13,574 Shares in SL Green Realty Corp. (NYSE:SLG) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in shares of SL Green Realty Corp. (NYSE:SLG) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 13,574 shares of the real estate investment trust’s stock, valued at approximately $925,000.

Several other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of SL Green Realty by 50.5% in the third quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock valued at $202,777,000 after buying an additional 977,321 shares during the period. Charles Schwab Investment Management Inc. raised its position in SL Green Realty by 12.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust’s stock worth $96,990,000 after acquiring an additional 159,870 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in SL Green Realty by 1.8% in the 4th quarter. Allianz Asset Management GmbH now owns 534,159 shares of the real estate investment trust’s stock valued at $36,280,000 after acquiring an additional 9,299 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of SL Green Realty by 396.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,170 shares of the real estate investment trust’s stock valued at $31,058,000 after purchasing an additional 356,275 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of SL Green Realty by 12.2% in the 4th quarter. Principal Financial Group Inc. now owns 342,758 shares of the real estate investment trust’s stock worth $23,280,000 after purchasing an additional 37,163 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling 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 stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of the sale, the director now owns 2,052 shares of the company’s stock, valued at $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.08% of the company’s stock.

SL Green Realty Trading Up 0.4 %

Shares of NYSE:SLG opened at $57.78 on Tuesday. SL Green Realty Corp. has a 12-month low of $47.22 and a 12-month high of $82.81. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $4.12 billion, a P/E ratio of 722.24, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. The firm has a fifty day moving average of $62.59 and a two-hundred day moving average of $68.83.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS 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%. On average, equities analysts expect that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.25. SL Green Realty’s dividend payout ratio (DPR) is presently 3,862.50%.

Analyst Ratings Changes

Several research firms recently commented on SLG. Morgan Stanley increased their target price on shares of 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 raised their price objective for the stock from $51.00 to $80.00 in a research note on Tuesday, December 10th. 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 target price on the stock. Wells Fargo & Company decreased their price target 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, Bank of America cut their price objective on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.