Kestra Investment Management LLC Has $228,000 Stake in SL Green Realty Corp. (NYSE:SLG)

Kestra Investment Management LLC cut its stake in SL Green Realty Corp. (NYSE:SLG) by 73.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,351 shares of the real estate investment trust’s stock after selling 9,233 shares during the period. Kestra Investment Management LLC’s holdings in SL Green Realty were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in 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 purchasing an additional 977,321 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in SL Green Realty by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock valued at $88,275,000 after buying an additional 97,653 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in SL Green Realty by 396.3% in 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 acquiring an additional 356,275 shares in the last quarter. Principal Financial Group Inc. boosted its position in SL Green Realty by 12.2% during 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 acquiring an additional 37,163 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of SL Green Realty during the 3rd quarter worth approximately $18,811,000. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of NYSE:SLG opened at $65.71 on Thursday. SL Green Realty Corp. has a 12-month low of $45.25 and a 12-month high of $82.81. The company’s 50 day moving average price is $66.66 and its two-hundred day moving average price is $69.56. The firm has a market cap of $4.33 billion, a PE ratio of 821.34, a PEG ratio of 5.31 and a beta of 1.82. The company has a quick ratio of 2.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.90.

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

SL Green Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $0.2575 per share. The ex-dividend date is Friday, February 28th. This represents a $3.09 annualized dividend and a yield of 4.70%. SL Green Realty’s dividend payout ratio is 3,862.50%.

Insiders Place Their Bets

In other news, Director Craig M. Hatkoff sold 3,455 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 2,052 shares of the company’s stock, valued at approximately $136,047.60. This represents a 62.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SLG. JPMorgan Chase & Co. raised shares of SL Green Realty from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $51.00 to $80.00 in a research report on Tuesday, December 10th. Mizuho increased 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 note on Tuesday, January 7th. Wells Fargo & Company lowered their target price on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Barclays reduced their price target on SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Finally, Compass Point boosted their price objective 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. Two research 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. According to data from MarketBeat.com, SL Green Realty has an average rating of “Hold” and an average target price of $71.07.

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.