Asset Management One Co. Ltd. Has $6.87 Million Stake in SL Green Realty Corp. (NYSE:SLG)

Asset Management One Co. Ltd. raised its position in SL Green Realty Corp. (NYSE:SLG) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,711 shares of the real estate investment trust’s stock after purchasing an additional 9,753 shares during the quarter. Asset Management One Co. Ltd. owned 0.16% of SL Green Realty worth $6,870,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Venturi Wealth Management LLC increased its position in shares of SL Green Realty by 272.0% in the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 272 shares during the last quarter. Point72 DIFC Ltd bought a new position in SL Green Realty in the third quarter valued at approximately $35,000. Blue Trust Inc. increased its position in shares of SL Green Realty by 363.2% during the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 632 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of SL Green Realty by 17.7% during the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 157 shares in the last quarter. Finally, Rosenberg Matthew Hamilton boosted its holdings in shares of SL Green Realty by 6.6% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock valued at $161,000 after buying an additional 144 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SLG shares. Barclays lowered their target price on shares of SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Piper Sandler restated an “overweight” rating and set a $90.00 price objective (up from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Wells Fargo & Company lowered their price objective 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. BMO Capital Markets restated an “outperform” rating and set a $87.00 price objective (up from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. upgraded shares of SL Green Realty from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $51.00 to $80.00 in a research note on Tuesday, December 10th. Two 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $71.07.

SL Green Realty Stock Performance

NYSE SLG opened at $64.61 on Tuesday. The company has a quick ratio of 2.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $4.26 billion, a P/E ratio of 807.56, a P/E/G ratio of 5.49 and a beta of 1.82. SL Green Realty Corp. has a 12-month low of $43.69 and a 12-month high of $82.81. The firm has a 50-day moving average price of $67.23 and a two-hundred day moving average price of $69.58.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings data 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%. Analysts anticipate that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be given a $0.2575 dividend. This represents a $3.09 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend is Friday, January 31st. SL Green Realty’s payout ratio is presently 3,862.50%.

Insider Activity

In other news, Director Craig M. Hatkoff sold 3,455 shares of the business’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 transaction, the director now directly owns 2,052 shares in the company, valued at approximately $136,047.60. The trade was a 62.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.