New Age Alpha Advisors LLC Buys Shares of 9,790 SL Green Realty Corp. (NYSE:SLG)

New Age Alpha Advisors LLC purchased a new position in SL Green Realty Corp. (NYSE:SLG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,790 shares of the real estate investment trust's stock, valued at approximately $665,000.

A number of other institutional investors have also added to or reduced their stakes in SLG. Versant Capital Management Inc grew its stake in SL Green Realty by 17.7% during the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock valued at $71,000 after acquiring an additional 157 shares in the last quarter. MML Investors Services LLC increased its holdings in shares of SL Green Realty by 2.7% in the third quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust's stock worth $427,000 after purchasing an additional 161 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of SL Green Realty by 5.1% in the fourth quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust's stock worth $285,000 after buying an additional 203 shares in the last quarter. Natixis Advisors LLC boosted its stake in SL Green Realty by 1.3% during the fourth quarter. Natixis Advisors LLC now owns 21,820 shares of the real estate investment trust's stock valued at $1,482,000 after buying an additional 284 shares during the last quarter. Finally, Ieq Capital LLC grew its holdings in SL Green Realty by 9.3% during the 4th quarter. Ieq Capital LLC now owns 4,542 shares of the real estate investment trust's stock valued at $308,000 after buying an additional 387 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SLG. Evercore ISI upgraded shares of SL Green Realty from an "in-line" rating to an "outperform" rating and decreased their target price for the company from $74.00 to $73.00 in a research report on Monday, March 17th. Barclays lowered their price objective on SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Scotiabank cut their target price on 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. JPMorgan Chase & Co. upgraded SL Green Realty from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $51.00 to $80.00 in a research report on Tuesday, December 10th. Finally, Truist Financial lifted their price objective on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a "hold" rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $69.87.

Insider Activity at SL Green Realty

In other news, Director Craig M. Hatkoff sold 3,455 shares of the business's stock in a transaction on Friday, January 24th. The stock was 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 of the company's stock, valued at approximately $136,047.60. The trade was a 62.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.08% of the stock is currently owned by corporate insiders.

SL Green Realty Trading Up 1.0 %

NYSE:SLG traded up $0.60 during midday 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 quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average of $62.41 and a 200 day moving average of $68.75. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 732.25, a PEG ratio of 5.30 and a beta of 1.82. SL Green Realty Corp. has a one year low of $47.22 and a one year high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, beating 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, sell-side analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Increases Dividend

The firm 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 dividend of $0.2575 per share. The ex-dividend date is Monday, March 31st. This is an increase from SL Green Realty's previous quarterly dividend of $0.25. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.76%. SL Green Realty's dividend payout ratio (DPR) is currently 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.