Ieq Capital LLC Boosts Holdings in SL Green Realty Corp. (NYSE:SLG)

Ieq Capital LLC boosted its stake in SL Green Realty Corp. (NYSE:SLG) by 9.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,542 shares of the real estate investment trust’s stock after purchasing an additional 387 shares during the period. Ieq Capital LLC’s holdings in SL Green Realty were worth $308,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLG. Rosenberg Matthew Hamilton raised its holdings in shares of SL Green Realty by 6.6% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 144 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of SL Green Realty by 4.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock valued at $262,000 after buying an additional 148 shares during the period. Versant Capital Management Inc raised its stake in shares of SL Green Realty by 17.7% in the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 157 shares during the period. MML Investors Services LLC lifted its position in shares of SL Green Realty by 2.7% during the 3rd quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust’s stock valued at $427,000 after buying an additional 161 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of SL Green Realty by 5.1% during the 4th quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust’s stock worth $285,000 after acquiring an additional 203 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SLG. Scotiabank boosted their price objective on SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 10th. Mizuho upped their price target on shares of SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Wells Fargo & Company reduced their price objective on shares of SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Barclays lowered their target price on shares of SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Finally, Bank of America reduced their price target on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $71.07.

Insider Transactions at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of the sale, the director now owns 2,052 shares in the company, valued at $136,047.60. The trade was a 62.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 5.08% of the company’s stock.

SL Green Realty Stock Down 0.5 %

Shares of NYSE SLG opened at $64.59 on Friday. The business has a 50-day moving average of $65.70 and a 200-day moving average of $69.61. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 807.43, a PEG ratio of 5.30 and a beta of 1.82. The company has a current ratio of 2.89, 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 $45.96 and a 12 month high of $82.81.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, topping analysts’ consensus estimates 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%. Sell-side analysts expect that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $0.2575 per share. The ex-dividend date is Friday, February 28th. This represents a $3.09 dividend on an annualized basis and a yield of 4.78%. SL Green Realty’s payout ratio is 3,862.50%.

About SL Green Realty

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.