Nomura Asset Management Co. Ltd. Increases Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

Nomura Asset Management Co. Ltd. lifted its holdings in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 15.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,080 shares of the real estate investment trust's stock after buying an additional 12,530 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.14% of SL Green Realty worth $6,390,000 at the end of the most recent quarter.

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

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Insider Buying and Selling

In other news, Director Craig M. Hatkoff sold 3,455 shares of the firm'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 owns 2,052 shares in the company, valued at $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SLG has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded SL Green Realty from an "underweight" rating to a "neutral" rating and increased their target price for the company from $51.00 to $80.00 in a research note on Tuesday, December 10th. Jefferies Financial Group initiated coverage on shares of SL Green Realty in a report on Monday, March 17th. They issued a "hold" rating and a $58.00 target price for the company. Barclays decreased their price target on shares of SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company cut their target price on shares of SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. 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 research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $69.87.

SL Green Realty Stock Performance

Shares of SLG stock traded up $0.60 during mid-day trading on Wednesday, hitting $58.58. 453,539 shares of the stock were exchanged, compared to its average volume of 849,507. The stock's fifty day simple moving average is $62.41 and its two-hundred day simple moving average is $68.75. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. SL Green Realty Corp. has a 12-month low of $47.22 and a 12-month high of $82.81. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 732.25, a P/E/G ratio of 5.30 and a beta of 1.82.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. On average, analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.2575 dividend. This is a boost from SL Green Realty's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.03 annualized dividend and a dividend yield of 1.76%. SL Green Realty's dividend payout ratio (DPR) is 3,862.50%.

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.