Choreo LLC Has $256,000 Position in SL Green Realty Corp. (NYSE:SLG)

Choreo LLC decreased its position in shares of SL Green Realty Corp. (NYSE:SLG) by 38.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,854 shares of the real estate investment trust’s stock after selling 2,372 shares during the quarter. Choreo LLC’s holdings in SL Green Realty were worth $256,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of SL Green Realty by 50.5% during 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 acquiring an additional 977,321 shares during the period. Charles Schwab Investment Management Inc. lifted its position in SL Green Realty by 8.3% during the 3rd 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 purchasing an additional 97,653 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in SL Green Realty by 396.3% during 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 valued at $31,058,000 after purchasing an additional 356,275 shares during the period. Point72 Asset Management L.P. bought a new position in shares of SL Green Realty in the 3rd quarter valued at about $18,811,000. Finally, Moody Aldrich Partners LLC grew its position in shares of SL Green Realty by 12.8% during the 3rd quarter. Moody Aldrich Partners LLC now owns 117,926 shares of the real estate investment trust’s stock worth $8,209,000 after buying an additional 13,427 shares during the period. 89.96% of the stock is currently owned by institutional investors.

Insider Activity at SL Green Realty

In other news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction dated Friday, January 24th. The shares were 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 in the company, valued at $136,047.60. This represents a 62.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.08% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on SLG shares. Scotiabank increased their price objective on shares of SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a report on Tuesday, December 10th. Piper Sandler reissued an “overweight” rating and issued a $90.00 price target (up previously from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Bank of America decreased their price objective on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Truist Financial upped their price objective on SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $51.00 to $80.00 in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $71.07.

SL Green Realty Stock Performance

Shares of SLG opened at $64.61 on Friday. The firm has a market cap of $4.26 billion, a P/E ratio of 807.56, a PEG ratio of 5.49 and a beta of 1.82. SL Green Realty Corp. has a twelve month low of $43.69 and a twelve month high of $82.81. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 3.21. The firm’s 50 day moving average price is $67.44 and its two-hundred day moving average price is $69.55.

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

SL Green Realty Announces Dividend

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 of this dividend is Friday, January 31st. This represents a $3.09 dividend on an annualized basis and a dividend yield of 4.78%. SL Green Realty’s payout ratio is presently 3,862.50%.

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.