Natixis Advisors LLC Boosts Stock Position in SL Green Realty Corp. (NYSE:SLG)

Natixis Advisors LLC boosted its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,820 shares of the real estate investment trust’s stock after purchasing an additional 284 shares during the quarter. Natixis Advisors LLC’s holdings in SL Green Realty were worth $1,482,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of SLG. Victory Capital Management Inc. lifted its holdings in shares of SL Green Realty by 6.1% in the 3rd quarter. Victory Capital Management Inc. now owns 23,900 shares of the real estate investment trust’s stock valued at $1,664,000 after acquiring an additional 1,380 shares during the last quarter. Quest Partners LLC raised its position in SL Green Realty by 350.8% during the third quarter. Quest Partners LLC now owns 2,691 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 2,094 shares during the period. Intech Investment Management LLC bought a new stake in shares of SL Green Realty in the 3rd quarter valued at approximately $1,314,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of SL Green Realty by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock worth $88,275,000 after purchasing an additional 97,653 shares during the period. Finally, Citigroup Inc. increased its position in shares of SL Green Realty by 54.6% during the 3rd quarter. Citigroup Inc. now owns 85,587 shares of the real estate investment trust’s stock valued at $5,958,000 after purchasing an additional 30,220 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Trading Up 3.7 %

NYSE SLG opened at $59.49 on Tuesday. The company’s 50-day simple moving average is $63.27 and its two-hundred day simple moving average is $69.06. SL Green Realty Corp. has a one year low of $47.22 and a one year high of $82.81. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 743.59, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 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%. Equities analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.2575 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.03 dividend on an annualized basis and a yield of 1.73%. This is an increase from SL Green Realty’s previous quarterly dividend of $0.25. SL Green Realty’s dividend payout ratio (DPR) is presently 3,862.50%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of SL Green Realty from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 12th. Mizuho upped their price target on shares of SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Barclays decreased their price objective on shares of SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Evercore ISI raised SL Green Realty from an “in-line” rating to an “outperform” rating and cut their target price for the company from $74.00 to $73.00 in a research note on Monday, March 17th. Finally, Jefferies Financial Group assumed coverage on SL Green Realty in a report on Monday, March 17th. They issued a “hold” rating and a $58.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $69.87.

Insiders Place Their Bets

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the firm’s 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 completion of the sale, the director now directly owns 2,052 shares in the company, valued at $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.08% of the stock is currently owned by corporate 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.