Thrivent Financial for Lutherans Buys 6,882 Shares of SL Green Realty Corp. (NYSE:SLG)

Thrivent Financial for Lutherans increased its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 13.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,780 shares of the real estate investment trust's stock after purchasing an additional 6,882 shares during the period. Thrivent Financial for Lutherans owned approximately 0.09% of SL Green Realty worth $3,924,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its position 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 valued at $71,000 after purchasing an additional 157 shares in the last quarter. MML Investors Services LLC raised its position in SL Green Realty by 2.7% during the third quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust's stock worth $427,000 after acquiring an additional 161 shares in the last quarter. GAMMA Investing LLC raised its position in SL Green Realty by 5.1% during the fourth quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust's stock worth $285,000 after acquiring an additional 203 shares in the last quarter. Natixis Advisors LLC lifted its stake in SL Green Realty by 1.3% in the 4th quarter. Natixis Advisors LLC now owns 21,820 shares of the real estate investment trust's stock valued at $1,482,000 after purchasing an additional 284 shares during the last quarter. Finally, Ieq Capital LLC grew its holdings in SL Green Realty by 9.3% during the fourth quarter. Ieq Capital LLC now owns 4,542 shares of the real estate investment trust's stock worth $308,000 after purchasing an additional 387 shares during the period. Institutional investors own 89.96% of the company's stock.

Remove Ads

SL Green Realty Price Performance

SL Green Realty stock traded down $0.80 during mid-day trading on Friday, reaching $57.53. 470,529 shares of the company were exchanged, compared to its average volume of 853,590. The firm has a market cap of $4.10 billion, a PE ratio of 719.15, a PEG ratio of 5.30 and a beta of 1.82. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. The company has a fifty day simple moving average of $62.75 and a 200-day simple moving average of $68.89. SL Green Realty Corp. has a 12 month low of $47.22 and a 12 month high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, topping analysts' consensus estimates 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 expect that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Monday, March 31st. This is an increase from SL Green Realty's previous quarterly dividend of $0.25. SL Green Realty's dividend payout ratio is 3,862.50%.

Insider Buying and Selling

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the company's stock in a transaction on Friday, January 24th. The stock was 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 directly owns 2,052 shares in the company, valued at $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SLG. Jefferies Financial Group initiated coverage on SL Green Realty in a research report on Monday, March 17th. They issued a "hold" rating and a $58.00 price objective for the company. Wells Fargo & Company cut their price target 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. Morgan Stanley upped their price objective on shares of SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an "underweight" rating to a "neutral" rating and raised their target price for the stock from $51.00 to $80.00 in a research note on Tuesday, December 10th. Finally, 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 report on Monday, March 17th. Two 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.com, the stock has a consensus rating of "Hold" and a consensus target price of $69.87.

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.