Duality Advisers LP Acquires New Shares in SL Green Realty Corp. (NYSE:SLG)

Duality Advisers LP acquired a new stake in shares of SL Green Realty Corp. (NYSE:SLG) in the fourth quarter, HoldingsChannel reports. The fund acquired 10,615 shares of the real estate investment trust’s stock, valued at approximately $479,000.

A number of other institutional investors have also recently bought and sold shares of SLG. Private Trust Co. NA acquired a new stake in SL Green Realty during the fourth quarter valued at $33,000. Financial Gravity Asset Management Inc. lifted its position in shares of SL Green Realty by 3,073.3% in the third quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 922 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of SL Green Realty in the third quarter worth about $88,000. Allspring Global Investments Holdings LLC lifted its position in shares of SL Green Realty by 122.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 1,502 shares during the last quarter. Finally, Rosenberg Matthew Hamilton lifted its position in shares of SL Green Realty by 9.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 227 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Activity at SL Green Realty

In related news, Director Carol N. Brown sold 5,118 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $44.37, for a total transaction of $227,085.66. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 5.60% of the company’s stock.

SL Green Realty Stock Down 2.5 %

SL Green Realty stock opened at $50.88 on Friday. The company has a current ratio of 2.96, a quick ratio of 2.23 and a debt-to-equity ratio of 1.01. The business’s 50-day simple moving average is $50.51 and its 200-day simple moving average is $43.65. SL Green Realty Corp. has a 52 week low of $20.51 and a 52 week high of $55.75.

SL Green Realty Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $3.00 annualized dividend and a yield of 5.90%. SL Green Realty’s dividend payout ratio is -36.32%.

Analysts Set New Price Targets

A number of analysts have weighed in on SLG shares. StockNews.com raised SL Green Realty to a “sell” rating in a research report on Saturday, February 3rd. The Goldman Sachs Group boosted their price target on SL Green Realty from $30.00 to $36.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. Barclays raised SL Green Realty from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $35.00 to $48.00 in a research report on Wednesday, March 27th. Morgan Stanley boosted their price target on SL Green Realty from $41.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. Finally, Truist Financial cut SL Green Realty from a “buy” rating to a “hold” rating and boosted their price target for the stock from $44.00 to $47.00 in a research report on Tuesday, January 16th. Six equities 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $47.00.

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.