Sei Investments Co. Purchases 34,483 Shares of SL Green Realty Corp. (NYSE:SLG)

Sei Investments Co. raised its holdings in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 69.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,155 shares of the real estate investment trust's stock after purchasing an additional 34,483 shares during the period. Sei Investments Co. owned 0.13% of SL Green Realty worth $5,716,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Point72 DIFC Ltd acquired a new position in SL Green Realty in the third quarter valued at about $35,000. Jones Financial Companies Lllp bought a new stake in SL Green Realty in the fourth quarter valued at approximately $39,000. Versant Capital Management Inc raised its holdings in SL Green Realty by 17.7% in the fourth 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 period. Blue Trust Inc. grew its holdings in shares of SL Green Realty by 106.3% in the 4th quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock valued at $116,000 after buying an additional 857 shares during the period. Finally, Game Plan Financial Advisors LLC bought a new stake in shares of SL Green Realty in the 4th quarter valued at $149,000. Institutional investors own 89.96% of the company's stock.

Insider Buying and Selling at SL Green Realty

In other 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 completion of the sale, the director now owns 2,052 shares of the company's stock, valued at $136,047.60. The trade was a 62.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.08% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research firms have recently commented on SLG. Wells Fargo & Company dropped their price target 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. Scotiabank reduced their price target on shares of 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. Mizuho raised their price objective on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Evercore ISI raised shares of SL Green Realty from an "in-line" rating to an "outperform" rating and reduced their target price for the stock from $74.00 to $73.00 in a research note on Monday, March 17th. Finally, Barclays dropped their price target on SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $69.87.

SL Green Realty Stock Performance

NYSE:SLG traded down $5.72 during trading hours on Thursday, reaching $52.76. The stock had a trading volume of 1,511,723 shares, compared to its average volume of 852,272. SL Green Realty Corp. has a 12-month low of $47.22 and a 12-month high of $82.81. The stock has a 50 day simple moving average of $62.23 and a 200 day simple moving average of $68.68. The stock has a market cap of $3.76 billion, a P/E ratio of 659.50, 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 (NYSE:SLG - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share 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 fiscal year.

SL Green Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 1.95%. 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. SL Green Realty's dividend payout ratio is 3,862.50%.

SL Green Realty Company 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.