Legal & General Group Plc Sells 107,234 Shares of SL Green Realty Corp. (NYSE:SLG)

Legal & General Group Plc decreased its holdings in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 633,698 shares of the real estate investment trust's stock after selling 107,234 shares during the period. Legal & General Group Plc owned about 0.96% of SL Green Realty worth $43,041,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SLG. Invesco Ltd. raised its stake in SL Green Realty by 8.7% during the fourth quarter. Invesco Ltd. now owns 1,008,124 shares of the real estate investment trust's stock worth $68,472,000 after acquiring an additional 80,470 shares in the last quarter. Bank of Montreal Can increased its position in shares of SL Green Realty by 3.3% during the 4th quarter. Bank of Montreal Can now owns 18,653 shares of the real estate investment trust's stock worth $1,267,000 after purchasing an additional 602 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in SL Green Realty during the 4th quarter valued at about $386,000. Waterloo Capital L.P. raised its stake in shares of SL Green Realty by 10.9% in the fourth quarter. Waterloo Capital L.P. now owns 21,105 shares of the real estate investment trust's stock valued at $1,433,000 after acquiring an additional 2,079 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of SL Green Realty by 37.4% in the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 208 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Craig M. Hatkoff sold 3,455 shares of the 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 completion of the transaction, the director now owns 2,052 shares in the company, valued at approximately $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.08% of the company's stock.

SL Green Realty Stock Down 0.0 %

SLG traded down $0.01 during trading on Friday, reaching $52.30. The company had a trading volume of 1,295,972 shares, compared to its average volume of 860,327. The company has a market cap of $3.73 billion, a P/E ratio of 653.79, a PEG ratio of 5.30 and a beta of 1.61. SL Green Realty Corp. has a 12 month low of $45.15 and a 12 month high of $82.81. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. The business's fifty day moving average price is $58.32 and its 200 day moving average price is $66.91.

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. The firm had revenue of $144.52 million during the quarter, compared to analyst estimates of $158.44 million. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. Equities analysts anticipate that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be paid a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 1.97%. SL Green Realty's payout ratio is 3,862.50%.

Analyst Ratings Changes

SLG has been the topic of a number of research reports. Scotiabank reduced their target price on shares of SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Friday, February 28th. Barclays decreased their price objective 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. Mizuho boosted their target price on SL Green Realty from $45.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. Evercore ISI upgraded SL Green Realty from an "in-line" rating to an "outperform" rating and decreased their price target for the company from $74.00 to $73.00 in a report on Monday, March 17th. Finally, Jefferies Financial Group assumed coverage on shares of SL Green Realty in a research report on Monday, March 17th. They set a "hold" rating and a $58.00 target price on the stock. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $69.87.

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.