Blue Trust Inc. Has $116,000 Position in SL Green Realty Corp. (NYSE:SLG)

Blue Trust Inc. increased its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 106.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,663 shares of the real estate investment trust’s stock after purchasing an additional 857 shares during the period. Blue Trust Inc.’s holdings in SL Green Realty were worth $116,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Rosenberg Matthew Hamilton raised its holdings in SL Green Realty by 6.6% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock valued at $161,000 after acquiring an additional 144 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of SL Green Realty by 4.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock valued at $262,000 after purchasing an additional 148 shares in the last quarter. Versant Capital Management Inc boosted 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 worth $71,000 after buying an additional 157 shares in the last quarter. MML Investors Services LLC increased its holdings 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 buying an additional 161 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of SL Green Realty by 5.1% in the 4th quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 203 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

SLG has been the subject of several recent research reports. Barclays dropped their price target on shares of 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. Scotiabank upped their price target on SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. Jefferies Financial Group reduced their target price on shares of SL Green Realty from $75.00 to $69.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Bank of America cut their price target on shares of SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Finally, Wells Fargo & Company dropped their price target on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating for the company in a report on Monday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $71.07.

SL Green Realty Price Performance

Shares of SLG opened at $66.79 on Friday. The stock has a market cap of $4.40 billion, a P/E ratio of 834.86, a price-to-earnings-growth ratio of 5.54 and a beta of 1.82. The stock’s 50-day moving average price is $68.73 and its two-hundred day moving average price is $69.51. The company has a current ratio of 3.21, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. SL Green Realty Corp. has a 1 year low of $41.88 and a 1 year high of $82.81.

SL Green Realty (NYSE:SLG) last posted its 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%. On average, equities analysts predict that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be issued a dividend of $0.2575 per share. The ex-dividend date is Friday, January 31st. This represents a $3.09 dividend on an annualized basis and a dividend yield of 4.63%. SL Green Realty’s payout ratio is presently 3,862.50%.

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 stock was sold at an average price of $66.30, for a total transaction of $229,066.50. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.08% of the stock is currently owned by insiders.

About SL Green Realty

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.