Wellington Management Group LLP Lowers Position in SL Green Realty Corp. (NYSE:SLG)

Wellington Management Group LLP lessened its stake in SL Green Realty Corp. (NYSE:SLG) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,893,454 shares of the real estate investment trust’s stock after selling 19,595 shares during the quarter. Wellington Management Group LLP owned approximately 4.06% of SL Green Realty worth $196,523,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Versant Capital Management Inc boosted its holdings in 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 acquiring an additional 157 shares during the last quarter. MML Investors Services LLC lifted its position in shares of SL Green Realty by 2.7% during the third quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust’s stock valued at $427,000 after purchasing an additional 161 shares in the last quarter. GAMMA Investing LLC boosted its holdings in SL Green Realty by 5.1% during the fourth quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust’s stock worth $285,000 after purchasing an additional 203 shares during the last quarter. Natixis Advisors LLC increased its stake in SL Green Realty by 1.3% in the 4th quarter. Natixis Advisors LLC now owns 21,820 shares of the real estate investment trust’s stock valued at $1,482,000 after buying an additional 284 shares during the last quarter. Finally, Ieq Capital LLC increased its stake in SL Green Realty by 9.3% in the 4th quarter. Ieq Capital LLC now owns 4,542 shares of the real estate investment trust’s stock valued at $308,000 after buying an additional 387 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SLG shares. Scotiabank decreased their price target on SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Wells Fargo & Company decreased their target price on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Truist Financial boosted their price target on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, January 27th. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $51.00 to $80.00 in a report on Tuesday, December 10th. Finally, Jefferies Financial Group started coverage on shares of SL Green Realty in a research report on Monday, March 17th. They set a “hold” rating and a $58.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $69.87.

SL Green Realty Stock Performance

NYSE SLG opened at $58.58 on Thursday. The company’s 50 day simple moving average is $62.23 and its two-hundred day simple moving average is $68.68. 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 Corp. has a 1 year low of $47.22 and a 1 year high of $82.81. The stock has a market capitalization of $4.18 billion, a PE ratio of 732.25, a P/E/G ratio of 5.30 and a beta of 1.82.

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 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%. Analysts predict that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 1.76%. This is a boost from SL Green Realty’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. SL Green Realty’s dividend payout ratio is 3,862.50%.

Insider Buying and Selling at SL Green Realty

In other news, Director Craig M. Hatkoff sold 3,455 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.30, for a total transaction of $229,066.50. Following the sale, the director now owns 2,052 shares in the company, valued at approximately $136,047.60. This trade represents a 62.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.08% of the stock is currently owned by company insiders.

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.