Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

Sumitomo Mitsui Trust Group Inc. grew its position in SL Green Realty Corp. (NYSE:SLG - Free Report) by 8.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 76,367 shares of the real estate investment trust's stock after buying an additional 6,158 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.12% of SL Green Realty worth $5,187,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. State of Alaska Department of Revenue raised its holdings in SL Green Realty by 8.7% in the fourth quarter. State of Alaska Department of Revenue now owns 73,919 shares of the real estate investment trust's stock worth $5,019,000 after buying an additional 5,928 shares during the last quarter. Vanderbilt University bought a new stake in shares of SL Green Realty in the fourth quarter worth approximately $258,000. Yousif Capital Management LLC grew its stake in shares of SL Green Realty by 5.7% in the fourth quarter. Yousif Capital Management LLC now owns 28,076 shares of the real estate investment trust's stock worth $1,907,000 after acquiring an additional 1,517 shares during the period. abrdn plc grew its stake in shares of SL Green Realty by 71.7% in the fourth quarter. abrdn plc now owns 22,137 shares of the real estate investment trust's stock worth $1,467,000 after acquiring an additional 9,246 shares during the period. Finally, Custom Index Systems LLC bought a new stake in shares of SL Green Realty in the fourth quarter worth approximately $205,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating for the company in a research note on Monday, February 3rd. Jefferies Financial Group reduced their price target on shares of SL Green Realty from $75.00 to $69.00 and set a "hold" rating for the company in a research note on Thursday, January 2nd. Barclays reduced 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. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $51.00 to $80.00 in a research report on Tuesday, December 10th. Finally, Truist Financial boosted their target price on shares of SL Green Realty from $61.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, SL Green Realty has a consensus rating of "Hold" and an average price target of $71.07.

SL Green Realty Price Performance

Shares of SLG traded up $0.13 during mid-day trading on Monday, reaching $64.61. The stock had a trading volume of 452,425 shares, compared to its average volume of 780,111. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of 807.56, a PEG ratio of 5.49 and a beta of 1.82. SL Green Realty Corp. has a 12 month low of $43.69 and a 12 month high of $82.81. The business has a fifty day moving average of $67.23 and a 200 day moving average of $69.58. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 3.21.

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 EPS for the quarter, topping the consensus estimate 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%. Equities analysts predict that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be issued a $0.2575 dividend. This represents a $3.09 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend is Friday, January 31st. SL Green Realty's dividend payout ratio (DPR) is presently 3,862.50%.

Insider Transactions 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 value of $229,066.50. Following the transaction, the director now owns 2,052 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.