MetLife Investment Management LLC Purchases 5,355 Shares of SL Green Realty Corp. (NYSE:SLG)

MetLife Investment Management LLC grew its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 13.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,417 shares of the real estate investment trust's stock after purchasing an additional 5,355 shares during the period. MetLife Investment Management LLC owned approximately 0.07% of SL Green Realty worth $3,017,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SLG. Walleye Capital LLC purchased a new position in SL Green Realty during the fourth quarter worth about $857,000. Wolverine Asset Management LLC purchased a new position in shares of SL Green Realty during the fourth quarter worth about $337,000. Charles Schwab Investment Management Inc. increased its position in shares of SL Green Realty by 12.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust's stock worth $96,990,000 after purchasing an additional 159,870 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in SL Green Realty by 8.8% in the fourth 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 in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in SL Green Realty by 10.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust's stock valued at $6,870,000 after purchasing an additional 9,753 shares during the last quarter. Institutional investors own 89.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SLG. Truist Financial lowered their price objective on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating on the stock in a research report on Wednesday. Piper Sandler lowered their price target on SL Green Realty from $90.00 to $72.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Bank of America cut their price objective on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Evercore ISI upgraded SL Green Realty from an "in-line" rating to an "outperform" rating and reduced their price objective for the company from $74.00 to $73.00 in a research report on Monday, March 17th. Finally, Scotiabank dropped their target price on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $68.13.

SL Green Realty Price Performance

SLG stock opened at $54.37 on Friday. SL Green Realty Corp. has a 12-month low of $45.15 and a 12-month high of $82.81. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 679.63, a PEG ratio of 5.30 and a beta of 1.61. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The firm's 50-day moving average price is $56.93 and its two-hundred day moving average price is $66.29.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.13. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. The company had revenue of $144.52 million for the quarter, compared to analysts' expectations of $158.44 million. As a group, equities analysts predict that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Wednesday, April 30th. SL Green Realty's dividend payout ratio is currently -735.71%.

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.

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