Monument Capital Management Acquires New Position in SL Green Realty Corp. (NYSE:SLG)

Monument Capital Management acquired a new position in shares of SL Green Realty Corp. (NYSE:SLG) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,862 shares of the real estate investment trust’s stock, valued at approximately $323,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of SL Green Realty by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 10,324,945 shares of the real estate investment trust’s stock worth $466,378,000 after buying an additional 43,241 shares during the last quarter. Deutsche Bank AG increased its stake in SL Green Realty by 2,563.6% during the third quarter. Deutsche Bank AG now owns 1,999,279 shares of the real estate investment trust’s stock worth $74,573,000 after acquiring an additional 1,924,221 shares during the last quarter. Wellington Management Group LLP raised its position in SL Green Realty by 7.6% in the fourth quarter. Wellington Management Group LLP now owns 1,114,957 shares of the real estate investment trust’s stock valued at $50,363,000 after purchasing an additional 78,322 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of SL Green Realty by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,024,383 shares of the real estate investment trust’s stock valued at $46,271,000 after purchasing an additional 30,289 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of SL Green Realty by 11.1% during the 4th quarter. Russell Investments Group Ltd. now owns 641,163 shares of the real estate investment trust’s stock worth $29,100,000 after purchasing an additional 63,943 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of SL Green Realty from $43.00 to $44.00 and gave the company an “underweight” rating in a report on Thursday, April 25th. StockNews.com upgraded shares of SL Green Realty to a “sell” rating in a report on Wednesday, May 8th. BMO Capital Markets upgraded shares of SL Green Realty from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $56.00 to $58.00 in a report on Thursday, April 18th. Citigroup upped their price target on SL Green Realty from $31.00 to $37.00 and gave the stock a “sell” rating in a research note on Thursday, June 13th. Finally, Barclays raised SL Green Realty from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $35.00 to $48.00 in a research note on Wednesday, March 27th. Seven research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.62.

SL Green Realty Stock Performance

Shares of SL Green Realty stock opened at $56.43 on Thursday. The business has a 50-day simple moving average of $53.38 and a 200-day simple moving average of $49.92. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.96 and a current ratio of 2.96. SL Green Realty Corp. has a one year low of $28.55 and a one year high of $58.54. The company has a market cap of $3.72 billion, a PE ratio of -6.83, a P/E/G ratio of 1.03 and a beta of 1.83.

SL Green Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date is Friday, June 28th. SL Green Realty’s dividend payout ratio is presently -36.32%.

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.