Mitsubishi UFJ Asset Management Co. Ltd. Purchases 5,037 Shares of SL Green Realty Corp. (NYSE:SLG)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in SL Green Realty Corp. (NYSE:SLG - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,915 shares of the real estate investment trust's stock after purchasing an additional 5,037 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.07% of SL Green Realty worth $3,194,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in SL Green Realty by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust's stock valued at $735,594,000 after buying an additional 564,822 shares during the last quarter. Wellington Management Group LLP increased its position in shares of SL Green Realty by 50.5% during the third quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust's stock valued at $202,777,000 after acquiring an additional 977,321 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in SL Green Realty by 12.6% during 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 acquiring an additional 159,870 shares during the period. Prudential Financial Inc. boosted its position in SL Green Realty by 14.4% in the fourth quarter. Prudential Financial Inc. now owns 807,806 shares of the real estate investment trust's stock worth $54,866,000 after purchasing an additional 101,691 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in SL Green Realty by 1.8% in the 4th quarter. Allianz Asset Management GmbH now owns 534,159 shares of the real estate investment trust's stock valued at $36,280,000 after purchasing an additional 9,299 shares during the period. 89.96% of the stock is owned by institutional investors.

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Analyst Ratings Changes

A number of equities analysts recently weighed in on SLG shares. Jefferies Financial Group started coverage on shares of SL Green Realty in a report on Monday, March 17th. They issued a "hold" rating and a $58.00 price target on the stock. Scotiabank dropped 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 note on Friday, February 28th. Evercore ISI upgraded shares of SL Green Realty from an "in-line" rating to an "outperform" rating and decreased their price target for the stock from $74.00 to $73.00 in a research note on Monday, March 17th. Mizuho upped their price objective on SL Green Realty from $45.00 to $67.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Finally, Morgan Stanley increased their price objective on SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a report on Wednesday, March 12th. Two equities 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 stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $69.87.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the company's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of the transaction, the director now directly owns 2,052 shares in the company, valued at $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.08% of the company's stock.

SL Green Realty Trading Down 9.8 %

Shares of NYSE SLG traded down $5.72 during midday trading on Thursday, hitting $52.76. 1,511,723 shares of the company traded hands, compared to its average volume of 852,272. The stock has a 50-day moving average price of $62.23 and a 200 day moving average price of $68.68. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. The firm has a market cap of $3.76 billion, a P/E ratio of 659.50, a P/E/G ratio of 5.30 and a beta of 1.82. SL Green Realty Corp. has a 12-month low of $47.22 and a 12-month high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last released its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS 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%. As a group, analysts expect that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.2575 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.03 annualized dividend and a dividend yield of 1.95%. This is a positive change from SL Green Realty's previous quarterly dividend of $0.25. SL Green Realty's payout ratio is presently 3,862.50%.

About SL Green Realty

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.