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

KLP Kapitalforvaltning AS bought a new position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,574 shares of the real estate investment trust's stock, valued at approximately $925,000.

Other institutional investors also recently bought and sold shares of the company. Point72 DIFC Ltd bought a new position in shares of SL Green Realty during the 3rd quarter valued at about $35,000. Jones Financial Companies Lllp purchased a new position in SL Green Realty during the 4th quarter valued at approximately $39,000. Versant Capital Management Inc increased its stake in SL Green Realty by 17.7% in the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 157 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of SL Green Realty by 106.3% during the 4th quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock worth $116,000 after acquiring an additional 857 shares in the last quarter. Finally, Game Plan Financial Advisors LLC bought a new position in shares of 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.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SLG. Barclays reduced their price target on shares of 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. Compass Point boosted their target price on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a "neutral" rating in a report on Wednesday, December 11th. Morgan Stanley increased their price target on shares of SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. upgraded SL Green Realty from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $51.00 to $80.00 in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group started coverage on SL Green Realty in a research report on Monday, March 17th. They set a "hold" rating and a $58.00 price objective on the stock. Two research 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, the company currently has an average rating of "Hold" and an average price target of $69.87.

Insiders Place Their Bets

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

SL Green Realty Trading Down 4.0 %

Shares of NYSE SLG traded down $2.13 during trading hours on Friday, reaching $50.59. The stock had a trading volume of 1,755,572 shares, compared to its average volume of 854,174. SL Green Realty Corp. has a 52-week low of $47.22 and a 52-week high of $82.81. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 632.38, a P/E/G ratio of 5.30 and a beta of 1.82. The business's fifty day moving average price is $61.66 and its two-hundred day moving average price is $68.42. 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 (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 (EPS) for the quarter, topping analysts' consensus estimates 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 fiscal year.

SL Green Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 dividend on an annualized basis and a yield of 2.04%. SL Green Realty's payout ratio is 3,862.50%.

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.