KLP Kapitalforvaltning AS Purchases New Position in SL Green Realty Corp. (NYSE:SLG)

KLP Kapitalforvaltning AS purchased a new stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 13,574 shares of the real estate investment trust's stock, valued at approximately $925,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SLG. Charles Schwab Investment Management Inc. lifted its holdings in SL Green Realty by 12.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust's stock valued at $96,990,000 after acquiring an additional 159,870 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in shares of SL Green Realty in the 4th quarter worth $337,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of SL Green Realty by 8.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust's stock valued at $5,187,000 after purchasing an additional 6,158 shares during the period. Asset Management One Co. Ltd. increased its stake in SL Green Realty by 10.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust's stock worth $6,870,000 after purchasing an additional 9,753 shares in the last quarter. Finally, FMR LLC lifted its stake in 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 valued at $4,050,000 after buying an additional 23,780 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Evercore ISI raised SL Green Realty from an "in-line" rating to an "outperform" rating and dropped their price target for the company from $74.00 to $73.00 in a research report on Monday, March 17th. Bank of America dropped 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. Truist Financial lifted their price objective on SL Green Realty from $61.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, January 27th. Barclays dropped their target price on SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Finally, Scotiabank reduced their price target on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $69.87.

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Insider Buying and Selling

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.30, for a total transaction of $229,066.50. Following the sale, the director now owns 2,052 shares in the company, valued at $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.08% of the stock is currently owned by insiders.

SL Green Realty Stock Performance

SLG traded up $0.60 during trading on Wednesday, hitting $58.58. The stock had a trading volume of 453,539 shares, compared to its average volume of 849,507. 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 12 month low of $47.22 and a 12 month high of $82.81. The company has a 50 day simple moving average of $62.41 and a 200-day simple moving average of $68.75. The firm has a market cap of $4.18 billion, a PE ratio of 732.25, a P/E/G ratio of 5.30 and a beta of 1.82.

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 earnings per share for the quarter, topping the consensus estimate of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. Analysts expect that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.2575 dividend. This is an increase from SL Green Realty's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.03 annualized dividend and a dividend yield of 1.76%. SL Green Realty's dividend payout ratio (DPR) 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.