Proficio Capital Partners LLC Takes Position in SL Green Realty Corp. (NYSE:SLG)

Proficio Capital Partners LLC bought a new stake in SL Green Realty Corp. (NYSE:SLG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 113,438 shares of the real estate investment trust's stock, valued at approximately $7,705,000. Proficio Capital Partners LLC owned 0.17% of SL Green Realty as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC purchased a new stake in shares of SL Green Realty in the 4th quarter valued at $337,000. Sumitomo Mitsui Trust Group Inc. grew its position in 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 acquiring an additional 6,158 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in SL Green Realty by 10.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust's stock worth $6,870,000 after purchasing an additional 9,753 shares during the period. FMR LLC lifted its position in shares of SL Green Realty by 69.1% during the third quarter. FMR LLC now owns 58,185 shares of the real estate investment trust's stock worth $4,050,000 after purchasing an additional 23,780 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of SL Green Realty in the fourth quarter valued at approximately $452,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SLG shares. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $51.00 to $80.00 in a report on Tuesday, December 10th. Barclays cut their price objective on SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Jefferies Financial Group decreased their target price on SL Green Realty from $75.00 to $69.00 and set a "hold" rating for the company in a report on Thursday, January 2nd. Scotiabank cut their price target on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Finally, Mizuho lifted 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. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, SL Green Realty has an average rating of "Hold" and a consensus price target of $70.67.

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Insider Activity

In other news, Director Craig M. Hatkoff sold 3,455 shares of the firm'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 transaction of $229,066.50. Following the transaction, the director now directly owns 2,052 shares in the company, valued at approximately $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.08% of the company's stock.

SL Green Realty Stock Down 3.8 %

SLG traded down $2.37 on Thursday, reaching $59.46. The company's stock had a trading volume of 433,686 shares, compared to its average volume of 854,783. 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 fifty-two week low of $47.22 and a fifty-two week high of $82.81. The stock has a 50 day moving average of $65.27 and a two-hundred day moving average of $69.67. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 746.39, 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 earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 5.20%. The ex-dividend date is Friday, February 28th. SL Green Realty's dividend payout ratio (DPR) is currently 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.