SL Green Realty Corp. (NYSE:SLG) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in SL Green Realty Corp. (NYSE:SLG - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,893,454 shares of the real estate investment trust's stock after selling 19,595 shares during the period. Wellington Management Group LLP owned about 4.06% of SL Green Realty worth $196,523,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SLG. Point72 DIFC Ltd acquired a new stake in shares of SL Green Realty during the 3rd quarter worth about $35,000. Jones Financial Companies Lllp purchased a new position in SL Green Realty in the fourth quarter valued at approximately $39,000. Versant Capital Management Inc raised its holdings in SL Green Realty by 17.7% during the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 157 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of SL Green Realty during the 4th quarter worth approximately $88,000. Finally, Blue Trust Inc. boosted its holdings in shares of SL Green Realty by 106.3% in the 4th quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock valued at $116,000 after buying an additional 857 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SLG shares. 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 report on Monday, February 3rd. Barclays decreased their target price on SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Compass Point lifted their price target on SL Green Realty from $65.00 to $75.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. raised SL Green Realty from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. Finally, Scotiabank cut their target price on shares of SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, SL Green Realty has an average rating of "Hold" and an average target price of $69.87.

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Insiders Place Their Bets

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the business'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 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 Securities & Exchange Commission, which can be accessed through this link. 5.08% of the stock is currently owned by company insiders.

SL Green Realty Stock Performance

SLG traded down $2.13 during trading on Friday, reaching $50.59. The company's stock had a trading volume of 1,755,572 shares, compared to its average volume of 854,312. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. The company's fifty day moving average price is $61.97 and its 200-day moving average price is $68.56. SL Green Realty Corp. has a 52-week low of $47.22 and a 52-week high of $82.81. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 632.38, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, beating 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%. On average, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.2575 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.03 dividend on an annualized basis and a yield of 2.04%. This is an increase from SL Green Realty's previous quarterly dividend of $0.25. SL Green Realty's payout ratio is currently 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.