New Age Alpha Advisors LLC Takes Position in SL Green Realty Corp. (NYSE:SLG)

New Age Alpha Advisors LLC purchased a new position in shares of SL Green Realty Corp. (NYSE:SLG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,790 shares of the real estate investment trust’s stock, valued at approximately $665,000.

A number of other hedge funds have also bought and sold shares of the company. Point72 DIFC Ltd acquired a new position in shares of SL Green Realty in the 3rd quarter worth approximately $35,000. Jones Financial Companies Lllp bought a new position in SL Green Realty during the fourth quarter worth $39,000. Versant Capital Management Inc boosted its holdings in SL Green Realty by 17.7% in the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 157 shares during the period. Blue Trust Inc. increased its stake in SL Green Realty by 106.3% during the fourth quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 857 shares during the last quarter. Finally, Game Plan Financial Advisors LLC acquired a new stake in shares of SL Green Realty during the fourth quarter worth $149,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SLG shares. Wells Fargo & Company dropped their price objective on shares of SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Mizuho raised their price target on SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $51.00 to $80.00 in a research note on Tuesday, December 10th. Truist Financial raised their target price on SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, January 27th. Finally, Jefferies Financial Group initiated coverage on shares of SL Green Realty in a research report on Monday, March 17th. They set a “hold” rating and a $58.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $69.87.

SL Green Realty Price Performance

NYSE SLG opened at $57.78 on Tuesday. SL Green Realty Corp. has a 12 month low of $47.22 and a 12 month high of $82.81. The firm has a market capitalization of $4.12 billion, a PE ratio of 722.24, a P/E/G ratio of 5.30 and a beta of 1.82. The company’s 50 day simple moving average is $62.59 and its 200 day simple moving average is $68.83. 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 issued its quarterly earnings results 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%. As a group, equities research analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 1.78%. This is an increase from SL Green Realty’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. SL Green Realty’s dividend payout ratio is presently 3,862.50%.

Insider Activity

In related news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.08% of the company’s stock.

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.