Wells Fargo & Company MN Has $10.60 Million Stock Position in SL Green Realty Corp. (NYSE:SLG)

Wells Fargo & Company MN boosted its stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 5.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 156,047 shares of the real estate investment trust's stock after purchasing an additional 8,664 shares during the period. Wells Fargo & Company MN owned about 0.24% of SL Green Realty worth $10,599,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its holdings in SL Green Realty by 17.7% in the 4th 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 during the last quarter. MML Investors Services LLC raised its position 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 valued at $427,000 after purchasing an additional 161 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of SL Green Realty by 5.1% during the fourth 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 increased its position in SL Green Realty by 1.3% in the fourth quarter. Natixis Advisors LLC now owns 21,820 shares of the real estate investment trust's stock worth $1,482,000 after purchasing an additional 284 shares during the period. Finally, Ieq Capital LLC lifted its stake in shares of SL Green Realty by 9.3% in 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 during the period. Institutional investors and hedge funds own 89.96% of the company's stock.

Insider Activity at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the firm's 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 sale, the director now directly owns 2,052 shares of the company's stock, valued at $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.08% of the stock is currently owned by corporate insiders.

SL Green Realty Trading Up 0.5 %

SLG opened at $52.40 on Thursday. The firm has a market capitalization of $3.74 billion, a PE ratio of 655.00, a P/E/G ratio of 5.30 and a beta of 1.61. 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 $45.15 and a fifty-two week high of $82.81. The company's 50-day moving average is $58.57 and its 200 day moving average is $67.03.

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 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, research 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.2575 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.03 annualized dividend and a dividend yield of 1.97%. This is a positive change from SL Green Realty's previous quarterly dividend of $0.25. SL Green Realty's payout ratio is 3,862.50%.

Wall Street Analysts Forecast Growth

SLG has been the topic of several recent analyst reports. Truist Financial lifted their price objective on SL Green Realty from $61.00 to $62.00 and gave the company a "hold" rating in a report on Monday, January 27th. Evercore ISI upgraded shares of SL Green Realty from an "in-line" rating to an "outperform" rating and cut their price objective for the stock from $74.00 to $73.00 in a research report on Monday, March 17th. Mizuho upped their target price 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. Bank of America lowered their target price on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Finally, Morgan Stanley raised their price objective 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. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $69.87.

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.

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