Corient Private Wealth LLC Sells 907 Shares of SL Green Realty Corp. (NYSE:SLG)

Corient Private Wealth LLC cut its holdings in SL Green Realty Corp. (NYSE:SLG) by 7.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,881 shares of the real estate investment trust’s stock after selling 907 shares during the period. Corient Private Wealth LLC’s holdings in SL Green Realty were worth $739,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Natixis Advisors LLC boosted its stake in shares of SL Green Realty by 1.3% during the 4th quarter. Natixis Advisors LLC now owns 21,820 shares of the real estate investment trust’s stock worth $1,482,000 after acquiring an additional 284 shares in the last quarter. Swiss National Bank boosted its position in SL Green Realty by 0.6% during the fourth quarter. Swiss National Bank now owns 127,398 shares of the real estate investment trust’s stock worth $8,653,000 after purchasing an additional 800 shares during the period. Wealthfront Advisers LLC acquired a new position in SL Green Realty during the fourth quarter valued at approximately $1,189,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of SL Green Realty by 46.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,153 shares of the real estate investment trust’s stock valued at $2,999,000 after purchasing an additional 14,096 shares during the period. Finally, Amundi lifted its stake in shares of SL Green Realty by 20.8% in the fourth quarter. Amundi now owns 158,185 shares of the real estate investment trust’s stock worth $10,209,000 after buying an additional 27,212 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SL Green Realty

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

Analyst Ratings Changes

A number of research firms recently issued reports on SLG. Mizuho raised their target price 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. Bank of America dropped their price objective on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Morgan Stanley increased their target price on SL Green Realty from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 12th. JPMorgan Chase & Co. raised SL Green Realty from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $51.00 to $80.00 in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company reduced their price objective on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SL Green Realty currently has an average rating of “Hold” and an average price target of $69.87.

SL Green Realty Price Performance

Shares of SL Green Realty stock opened at $58.32 on Friday. The firm has a market cap of $4.16 billion, a P/E ratio of 728.98, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. The firm’s 50-day simple moving average is $62.92 and its 200-day simple moving average is $68.89. SL Green Realty Corp. has a twelve month low of $47.22 and a twelve month high of $82.81. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. As a group, research analysts expect that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 1.77%. This is a boost from SL Green Realty’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. SL Green Realty’s dividend payout ratio is 3,862.50%.

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.