SL Green Realty Corp. (NYSE:SLG) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its position in SL Green Realty Corp. (NYSE:SLG) by 7.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new stake in SL Green Realty in the 3rd quarter valued at approximately $35,000. Jones Financial Companies Lllp acquired a new position in shares of SL Green Realty during the fourth quarter valued at $39,000. Versant Capital Management Inc raised its stake in shares of 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 valued at $71,000 after purchasing an additional 157 shares in the last quarter. Blue Trust Inc. lifted its holdings in SL Green Realty by 106.3% in the fourth quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 857 shares during the period. Finally, Game Plan Financial Advisors LLC bought a new position in SL Green Realty in the 4th quarter valued at about $149,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on SLG shares. Compass Point upped their price target on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Evercore ISI upgraded SL Green Realty from an “in-line” rating to an “outperform” rating and cut their target price for the stock from $74.00 to $73.00 in a research report on Monday, March 17th. Jefferies Financial Group began coverage on SL Green Realty in a research report on Monday, March 17th. They set a “hold” rating and a $58.00 price target on the stock. Barclays cut their price objective on SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Finally, Bank of America dropped their price target on shares of SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, SL Green Realty currently has a consensus rating of “Hold” and an average target price of $69.87.

Insider Buying and Selling

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.08% of the stock is owned by corporate insiders.

SL Green Realty Stock Down 1.0 %

Shares of NYSE:SLG opened at $58.32 on Friday. SL Green Realty Corp. has a 52 week low of $47.22 and a 52 week 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. The company has a market cap of $4.16 billion, a PE ratio of 728.98, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. The firm has a 50 day simple moving average of $62.92 and a 200 day simple moving average of $68.89.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (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%. As a group, 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.2575 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from SL Green Realty’s previous quarterly dividend of $0.25. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.77%. SL Green Realty’s dividend 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.