Proficio Capital Partners LLC Invests $7.71 Million in SL Green Realty Corp. (NYSE:SLG)

Proficio Capital Partners LLC bought a new position in SL Green Realty Corp. (NYSE:SLG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 113,438 shares of the real estate investment trust’s stock, valued at approximately $7,705,000. Proficio Capital Partners LLC owned approximately 0.17% of SL Green Realty as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its position in shares of SL Green Realty by 272.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 272 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in SL Green Realty in the third quarter worth approximately $35,000. Jones Financial Companies Lllp bought a new position in SL Green Realty during the fourth quarter valued at approximately $39,000. Versant Capital Management Inc grew its position 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 valued at $71,000 after acquiring an additional 157 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of SL Green Realty by 106.3% during the fourth quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 857 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on SLG. Compass Point lifted their target price on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Bank of America decreased their price objective on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Morgan Stanley raised their price target on SL Green Realty from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Jefferies Financial Group lowered their price objective on SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company decreased their target price on shares of SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.00.

SL Green Realty Trading Up 2.0 %

NYSE SLG opened at $56.67 on Friday. SL Green Realty Corp. has a 12 month low of $47.22 and a 12 month high of $82.81. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The stock’s fifty day moving average price is $63.99 and its 200-day moving average price is $69.34. The stock has a market cap of $4.04 billion, a P/E ratio of 708.40, a P/E/G ratio of 5.30 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data 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%. As a group, equities analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $0.2575 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.09 annualized dividend and a yield of 5.45%. SL Green Realty’s dividend payout ratio (DPR) is presently 3,862.50%.

Insiders Place Their Bets

In related 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 transaction of $229,066.50. Following the transaction, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.