OVERSEA CHINESE BANKING Corp Ltd Raises Stock Position in SL Green Realty Corp. (NYSE:SLG)

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 27.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,026 shares of the real estate investment trust's stock after purchasing an additional 7,892 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned about 0.06% of SL Green Realty worth $2,515,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc boosted 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 acquiring an additional 157 shares in the last quarter. MML Investors Services LLC boosted its stake in SL Green Realty by 2.7% in the 3rd quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust's stock worth $427,000 after purchasing an additional 161 shares in the last quarter. GAMMA Investing LLC grew its position in SL Green Realty by 5.1% during the 4th quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust's stock valued at $285,000 after purchasing an additional 203 shares during the last quarter. Natixis Advisors LLC grew its position in SL Green Realty by 1.3% during 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 increased its stake in SL Green Realty by 9.3% during the 4th quarter. Ieq Capital LLC now owns 4,542 shares of the real estate investment trust's stock valued at $308,000 after purchasing an additional 387 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SLG shares. Morgan Stanley increased their price target 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. Barclays cut their target price 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. Scotiabank reduced 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. JPMorgan Chase & Co. raised SL Green Realty from an "underweight" rating to a "neutral" rating and upped their price target for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. Finally, Wells Fargo & Company reduced their price objective 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. 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $69.87.

Insider Buying and Selling

In other news, Director Craig M. Hatkoff sold 3,455 shares of the company's stock in a transaction dated Friday, January 24th. The shares were 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. This represents a 62.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.08% of the stock is owned by company insiders.

SL Green Realty Stock Performance

Shares of SLG stock traded up $2.10 during trading hours on Monday, reaching $59.49. 451,090 shares of the company traded hands, compared to its average volume of 835,428. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. SL Green Realty Corp. has a 12-month low of $47.22 and a 12-month high of $82.81. The company has a market cap of $4.24 billion, a P/E ratio of 743.59, a P/E/G ratio of 5.30 and a beta of 1.82. The firm has a 50-day moving average price of $63.33 and a 200 day moving average price of $69.09.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, beating 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, sell-side analysts predict that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 1.73%. 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 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.