New Age Alpha Advisors LLC Makes New Investment in SL Green Realty Corp. (NYSE:SLG)

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

A number of other hedge funds have also recently added to or reduced their stakes in SLG. 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 period. Wolverine Asset Management LLC bought a new position in SL Green Realty in the 4th quarter valued at about $337,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of SL Green Realty by 8.8% in the 4th 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 buying an additional 6,158 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of SL Green Realty by 10.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust's stock worth $6,870,000 after acquiring an additional 9,753 shares during the period. Finally, FMR LLC boosted its position in shares of SL Green Realty by 69.1% during the 3rd quarter. FMR LLC now owns 58,185 shares of the real estate investment trust's stock worth $4,050,000 after acquiring an additional 23,780 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

Insider Buying and Selling at SL Green Realty

In other news, Director Craig M. Hatkoff sold 3,455 shares of the business's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the transaction, the director now directly owns 2,052 shares of the company's stock, valued at $136,047.60. The trade was a 62.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.08% of the company's stock.

SL Green Realty Trading Down 4.0 %

Shares of NYSE SLG traded down $2.13 during trading on Friday, reaching $50.59. The company had a trading volume of 1,755,572 shares, compared to its average volume of 854,174. The stock has a market cap of $3.61 billion, a P/E ratio of 632.38, a PEG ratio of 5.30 and a beta of 1.82. The company's fifty day moving average price is $61.66 and its 200-day moving average price is $68.42. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. 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 announced its 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, research 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 announced 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. This is a positive change from SL Green Realty's previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. This represents a $1.03 annualized dividend and a yield of 2.04%. SL Green Realty's payout ratio is presently 3,862.50%.

Analyst Ratings Changes

Several research firms have weighed in on SLG. Wells Fargo & Company cut their target price on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating for the company in a research note on Monday, February 3rd. Jefferies Financial Group initiated coverage on SL Green Realty in a research note on Monday, March 17th. They issued a "hold" rating and a $58.00 price objective on the stock. Compass Point boosted their target price on SL Green Realty from $65.00 to $75.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 11th. Mizuho raised their price target on shares of 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, Barclays lowered their price objective on shares of SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Two equities research 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. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $69.87.

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.