GAMMA Investing LLC Acquires Shares of 3,109 SL Green Realty Corp. (NYSE:SLG)

GAMMA Investing LLC bought a new position in SL Green Realty Corp. (NYSE:SLG) during the 4th quarter, Holdings Channel reports. The firm bought 3,109 shares of the real estate investment trust’s stock, valued at approximately $140,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Trust Co. NA acquired a new position in shares of SL Green Realty in the 4th quarter worth approximately $33,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of 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 worth $36,000 after acquiring an additional 922 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in SL Green Realty in the 3rd quarter worth approximately $88,000. Allspring Global Investments Holdings LLC raised its position in SL Green Realty by 122.1% in 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 purchasing an additional 1,502 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its position in SL Green Realty by 9.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 227 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLG has been the subject of several research analyst reports. Evercore ISI boosted their price objective 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, April 22nd. Scotiabank boosted their price objective 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. Morgan Stanley boosted their price objective on shares of 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. Piper Sandler restated an “overweight” rating and issued a $58.00 price objective on shares of SL Green Realty in a research report on Tuesday, March 26th. Finally, Barclays upgraded shares of SL Green Realty from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $35.00 to $48.00 in a research report on Wednesday, March 27th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $47.00.

SL Green Realty Trading Down 0.5 %

SLG opened at $50.61 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.23 and a current ratio of 2.96. SL Green Realty Corp. has a 12 month low of $20.51 and a 12 month high of $55.75. The company has a fifty day simple moving average of $50.58 and a 200 day simple moving average of $43.83.

SL Green Realty Cuts Dividend

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

Insider Activity at SL Green Realty

In related news, Director Carol N. Brown sold 5,118 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $44.37, for a total value of $227,085.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.60% of the stock is 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.