Sumitomo Mitsui Trust Holdings Inc. Has $3.43 Million Position in SL Green Realty Corp. (NYSE:SLG)

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in SL Green Realty Corp. (NYSE:SLG) by 9.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,975 shares of the real estate investment trust’s stock after purchasing an additional 6,307 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.12% of SL Green Realty worth $3,432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SLG. Deutsche Bank AG boosted its stake in SL Green Realty by 2,563.6% in the third quarter. Deutsche Bank AG now owns 1,999,279 shares of the real estate investment trust’s stock valued at $74,573,000 after acquiring an additional 1,924,221 shares during the last quarter. Wellington Management Group LLP bought a new position in SL Green Realty in the third quarter valued at approximately $38,666,000. Bank of New York Mellon Corp boosted its stake in SL Green Realty by 4.6% in the third quarter. Bank of New York Mellon Corp now owns 1,033,136 shares of the real estate investment trust’s stock valued at $38,536,000 after acquiring an additional 45,247 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in SL Green Realty by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 994,094 shares of the real estate investment trust’s stock valued at $37,080,000 after acquiring an additional 26,465 shares during the last quarter. Finally, LDR Capital Management LLC boosted its stake in SL Green Realty by 1.7% in the third quarter. LDR Capital Management LLC now owns 702,107 shares of the real estate investment trust’s stock valued at $26,189,000 after acquiring an additional 11,500 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of SL Green Realty to a “sell” rating in a research report on Saturday, February 3rd. Evercore ISI lifted their price target on shares of SL Green Realty from $46.00 to $47.00 and gave the stock an “underperform” rating in a research report on Monday. Truist Financial cut shares of SL Green Realty from a “buy” rating to a “hold” rating and lifted their price target for the stock from $44.00 to $47.00 in a research report on Tuesday, January 16th. Scotiabank lifted their price target on shares of SL Green Realty from $40.00 to $43.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, April 2nd. Finally, Barclays raised shares of SL Green Realty from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $35.00 to $48.00 in a research report on Wednesday, March 27th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, SL Green Realty currently has a consensus rating of “Hold” and a consensus target price of $47.25.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Betsy S. Atkins sold 9,894 shares of SL Green Realty stock in a transaction on Friday, January 26th. The shares were sold at an average price of $47.25, for a total value of $467,491.50. Following the sale, the director now directly owns 6,886 shares in the company, valued at approximately $325,363.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Carol N. Brown sold 5,118 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $44.37, for a total transaction of $227,085.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Betsy S. Atkins sold 9,894 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $47.25, for a total transaction of $467,491.50. Following the transaction, the director now owns 6,886 shares in the company, valued at $325,363.50. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

SL Green Realty Stock Down 0.5 %

Shares of SLG stock opened at $52.13 on Thursday. The company has a current ratio of 2.96, a quick ratio of 2.23 and a debt-to-equity ratio of 1.01. SL Green Realty Corp. has a 1 year low of $20.51 and a 1 year high of $55.75. The firm’s fifty day moving average price is $50.40 and its two-hundred day moving average price is $43.60. The firm has a market capitalization of $3.43 billion, a P/E ratio of -6.31, a PEG ratio of 1.37 and a beta of 1.71.

SL Green Realty Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a $0.25 dividend. The ex-dividend date is Monday, April 29th. This represents a $3.00 annualized dividend and a yield of 5.75%. SL Green Realty’s payout ratio is currently -36.32%.

SL Green Realty 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.