, March 17th. They issued a "hold" rating and a $58.00 target price on the stock. Evercore ISI raised shares of SL Green Realty from an "in-line" rating to an "outperform" rating and lowered their price target for the stock from $74.00 to $73.00 in a report on Monday, March 17th. Finally, Barclays decreased their target price on 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. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, SL Green Realty has an average rating of "Hold" and an average target price of $69.87.

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.