Russell Investments Group Ltd. Sells 67,496 Shares of SL Green Realty Corp. (NYSE:SLG)

Russell Investments Group Ltd. lessened its holdings in SL Green Realty Corp. (NYSE:SLG - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 720,013 shares of the real estate investment trust's stock after selling 67,496 shares during the quarter. Russell Investments Group Ltd. owned 1.09% of SL Green Realty worth $48,902,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new stake in shares of SL Green Realty in the 3rd quarter valued at approximately $35,000. Jones Financial Companies Lllp acquired a new position in shares of SL Green Realty during the 4th quarter worth about $39,000. Versant Capital Management Inc increased its stake in shares of SL Green Realty by 17.7% during the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 157 shares during the last quarter. Summit Securities Group LLC acquired a new stake in SL Green Realty in the 4th quarter valued at about $88,000. Finally, Blue Trust Inc. grew its holdings in SL Green Realty by 106.3% during the fourth quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock worth $116,000 after purchasing an additional 857 shares during the period. Institutional investors own 89.96% of the company's stock.

Insider Buying and Selling

In related news, Director Craig M. Hatkoff sold 3,455 shares of the business's stock in a transaction 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 owns 2,052 shares in the company, valued at $136,047.60. The trade was a 62.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Bank of America reduced their target price 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. Jefferies Financial Group initiated coverage on shares of SL Green Realty in a research note on Monday, March 17th. They set a "hold" rating and a $58.00 target price for the company. Evercore ISI upgraded SL Green Realty from an "in-line" rating to an "outperform" rating and lowered their target price for the stock from $74.00 to $73.00 in a research note on Monday, March 17th. Morgan Stanley upped their price objective on SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a report on Wednesday, March 12th. Finally, Scotiabank dropped their target price on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $69.87.

SL Green Realty Price Performance

Shares of NYSE SLG traded up $0.45 during trading hours on Friday, hitting $49.69. 1,239,512 shares of the stock were exchanged, compared to its average volume of 864,700. 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 $45.15 and a 1-year high of $82.81. The company has a market cap of $3.54 billion, a PE ratio of 621.06, a price-to-earnings-growth ratio of 5.30 and a beta of 1.61. The company's fifty day simple moving average is $59.43 and its two-hundred day simple moving average is $67.38.

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 EPS for the quarter, topping the consensus estimate of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. On average, sell-side analysts predict that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Monday, March 31st. This is a positive change from SL Green Realty's previous quarterly dividend of $0.25. 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.