Tradewinds LLC. Purchases New Position in SL Green Realty Corp. (NYSE:SLG)

Tradewinds LLC. acquired a new position in shares of SL Green Realty Corp. (NYSE:SLG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,250 shares of the real estate investment trust’s stock, valued at approximately $272,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new position in SL Green Realty in the third quarter valued at about $35,000. Jones Financial Companies Lllp bought a new stake in SL Green Realty during the 4th quarter worth approximately $39,000. Versant Capital Management Inc grew its position 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. Summit Securities Group LLC acquired a new stake in SL Green Realty during the 4th quarter valued at $88,000. Finally, Blue Trust Inc. raised its position in SL Green Realty by 106.3% in the 4th 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. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Scotiabank cut their price target on SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Jefferies Financial Group began coverage on shares of SL Green Realty in a research note on Monday, March 17th. They issued a “hold” rating and a $58.00 target price for the company. Truist Financial increased their price target on shares of SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $51.00 to $80.00 in a research report on Tuesday, December 10th. Finally, Bank of America decreased their price objective on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, SL Green Realty currently has an average rating of “Hold” and an average target price of $69.87.

Insider Transactions at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the business’s 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 in the company, valued at approximately $136,047.60. The trade was a 62.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.08% of the stock is currently owned by insiders.

SL Green Realty Stock Up 0.5 %

SL Green Realty stock opened at $57.96 on Wednesday. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 724.55, a PEG ratio of 5.30 and a beta of 1.82. The company’s 50 day simple moving average is $62.41 and its 200 day simple moving average is $68.75. 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 fifty-two week low of $47.22 and a fifty-two week high of $82.81.

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 net margin of 2.48% and a negative return on equity of 0.10%. As a group, sell-side analysts anticipate that SL Green Realty Corp. will post 5.43 EPS for the current 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 is an increase from SL Green Realty’s previous quarterly dividend of $0.25. This represents a $1.03 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, March 31st. SL Green Realty’s dividend payout ratio is 3,862.50%.

About SL Green Realty

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.