Raymond James Financial Inc. Invests $1.28 Million in SL Green Realty Corp. (NYSE:SLG)

Raymond James Financial Inc. acquired a new stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 18,766 shares of the real estate investment trust's stock, valued at approximately $1,275,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerity Partners LLC lifted its position in shares of SL Green Realty by 105.3% in the 3rd quarter. Cerity Partners LLC now owns 13,276 shares of the real estate investment trust's stock valued at $924,000 after acquiring an additional 6,810 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in SL Green Realty by 1.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 41,419 shares of the real estate investment trust's stock valued at $2,883,000 after purchasing an additional 639 shares during the period. FMR LLC lifted its holdings in shares of SL Green Realty by 69.1% in the third quarter. FMR LLC now owns 58,185 shares of the real estate investment trust's stock valued at $4,050,000 after purchasing an additional 23,780 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of SL Green Realty by 10.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,057 shares of the real estate investment trust's stock worth $2,092,000 after buying an additional 2,874 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of SL Green Realty by 396.3% during 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 buying an additional 356,275 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Stock Performance

Shares of SL Green Realty stock traded down $0.79 on Monday, reaching $49.84. The stock had a trading volume of 1,799,940 shares, compared to its average volume of 857,951. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. The business's 50-day moving average price is $61.31 and its two-hundred day moving average price is $68.24. The stock has a market cap of $3.55 billion, a P/E ratio of 622.95, a price-to-earnings-growth ratio of 5.30 and a beta of 1.61. SL Green Realty Corp. has a fifty-two week low of $46.94 and a fifty-two week high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last released its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, topping 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, 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.2575 per share. This is an increase 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 yield of 2.07%. 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 firm's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.30, for a total value of $229,066.50. Following the sale, the director now directly owns 2,052 shares in the company, valued at $136,047.60. This trade represents a 62.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 5.08% of the company's stock.

Wall Street Analyst Weigh In

SLG has been the subject of several research analyst reports. Scotiabank reduced their price objective on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Bank of America dropped their price target on shares of SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Barclays reduced 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 report on Tuesday, January 28th. Wells Fargo & Company dropped their target price on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. Finally, Evercore ISI raised SL Green Realty from an "in-line" rating to an "outperform" rating and cut their price target for the stock from $74.00 to $73.00 in a research note on Monday, March 17th. Two 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 company. According to MarketBeat.com, SL Green Realty currently 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.