SL Green Realty Corp. (NYSE:SLG) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its stake in SL Green Realty Corp. (NYSE:SLG) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,150 shares of the real estate investment trust’s stock after acquiring an additional 2,362 shares during the period. Van ECK Associates Corp owned 0.05% of SL Green Realty worth $2,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in shares of SL Green Realty by 50.5% in the third quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock valued at $202,777,000 after buying an additional 977,321 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of SL Green Realty by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock valued at $88,275,000 after buying an additional 97,653 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of SL Green Realty by 396.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,170 shares of the real estate investment trust’s stock valued at $31,058,000 after buying an additional 356,275 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of SL Green Realty in the third quarter valued at about $18,811,000. Finally, Moody Aldrich Partners LLC raised its holdings in shares of SL Green Realty by 12.8% in the third quarter. Moody Aldrich Partners LLC now owns 117,926 shares of the real estate investment trust’s stock valued at $8,209,000 after buying an additional 13,427 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Ratings Changes

SLG has been the subject of a number of research reports. JPMorgan Chase & Co. raised shares of SL Green Realty from an “underweight” rating to a “neutral” rating and upped their target price for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. 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. Jefferies Financial Group cut their price target on shares of SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Truist Financial increased their price target 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. Finally, Compass Point increased their price target on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, SL Green Realty presently has a consensus rating of “Hold” and an average price target of $71.07.

Insider Activity

In other 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 sale, the director now directly owns 2,052 shares in the company, valued at $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.08% of the company’s stock.

SL Green Realty Trading Down 1.8 %

Shares of SL Green Realty stock opened at $64.50 on Friday. SL Green Realty Corp. has a 12-month low of $45.25 and a 12-month high of $82.81. The company has a current ratio of 3.21, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The stock has a market cap of $4.25 billion, a PE ratio of 806.29, a price-to-earnings-growth ratio of 5.42 and a beta of 1.82. The company has a 50-day moving average of $66.66 and a two-hundred day moving average of $69.56.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) 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 anticipate that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $0.2575 dividend. The ex-dividend date is Friday, February 28th. This represents a $3.09 annualized dividend and a dividend yield of 4.79%. SL Green Realty’s dividend payout ratio is presently 3,862.50%.

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.