Principal Financial Group Inc. Acquires 37,163 Shares of SL Green Realty Corp. (NYSE:SLG)

Principal Financial Group Inc. grew its holdings in SL Green Realty Corp. (NYSE:SLG - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 342,758 shares of the real estate investment trust's stock after acquiring an additional 37,163 shares during the quarter. Principal Financial Group Inc. owned 0.52% of SL Green Realty worth $23,280,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SLG. Wellington Management Group LLP boosted its position in shares of SL Green Realty by 50.5% in 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of SL Green Realty by 396.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,170 shares of the real estate investment trust's stock valued at $31,058,000 after acquiring an additional 356,275 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of SL Green Realty in the third quarter valued at about $18,811,000. Charles Schwab Investment Management Inc. boosted its position in shares of SL Green Realty by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust's stock valued at $88,275,000 after acquiring an additional 97,653 shares during the period. Finally, Barclays PLC boosted its position in shares of SL Green Realty by 304.8% in the third quarter. Barclays PLC now owns 110,866 shares of the real estate investment trust's stock valued at $7,718,000 after acquiring an additional 83,478 shares during the period. Institutional investors own 89.96% of the company's stock.

Analyst Upgrades and Downgrades

SLG has been the subject of a number of recent research reports. Mizuho boosted their target price on shares of SL Green Realty from $45.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Bank of America dropped their price target on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Truist Financial boosted their price target on SL Green Realty from $61.00 to $62.00 and gave the company a "hold" rating in a research note on Monday, January 27th. Jefferies Financial Group dropped their price target on SL Green Realty from $75.00 to $69.00 and set a "hold" rating for the company in a research note on Thursday, January 2nd. Finally, Barclays dropped their price target 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. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, SL Green Realty presently has an average rating of "Hold" and an average target price of $71.07.

SL Green Realty Stock Down 2.7 %

Shares of NYSE SLG opened at $62.72 on Monday. The company has a 50 day simple moving average of $66.26 and a 200 day simple moving average of $69.60. The firm has a market cap of $4.14 billion, a PE ratio of 784.05, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. SL Green Realty Corp. has a 1 year low of $45.87 and a 1 year high of $82.81. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58.

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, beating analysts' consensus estimates 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, research analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $0.2575 per share. This represents a $3.09 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Friday, February 28th. SL Green Realty's dividend payout ratio is presently 3,862.50%.

Insider Buying and Selling at SL Green Realty

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

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.

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