FIL Ltd Buys 550 Shares of SL Green Realty Corp. (NYSE:SLG)

FIL Ltd boosted its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 53.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,582 shares of the real estate investment trust’s stock after buying an additional 550 shares during the quarter. FIL Ltd’s holdings in SL Green Realty were worth $107,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. HighTower Advisors LLC boosted its holdings in SL Green Realty by 35.8% in the third quarter. HighTower Advisors LLC now owns 9,153 shares of the real estate investment trust’s stock valued at $638,000 after acquiring an additional 2,413 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of SL Green Realty by 13.1% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 5,600 shares of the real estate investment trust’s stock worth $390,000 after purchasing an additional 649 shares during the period. MML Investors Services LLC boosted its stake in shares of SL Green Realty by 2.7% in the 3rd 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 during the last quarter. Barclays PLC increased its position in shares of SL Green Realty by 304.8% during the third quarter. Barclays PLC now owns 110,866 shares of the real estate investment trust’s stock worth $7,718,000 after buying an additional 83,478 shares during the period. Finally, Tidal Investments LLC bought a new position in SL Green Realty during the third quarter worth $791,000. Institutional investors own 89.96% of the company’s stock.

Insider Transactions at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the firm’s stock in a transaction dated 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 owns 2,052 shares in the company, valued at approximately $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLG. Bank of America decreased their price target on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Evercore ISI raised SL Green Realty from an “in-line” rating to an “outperform” rating and decreased their target price for the stock from $74.00 to $73.00 in a research note on Monday, March 17th. Mizuho boosted their price target on SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Truist Financial raised their price objective on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company dropped their target price on shares of SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, SL Green Realty currently has an average rating of “Hold” and a consensus target price of $69.87.

SL Green Realty Stock Performance

NYSE SLG opened at $51.28 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 641.00, a PEG ratio of 5.30 and a beta of 1.61. SL Green Realty Corp. has a 1 year low of $45.15 and a 1 year high of $82.81. The company has a fifty day moving average price of $59.13 and a 200-day moving average price of $67.24.

SL Green Realty (NYSE:SLG) last released its 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 predict that SL Green Realty Corp. will post 5.43 EPS for the current fiscal 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. The ex-dividend date is Monday, March 31st. 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 2.01%. SL Green Realty’s dividend payout ratio (DPR) is currently 3,862.50%.

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.