Y Intercept Hong Kong Ltd Acquires Shares of 14,485 SL Green Realty Corp. (NYSE:SLG)

Y Intercept Hong Kong Ltd acquired a new position in shares of SL Green Realty Corp. (NYSE:SLG) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,485 shares of the real estate investment trust’s stock, valued at approximately $984,000.

Several other hedge funds also recently made changes to their positions in SLG. Wellington Management Group LLP raised its holdings in 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 worth $202,777,000 after purchasing an additional 977,321 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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 worth $88,275,000 after buying an additional 97,653 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of SL Green Realty by 396.3% in the third 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 buying an additional 356,275 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in 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 acquiring an additional 37,163 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insiders Place Their Bets

In other SL Green Realty 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 transaction of $229,066.50. Following the transaction, the director now owns 2,052 shares of the company’s stock, valued at $136,047.60. The trade was a 62.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SLG. Mizuho raised their target price on SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Jefferies Financial Group lowered their price target on SL Green Realty from $75.00 to $69.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Barclays reduced their price objective on SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Truist Financial boosted their target price on SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and raised their price target for the company from $51.00 to $80.00 in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $71.07.

SL Green Realty Trading Down 0.5 %

NYSE:SLG opened at $64.59 on Friday. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 807.43, a PEG 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. The business has a fifty day moving average of $65.70 and a 200-day moving average of $69.61. SL Green Realty Corp. has a 1 year low of $45.96 and a 1 year high of $82.81.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, beating the consensus estimate of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. Equities analysts predict 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 disclosed a monthly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.2575 per share. This represents a $3.09 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Friday, February 28th. SL Green Realty’s dividend payout ratio is presently 3,862.50%.

SL Green Realty Company 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.