SL Green Realty Corp. (NYSE:SLG) Shares Purchased by Green Alpha Advisors LLC

Green Alpha Advisors LLC grew its stake in SL Green Realty Corp. (NYSE:SLG) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,111 shares of the real estate investment trust’s stock after purchasing an additional 913 shares during the period. SL Green Realty comprises approximately 2.5% of Green Alpha Advisors LLC’s investment portfolio, making the stock its 3rd largest position. Green Alpha Advisors LLC owned 0.07% of SL Green Realty worth $3,064,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in shares of SL Green Realty by 50.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock valued at $202,777,000 after acquiring an additional 977,321 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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 purchasing an additional 356,275 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of SL Green Realty during the third quarter valued at about $18,811,000. Charles Schwab Investment Management Inc. grew its holdings in shares of SL Green Realty by 8.3% during the third 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 purchasing an additional 97,653 shares during the last quarter. Finally, Lighthouse Investment Partners LLC raised its holdings in SL Green Realty by 150.0% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 150,000 shares of the real estate investment trust’s stock valued at $8,496,000 after buying an additional 90,000 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on SLG. Scotiabank raised their price target on shares of SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 10th. Mizuho raised their target price on SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Piper Sandler reiterated an “overweight” rating and issued a $90.00 price target (up previously from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Barclays increased their price target on SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Compass Point lifted their price objective on SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $68.38.

SL Green Realty Stock Down 4.4 %

Shares of NYSE SLG opened at $61.68 on Monday. SL Green Realty Corp. has a 12-month low of $41.81 and a 12-month high of $82.81. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. The firm has a market cap of $4.07 billion, a PE ratio of -24.67, a P/E/G ratio of 4.26 and a beta of 1.82. The company’s fifty day simple moving average is $73.29 and its 200 day simple moving average is $68.68.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). The firm had revenue of $229.69 million during the quarter, compared to the consensus estimate of $136.66 million. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. During the same period in the previous year, the firm earned $1.27 earnings per share. As a group, sell-side analysts forecast that SL Green Realty Corp. will post 7.82 earnings per share for the current fiscal year.

SL Green Realty Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.2575 dividend. This is a boost from SL Green Realty’s previous monthly dividend of $0.25. This represents a $3.09 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date of this dividend is Tuesday, December 31st. SL Green Realty’s dividend payout ratio (DPR) is currently -123.60%.

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.