SL Green Realty Corp. (NYSE:SLG) Holdings Raised by Xponance Inc.

Xponance Inc. grew its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 24.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,388 shares of the real estate investment trust’s stock after acquiring an additional 1,070 shares during the period. Xponance Inc.’s holdings in SL Green Realty were worth $366,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Quest Partners LLC raised its stake in shares of SL Green Realty by 350.8% during the 3rd quarter. Quest Partners LLC now owns 2,691 shares of the real estate investment trust’s stock worth $187,000 after purchasing an additional 2,094 shares in the last quarter. Intech Investment Management LLC bought a new position in SL Green Realty during the third quarter valued at approximately $1,314,000. Charles Schwab Investment Management Inc. lifted its stake in SL Green Realty by 8.3% in the third 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 acquiring an additional 97,653 shares during the last quarter. Citigroup Inc. grew its position 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 worth $5,958,000 after acquiring an additional 30,220 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in shares of SL Green Realty by 105.3% during the 3rd quarter. Cerity Partners LLC now owns 13,276 shares of the real estate investment trust’s stock worth $924,000 after purchasing an additional 6,810 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Stock Down 0.5 %

SLG stock opened at $58.87 on Thursday. The business’s 50-day simple moving average is $63.06 and its 200 day simple moving average is $68.97. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. The company has a market cap of $4.20 billion, a PE ratio of 735.91, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. SL Green Realty Corp. has a twelve month low of $47.22 and a twelve month high of $82.81.

SL Green Realty (NYSE:SLG) last released 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 negative return on equity of 0.10% and a net margin of 2.48%. On average, research analysts anticipate that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.2575 per share. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.25. This represents a $1.03 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Monday, March 31st. SL Green Realty’s payout ratio is 3,862.50%.

Insider Activity at SL Green Realty

In other news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was 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 of the company’s stock, valued at approximately $136,047.60. This represents a 62.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on SLG. Compass Point lifted their price objective on shares of SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Evercore ISI raised SL Green Realty from an “in-line” rating to an “outperform” rating and reduced their price target for the stock from $74.00 to $73.00 in a research report on Monday, March 17th. Morgan Stanley increased their price objective on SL Green Realty from $52.00 to $55.00 and gave the company an “equal weight” rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $51.00 to $80.00 in a report on Tuesday, December 10th. Finally, Truist Financial increased 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. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, SL Green Realty has a consensus rating of “Hold” and an average price target of $69.87.

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.