Moody Aldrich Partners LLC Trims Position in SL Green Realty Corp. (NYSE:SLG)

Moody Aldrich Partners LLC lowered its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 114,781 shares of the real estate investment trust’s stock after selling 3,145 shares during the period. SL Green Realty makes up approximately 1.4% of Moody Aldrich Partners LLC’s portfolio, making the stock its 11th biggest holding. Moody Aldrich Partners LLC owned approximately 0.17% of SL Green Realty worth $7,796,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Venturi Wealth Management LLC raised its stake in SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 272 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of SL Green Realty in the third quarter worth $35,000. Friedenthal Financial acquired a new stake in shares of SL Green Realty in the third quarter worth $49,000. Blue Trust Inc. increased its position in shares of SL Green Realty by 363.2% in the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 632 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of 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 acquiring an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SLG. JPMorgan Chase & Co. raised shares of SL Green Realty from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $51.00 to $80.00 in a research report on Tuesday, December 10th. Barclays lowered their price target on shares of SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Tuesday. Piper Sandler reaffirmed an “overweight” rating and set a $90.00 price target (up from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Truist Financial raised their price target on shares of SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a report on Monday. Finally, Bank of America lowered their price target on shares of SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a report on Monday. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $69.38.

Insider Activity at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $66.30, for a total value of $229,066.50. Following the sale, the director now directly owns 2,052 shares in the company, valued at $136,047.60. This trade represents a 62.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.08% of the stock is currently owned by insiders.

SL Green Realty Trading Down 4.8 %

SL Green Realty stock opened at $64.15 on Wednesday. The firm’s 50-day moving average is $70.55 and its 200-day moving average is $69.38. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58. SL Green Realty Corp. has a 1 year low of $41.88 and a 1 year high of $82.81. The company has a market cap of $4.23 billion, a P/E ratio of 801.91, a PEG ratio of 5.53 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) 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 0.11%. On average, equities analysts expect that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be given a $0.2575 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.09 annualized dividend and a yield of 4.82%. SL Green Realty’s dividend payout ratio is presently 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.