Victory Capital Management Inc. Purchases 2,586 Shares of SL Green Realty Corp. (NYSE:SLG)

Victory Capital Management Inc. boosted its position in SL Green Realty Corp. (NYSE:SLG) by 10.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,486 shares of the real estate investment trust’s stock after buying an additional 2,586 shares during the quarter. Victory Capital Management Inc.’s holdings in SL Green Realty were worth $1,799,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its position 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 purchasing an additional 977,321 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in SL Green Realty by 12.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust’s stock valued at $96,990,000 after buying an additional 159,870 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in SL Green Realty by 1.8% in the 4th quarter. Allianz Asset Management GmbH now owns 534,159 shares of the real estate investment trust’s stock valued at $36,280,000 after buying an additional 9,299 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in SL Green Realty by 396.3% in the 3rd 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 worth $31,058,000 after buying an additional 356,275 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of SL Green Realty by 12.2% during the fourth quarter. Principal Financial Group Inc. now owns 342,758 shares of the real estate investment trust’s stock worth $23,280,000 after buying an additional 37,163 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of NYSE:SLG opened at $58.25 on Tuesday. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 728.09, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. The business’s fifty day moving average price is $63.81 and its two-hundred day moving average price is $69.30. SL Green Realty Corp. has a fifty-two week low of $47.22 and a fifty-two week high of $82.81. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58.

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

SL Green Realty Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $0.2575 dividend. This represents a $3.09 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date was Friday, February 28th. SL Green Realty’s dividend payout ratio (DPR) is currently 3,862.50%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, January 27th. Jefferies Financial Group started coverage on shares of SL Green Realty in a report on Monday. They set a “hold” rating and a $58.00 price objective on the stock. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an “underweight” rating to a “neutral” rating and increased their target price for the company from $51.00 to $80.00 in a research note on Tuesday, December 10th. Bank of America lowered their price target on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Finally, Evercore ISI upgraded SL Green Realty from an “in-line” rating to an “outperform” rating and reduced their price objective for the stock from $74.00 to $73.00 in a research report on Monday. Two investment 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $69.87.

Insider Transactions at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty stock in a transaction dated 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 transaction, the director now directly owns 2,052 shares of the company’s stock, valued at $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.08% of the stock is owned by company insiders.

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.