Janney Montgomery Scott LLC Grows Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

Janney Montgomery Scott LLC increased its holdings in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 23.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 65,933 shares of the real estate investment trust's stock after purchasing an additional 12,424 shares during the period. Janney Montgomery Scott LLC owned 0.10% of SL Green Realty worth $4,478,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLG. FMR LLC boosted its holdings in shares of SL Green Realty by 69.1% during the third quarter. FMR LLC now owns 58,185 shares of the real estate investment trust's stock worth $4,050,000 after acquiring an additional 23,780 shares during the period. Weiss Asset Management LP acquired a new stake in shares of SL Green Realty in the third quarter valued at approximately $771,000. Citigroup Inc. raised its position in shares of SL Green Realty by 54.6% in the third quarter. Citigroup Inc. now owns 85,587 shares of the real estate investment trust's stock valued at $5,958,000 after buying an additional 30,220 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of SL Green Realty in the third quarter valued at approximately $876,000. Finally, Franklin Resources Inc. acquired a new stake in shares of SL Green Realty in the third quarter valued at approximately $621,000. Institutional investors own 89.96% of the company's stock.

Insider Activity

In related news, Director Craig M. Hatkoff sold 3,455 shares of the firm's stock in a transaction dated Friday, January 24th. The shares were 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 of the company's stock, valued at approximately $136,047.60. This trade represents a 62.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Piper Sandler reiterated an "overweight" rating and issued a $90.00 price target (up from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Compass Point boosted their price objective on shares of SL Green Realty from $65.00 to $75.00 and gave the company a "neutral" rating in a research report on Wednesday, December 11th. Evercore ISI boosted their price objective on shares of SL Green Realty from $67.00 to $79.00 and gave the company an "in-line" rating in a research report on Monday, October 21st. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $51.00 to $80.00 in a research report on Tuesday, December 10th. Finally, Morgan Stanley boosted their price objective on shares of SL Green Realty from $47.00 to $50.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 9th. Two equities 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.com, the company currently has a consensus rating of "Hold" and a consensus price target of $69.38.

SL Green Realty Trading Up 5.1 %

SL Green Realty stock traded up $3.20 during trading hours on Thursday, reaching $66.44. 988,705 shares of the company's stock were exchanged, compared to its average volume of 859,448. 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 simple moving average is $69.99 and its 200 day simple moving average is $69.35. SL Green Realty Corp. has a twelve month low of $41.88 and a twelve month high of $82.81. The firm has a market capitalization of $4.38 billion, a PE ratio of 830.49, a PEG ratio of 5.53 and a beta of 1.82.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, beating the consensus estimate 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%. Research analysts predict that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The company also recently announced 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 of this dividend is Friday, January 31st. This represents a $3.09 annualized dividend and a dividend yield of 4.65%. SL Green Realty's dividend payout ratio is presently 3,862.50%.

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.