Fox Run Management L.L.C. Has $1.65 Million Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

Fox Run Management L.L.C. grew its position in SL Green Realty Corp. (NYSE:SLG) by 70.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,296 shares of the real estate investment trust’s stock after purchasing an additional 10,081 shares during the period. Fox Run Management L.L.C.’s holdings in SL Green Realty were worth $1,650,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in SL Green Realty by 6.1% during the third quarter. Victory Capital Management Inc. now owns 23,900 shares of the real estate investment trust’s stock worth $1,664,000 after acquiring an additional 1,380 shares in the last quarter. Quest Partners LLC grew its position in shares of SL Green Realty by 350.8% in the 3rd 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 SL Green Realty during the 3rd quarter worth approximately $1,314,000. Charles Schwab Investment Management Inc. raised its holdings 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 worth $88,275,000 after buying an additional 97,653 shares during the period. Finally, Citigroup Inc. lifted its stake in SL Green Realty by 54.6% in the third quarter. Citigroup Inc. now owns 85,587 shares of the real estate investment trust’s stock valued at $5,958,000 after buying an additional 30,220 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SLG shares. Barclays lowered 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 report on Tuesday, January 28th. Truist Financial boosted their price target on SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a report on Monday, January 27th. Wells Fargo & Company decreased their price objective on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Morgan Stanley boosted their target price on SL Green Realty from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 12th. Finally, Evercore ISI raised shares of SL Green Realty from an “in-line” rating to an “outperform” rating and decreased their price target for the stock from $74.00 to $73.00 in a research note on Monday, March 17th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $69.87.

Insider Buying and Selling at SL Green Realty

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

SL Green Realty Stock Performance

Shares of SLG opened at $57.40 on Friday. The company has a market cap of $4.09 billion, a PE ratio of 717.55, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. The firm has a 50-day moving average of $63.33 and a 200-day moving average of $69.03. SL Green Realty Corp. has a one year low of $47.22 and a one year 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 quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, equities analysts forecast that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 1.79%. This is a boost from SL Green Realty’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. SL Green Realty’s payout ratio is 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.