Sumitomo Mitsui DS Asset Management Company Ltd Acquires 3,285 Shares of SL Green Realty Corp. (NYSE:SLG)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in SL Green Realty Corp. (NYSE:SLG) by 28.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,928 shares of the real estate investment trust’s stock after purchasing an additional 3,285 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in SL Green Realty were worth $1,014,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP raised its position 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 buying an additional 977,321 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in SL Green Realty by 396.3% during 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 worth $31,058,000 after purchasing an additional 356,275 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of SL Green Realty in the 3rd quarter worth about $18,811,000. Charles Schwab Investment Management Inc. increased its position in shares of SL Green Realty by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock valued at $88,275,000 after purchasing an additional 97,653 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of SL Green Realty by 304.8% during the 3rd quarter. Barclays PLC now owns 110,866 shares of the real estate investment trust’s stock valued at $7,718,000 after buying an additional 83,478 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America cut their target price on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Evercore ISI lifted their target price on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Barclays cut 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 research report on Tuesday, January 28th. Piper Sandler reissued an “overweight” rating and issued a $90.00 target price (up previously from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. raised SL Green Realty from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $51.00 to $80.00 in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $71.07.

SL Green Realty Trading Down 0.2 %

NYSE:SLG opened at $64.52 on Wednesday. The company has a 50-day moving average price of $68.02 and a 200-day moving average price of $69.63. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 806.46, a P/E/G ratio of 5.49 and a beta of 1.82. The company has a current ratio of 3.21, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. SL Green Realty Corp. has a 12 month low of $42.10 and a 12 month high of $82.81.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, topping the consensus estimate 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%. Equities analysts predict that SL Green Realty Corp. will post 5.43 EPS 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. Shareholders of record on Friday, January 31st will be issued a $0.2575 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.09 dividend on an annualized basis and a yield of 4.79%. SL Green Realty’s dividend payout ratio (DPR) is 3,862.50%.

Insider Buying and Selling at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.