SL Green Realty Corp. (NYSE:SLG) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its stake in SL Green Realty Corp. (NYSE:SLG) by 13.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 57,780 shares of the real estate investment trust’s stock after buying an additional 6,882 shares during the quarter. Thrivent Financial for Lutherans’ holdings in SL Green Realty were worth $3,924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Natixis Advisors LLC lifted its stake in SL Green Realty by 1.3% in the fourth 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 during the last quarter. Swiss National Bank lifted its position in shares of SL Green Realty by 0.6% during the 4th 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 last quarter. Wealthfront Advisers LLC acquired a new position in shares of SL Green Realty during the fourth quarter worth $1,189,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in 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 buying an additional 14,096 shares during the last quarter. Finally, Amundi raised its stake in SL Green Realty by 20.8% in the fourth quarter. Amundi now owns 158,185 shares of the real estate investment trust’s stock valued at $10,209,000 after buying an additional 27,212 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Stock Performance

NYSE SLG opened at $59.24 on Wednesday. The firm has a market cap of $4.22 billion, a P/E ratio of 740.50, a P/E/G ratio of 5.30 and a beta of 1.82. SL Green Realty Corp. has a 52-week low of $47.22 and a 52-week high of $82.81. The business’s 50-day moving average price is $63.19 and its 200 day moving average price is $69.04. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, beating the consensus estimate 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%. On average, equities research analysts expect that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.2575 per share. The ex-dividend date is Monday, March 31st. This represents a $1.03 dividend on an annualized basis and a yield of 1.74%. This is an increase from SL Green Realty’s previous quarterly dividend of $0.25. SL Green Realty’s dividend payout ratio is presently 3,862.50%.

Insider Transactions at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the 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 completion of the transaction, the director now directly owns 2,052 shares of the company’s stock, valued at $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SLG shares. Mizuho upped their price objective on SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Truist Financial increased their price target on shares of SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, January 27th. 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 report on Monday, February 3rd. Jefferies Financial Group began coverage on shares of SL Green Realty in a research report on Monday, March 17th. They issued a “hold” rating and a $58.00 target price on the stock. Finally, Bank of America reduced their price target 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. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $69.87.

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.