Wellington Management Group LLP Lowers Position in SL Green Realty Corp. (NYSE:SLG)

Wellington Management Group LLP trimmed its holdings in SL Green Realty Corp. (NYSE:SLG - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent 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 quarter. Wellington Management Group LLP owned about 4.06% of SL Green Realty worth $196,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

SL Green Realty Stock Performance

Shares of SLG traded down $0.79 on Monday, reaching $49.84. The company's stock had a trading volume of 1,799,940 shares, compared to its average volume of 857,953. The stock's 50 day simple moving average is $61.31 and its two-hundred day simple moving average is $68.24. 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 stock has a market capitalization of $3.55 billion, a P/E ratio of 622.95, a PEG ratio of 5.30 and a beta of 1.61. SL Green Realty Corp. has a 12-month low of $46.92 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 earnings per share 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%. Research 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.2575 dividend. This is a boost from SL Green Realty's previous quarterly dividend of $0.25. 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 2.07%. SL Green Realty's dividend payout ratio is presently 3,862.50%.

Analysts Set New Price Targets

Several research firms have recently issued reports on SLG. Wells Fargo & Company lowered their price target on 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. Truist Financial upped their target price on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a "hold" rating in a research note on Monday, January 27th. Evercore ISI raised shares of SL Green Realty from an "in-line" rating to an "outperform" rating and reduced their price target for the company from $74.00 to $73.00 in a research report on Monday, March 17th. Bank of America lowered their price objective on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised SL Green Realty from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $51.00 to $80.00 in a report on Tuesday, December 10th. Two research 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 data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $69.87.

Insider Transactions at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 2,052 shares of the company's stock, valued at approximately $136,047.60. This represents a 62.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate 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.