575 Shares in SL Green Realty Corp. (NYSE:SLG) Bought by Jones Financial Companies Lllp

Jones Financial Companies Lllp purchased a new position in shares of SL Green Realty Corp. (NYSE:SLG) during the fourth quarter, Holdings Channel.com reports. The fund purchased 575 shares of the real estate investment trust’s stock, valued at approximately $39,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in SL Green Realty during the third quarter worth $35,000. Versant Capital Management Inc boosted its holdings in SL Green Realty by 17.7% during the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 157 shares in the last quarter. Blue Trust Inc. raised its position in SL Green Realty by 106.3% during the fourth quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 857 shares during the period. Game Plan Financial Advisors LLC acquired a new position in SL Green Realty during the fourth quarter worth $149,000. Finally, Smartleaf Asset Management LLC raised its position in SL Green Realty by 115.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,251 shares of the real estate investment trust’s stock worth $149,000 after acquiring an additional 1,207 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Price Performance

Shares of SLG stock opened at $57.84 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. The firm’s 50-day moving average is $63.66 and its two-hundred day moving average is $69.24. SL Green Realty Corp. has a 12 month low of $47.22 and a 12 month high of $82.81. The company has a market capitalization of $4.12 billion, a PE ratio of 722.98, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (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%. Analysts predict that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $0.2575 dividend. The ex-dividend date was Friday, February 28th. This represents a $3.09 annualized dividend and a yield of 5.34%. SL Green Realty’s dividend payout ratio (DPR) is currently 3,862.50%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SLG. Mizuho upped 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. Scotiabank reduced their price objective on shares of SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Bank of America reduced their price objective on shares of 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. Truist Financial boosted their price target on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, January 27th. Finally, Morgan Stanley boosted their price target on shares of SL Green Realty from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, SL Green Realty has an average rating of “Hold” and a consensus target price of $69.87.

Insider Activity at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were 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 $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.08% of the stock is owned by insiders.

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.