Zurcher Kantonalbank Zurich Cantonalbank Purchases 14,096 Shares of SL Green Realty Corp. (NYSE:SLG)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in SL Green Realty Corp. (NYSE:SLG - Free Report) by 46.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,153 shares of the real estate investment trust's stock after acquiring an additional 14,096 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of SL Green Realty worth $2,999,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SLG. Venturi Wealth Management LLC boosted its holdings in SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 272 shares during the period. Point72 DIFC Ltd bought a new position in SL Green Realty in the third quarter valued at approximately $35,000. Jones Financial Companies Lllp bought a new stake in shares of SL Green Realty in the fourth quarter worth about $39,000. Versant Capital Management Inc grew its stake in shares of SL Green Realty by 17.7% during the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 157 shares in the last quarter. 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 during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

SLG has been the subject of several research reports. Barclays cut their price target on SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating for the company in a report on Tuesday, January 28th. Truist Financial lifted 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. Evercore ISI raised shares of SL Green Realty from an "in-line" rating to an "outperform" rating and lowered their price target for the company from $74.00 to $73.00 in a report on Monday. 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, JPMorgan Chase & Co. raised SL Green Realty from an "underweight" rating to a "neutral" rating and upped their price objective for the company 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 assigned a buy rating to the company. Based on data from MarketBeat.com, SL Green Realty has a consensus rating of "Hold" and a consensus price target of $69.87.

SL Green Realty Trading Up 1.5 %

Shares of NYSE:SLG traded up $0.85 during mid-day trading on Wednesday, reaching $58.68. 453,489 shares of the company's stock were exchanged, compared to its average volume of 795,454. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 733.50, a PEG ratio of 5.30 and a beta of 1.82. The business's fifty day moving average price is $63.66 and its 200-day moving average price is $69.24. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. SL Green Realty Corp. has a twelve month low of $47.22 and a twelve month high of $82.81.

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 earnings per share for the quarter, beating analysts' consensus estimates 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%. On average, research analysts predict that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.2575 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $3.09 dividend on an annualized basis and a yield of 5.27%. SL Green Realty's dividend payout ratio (DPR) is currently 3,862.50%.

Insider Transactions at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.08% of the company's stock.

SL Green Realty 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.