Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in SL Green Realty Corp. (NYSE:SLG) by 3.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 26,238 shares of the real estate investment trust’s stock after selling 1,032 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SL Green Realty were worth $1,185,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA purchased a new position in SL Green Realty in the 4th quarter valued at $33,000. Financial Gravity Asset Management Inc. lifted its holdings in SL Green Realty by 3,073.3% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 922 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in SL Green Realty in the 3rd quarter valued at $88,000. Rosenberg Matthew Hamilton raised its holdings in shares of SL Green Realty by 9.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock worth $117,000 after acquiring an additional 227 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of SL Green Realty by 122.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 1,502 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com upgraded SL Green Realty to a “sell” rating in a report on Saturday, February 3rd. Evercore ISI lifted their price target on SL Green Realty from $46.00 to $47.00 and gave the stock an “underperform” rating in a report on Monday, April 22nd. Truist Financial lowered 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 report on Tuesday, January 16th. JPMorgan Chase & Co. lifted their price target on SL Green Realty from $43.00 to $44.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on SL Green Realty in a research report on Tuesday, January 30th. They set a “hold” rating and a $50.00 price objective for the company. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, SL Green Realty presently has an average rating of “Hold” and a consensus target price of $47.00.

SL Green Realty Stock Performance

NYSE SLG opened at $50.58 on Friday. The company has a market cap of $3.33 billion, a P/E ratio of -6.12, a P/E/G ratio of 1.43 and a beta of 1.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.23. The stock has a 50-day moving average of $50.58 and a two-hundred day moving average of $43.76. SL Green Realty Corp. has a 1-year low of $20.51 and a 1-year high of $55.75.

SL Green Realty Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 5.93%. The ex-dividend date is Monday, April 29th. SL Green Realty’s dividend payout ratio is currently -36.32%.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Carol N. Brown sold 5,118 shares of SL Green Realty stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $44.37, for a total value of $227,085.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.60% of the stock is currently owned by corporate insiders.

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.