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

Sei Investments Co. boosted its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 69.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 about 0.13% of SL Green Realty worth $5,716,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SLG. American Century Companies Inc. boosted its position in SL Green Realty by 28.9% during the 4th quarter. American Century Companies Inc. now owns 106,807 shares of the real estate investment trust's stock worth $7,254,000 after acquiring an additional 23,977 shares during the last quarter. Runnymede Capital Advisors Inc. bought a new stake in shares of SL Green Realty in the fourth quarter worth $163,000. Quantbot Technologies LP boosted its holdings in SL Green Realty by 176.3% during the fourth quarter. Quantbot Technologies LP now owns 95,043 shares of the real estate investment trust's stock worth $6,455,000 after purchasing an additional 60,649 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in SL Green Realty by 50.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,886 shares of the real estate investment trust's stock valued at $2,573,000 after purchasing an additional 12,681 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its position in SL Green Realty by 27.1% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 37,026 shares of the real estate investment trust's stock valued at $2,515,000 after purchasing an additional 7,892 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Morgan Stanley raised 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. Barclays cut their price target on shares of SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Jefferies Financial Group started coverage on shares of SL Green Realty in a research note on Monday, March 17th. They set a "hold" rating and a $58.00 price objective on the stock. Evercore ISI upgraded shares of SL Green Realty from an "in-line" rating to an "outperform" rating and cut their target price for the company from $74.00 to $73.00 in a research note on Monday, March 17th. Finally, JPMorgan Chase & Co. raised 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 report on Tuesday, December 10th. Two equities 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 stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $69.87.

SL Green Realty Price Performance

Shares of NYSE:SLG traded down $2.13 during midday trading on Friday, hitting $50.59. The stock had a trading volume of 1,755,572 shares, compared to its average volume of 854,174. The company's 50-day moving average price is $61.66 and its 200-day moving average price is $68.39. SL Green Realty Corp. has a fifty-two week low of $47.22 and a fifty-two week high of $82.81. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $3.61 billion, a P/E ratio of 632.38, a price-to-earnings-growth ratio of 5.30 and a beta of 1.61.

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 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%. As a group, equities research analysts predict that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.2575 dividend. 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 2.04%. SL Green Realty's dividend payout ratio is presently 3,862.50%.

Insiders Place Their Bets

In other news, Director Craig M. Hatkoff sold 3,455 shares of the business's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $66.30, for a total transaction of $229,066.50. Following the sale, the director now directly owns 2,052 shares in the company, valued at approximately $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.08% of the company's stock.

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.