Vanguard Group Inc. Purchases 564,822 Shares of SL Green Realty Corp. (NYSE:SLG)

Vanguard Group Inc. lifted its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,830,293 shares of the real estate investment trust's stock after acquiring an additional 564,822 shares during the period. Vanguard Group Inc. owned 16.43% of SL Green Realty worth $735,594,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Citigroup Inc. grew its holdings in SL Green Realty by 54.6% during the third quarter. Citigroup Inc. now owns 85,587 shares of the real estate investment trust's stock worth $5,958,000 after acquiring an additional 30,220 shares during the period. Cerity Partners LLC grew its stake in shares of SL Green Realty by 105.3% in the 3rd quarter. Cerity Partners LLC now owns 13,276 shares of the real estate investment trust's stock worth $924,000 after purchasing an additional 6,810 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of SL Green Realty by 1.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 41,419 shares of the real estate investment trust's stock worth $2,883,000 after purchasing an additional 639 shares in the last quarter. FMR LLC lifted its stake in SL Green Realty by 69.1% during the third quarter. FMR LLC now owns 58,185 shares of the real estate investment trust's stock valued at $4,050,000 after purchasing an additional 23,780 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in SL Green Realty by 17.5% during the third quarter. Glenmede Trust Co. NA now owns 15,721 shares of the real estate investment trust's stock worth $1,094,000 after buying an additional 2,337 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Compass Point upped their price target on SL Green Realty from $65.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, December 11th. 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 report on Tuesday, January 28th. Mizuho increased their price target on SL Green Realty from $45.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Morgan Stanley boosted their price objective on SL Green Realty from $52.00 to $55.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 12th. Finally, Truist Financial raised their target price on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a "hold" rating in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, SL Green Realty presently has a consensus rating of "Hold" and a consensus price target of $69.87.

SL Green Realty Stock Down 7.9 %

NYSE:SLG traded down $4.61 during mid-day trading on Thursday, reaching $53.87. The stock had a trading volume of 640,189 shares, compared to its average volume of 774,016. 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 fifty-two week low of $47.22 and a fifty-two week high of $82.81. The business's 50 day moving average is $62.23 and its 200 day moving average is $68.68. The stock has a market cap of $3.84 billion, a P/E ratio of 673.38, a PEG ratio of 5.30 and a beta of 1.82.

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 (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, sell-side analysts predict that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Increases Dividend

The firm also recently announced 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. The ex-dividend date is Monday, March 31st. This represents a $1.03 dividend on an annualized basis and a yield of 1.91%. This is a positive change from SL Green Realty's previous quarterly dividend of $0.25. SL Green Realty's dividend payout ratio (DPR) is 3,862.50%.

Insider Buying and Selling

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of the sale, the director now owns 2,052 shares in the company, valued at approximately $136,047.60. This trade represents a 62.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.08% of the stock is currently owned by insiders.

About SL Green Realty

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.