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

Raymond James Financial Inc. bought a new position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 18,766 shares of the real estate investment trust's stock, valued at approximately $1,275,000.

A number of other institutional investors have also made changes to their positions in SLG. Wellington Management Group LLP boosted its position in shares of SL Green Realty by 50.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust's stock worth $202,777,000 after purchasing 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% 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 worth $31,058,000 after buying an additional 356,275 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of SL Green Realty in the third quarter valued at $18,811,000. Charles Schwab Investment Management Inc. raised its holdings in shares of SL Green Realty by 12.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust's stock valued at $96,990,000 after buying an additional 159,870 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in SL Green Realty during the 4th quarter worth about $7,705,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 2,052 shares of the company's stock, valued at approximately $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SLG. Bank of America cut 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. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $51.00 to $80.00 in a research note on Tuesday, December 10th. Mizuho upped their price objective on SL Green Realty from $45.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. Wells Fargo & Company decreased their target price on 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, Barclays cut their price target on SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $69.87.

SL Green Realty Stock Down 4.0 %

SLG stock traded down $2.13 during midday trading on Friday, reaching $50.59. 1,755,572 shares of the company were exchanged, compared to its average volume of 854,312. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 632.38, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. 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 1-year low of $47.22 and a 1-year high of $82.81. The stock's 50-day simple moving average is $61.66 and its 200 day simple moving average is $68.43.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 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, equities analysts forecast 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 given a $0.2575 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from SL Green Realty's previous quarterly dividend of $0.25. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.04%. SL Green Realty's dividend payout ratio is 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.