Rhumbline Advisers Boosts Position in SL Green Realty Corp. (NYSE:SLG)

Rhumbline Advisers increased its position in shares of SL Green Realty Corp. (NYSE:SLG) by 3.6% during the 4th quarter, HoldingsChannel reports. The fund owned 232,336 shares of the real estate investment trust’s stock after acquiring an additional 8,003 shares during the quarter. Rhumbline Advisers’ holdings in SL Green Realty were worth $15,780,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. FMR LLC raised its position in shares of SL Green Realty by 69.1% during the 3rd quarter. FMR LLC now owns 58,185 shares of the real estate investment trust’s stock worth $4,050,000 after acquiring an additional 23,780 shares in the last quarter. Weiss Asset Management LP purchased a new position in shares of SL Green Realty during the third quarter worth approximately $771,000. Asset Management One Co. Ltd. grew its position in shares of SL Green Realty by 10.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust’s stock worth $6,870,000 after acquiring an additional 9,753 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of SL Green Realty by 8.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust’s stock valued at $5,187,000 after acquiring an additional 6,158 shares during the period. Finally, Citigroup Inc. raised its position in SL Green Realty by 54.6% in the 3rd quarter. Citigroup Inc. now owns 85,587 shares of the real estate investment trust’s stock valued at $5,958,000 after purchasing an additional 30,220 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SLG shares. Mizuho raised their price objective on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. raised SL Green Realty from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $51.00 to $80.00 in a report on Tuesday, December 10th. Compass Point upped their price objective on SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Wells Fargo & Company decreased 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. Finally, Truist Financial boosted their target price on SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, SL Green Realty currently has an average rating of “Hold” and an average price target of $71.07.

SL Green Realty Price Performance

SL Green Realty stock opened at $62.72 on Friday. The company has a market cap of $4.14 billion, a P/E ratio of 784.05, a price-to-earnings-growth ratio of 5.40 and a beta of 1.82. SL Green Realty Corp. has a one year low of $45.87 and a one year high of $82.81. The business has a fifty day moving average of $66.50 and a two-hundred day moving average of $69.53. 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 announced its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, beating the consensus estimate 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%. As a group, analysts predict 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. Stockholders of record on Friday, February 28th will be paid a dividend of $0.2575 per share. This represents a $3.09 annualized dividend and a dividend yield of 4.93%. The ex-dividend date is Friday, February 28th. SL Green Realty’s dividend payout ratio (DPR) is 3,862.50%.

Insider Buying and Selling

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $66.30, for a total transaction of $229,066.50. Following the sale, the director now directly owns 2,052 shares in the company, valued at approximately $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.08% of the company’s stock.

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.