Kestra Investment Management LLC Trims Holdings in SL Green Realty Corp. (NYSE:SLG)

Kestra Investment Management LLC cut its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 73.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,351 shares of the real estate investment trust's stock after selling 9,233 shares during the period. Kestra Investment Management LLC's holdings in SL Green Realty were worth $228,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SLG. Venturi Wealth Management LLC lifted 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 purchasing an additional 272 shares during the period. Point72 DIFC Ltd acquired a new position in SL Green Realty during the 3rd quarter valued at approximately $35,000. Blue Trust Inc. increased its stake in 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 purchasing an additional 632 shares in the last quarter. Versant Capital Management Inc increased its stake in SL Green Realty by 17.7% during the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 157 shares in the last quarter. Finally, Game Plan Financial Advisors LLC acquired a new position in SL Green Realty during the 4th quarter valued at approximately $149,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Price Performance

Shares of NYSE SLG traded down $1.87 during trading on Friday, hitting $62.57. The company had a trading volume of 393,395 shares, compared to its average volume of 759,031. The stock has a fifty day simple moving average of $66.50 and a two-hundred day simple moving average of $69.53. SL Green Realty Corp. has a fifty-two week low of $45.87 and a fifty-two week high of $82.81. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 782.13, a price-to-earnings-growth ratio of 5.40 and a beta of 1.82. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, topping the consensus estimate 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%. On average, research analysts expect that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $0.2575 dividend. This represents a $3.09 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend is Friday, February 28th. SL Green Realty's dividend payout ratio is currently 3,862.50%.

Insider Transactions at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty 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 directly owns 2,052 shares of the company's stock, valued at $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.08% of the company's stock.

Wall Street Analyst Weigh In

SLG has been the topic of a number of recent analyst reports. Mizuho upped their price target on shares of SL Green Realty from $45.00 to $67.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Jefferies Financial Group cut their price target on shares of SL Green Realty from $75.00 to $69.00 and set a "hold" rating on the stock in a research note on Thursday, January 2nd. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an "underweight" rating to a "neutral" rating and upped their price target for the company from $51.00 to $80.00 in a research note on Tuesday, December 10th. Bank of America cut their price target on shares of SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Finally, Scotiabank upped their price objective on shares of SL Green Realty from $80.00 to $81.00 and gave the company a "sector perform" rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $71.07.

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.