Edgestream Partners L.P. Purchases 53,079 Shares of SL Green Realty Corp. (NYSE:SLG)

Edgestream Partners L.P. increased its position in shares of SL Green Realty Corp. (NYSE:SLG) by 127.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 94,699 shares of the real estate investment trust’s stock after acquiring an additional 53,079 shares during the period. Edgestream Partners L.P.’s holdings in SL Green Realty were worth $6,432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in SL Green Realty by 4.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock worth $262,000 after acquiring an additional 148 shares during the period. Versant Capital Management Inc increased its holdings in SL Green Realty by 17.7% during the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 157 shares during the period. MML Investors Services LLC increased its holdings in shares of SL Green Realty by 2.7% in the 3rd quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust’s stock worth $427,000 after buying an additional 161 shares during the last quarter. GAMMA Investing LLC raised its position in shares of SL Green Realty by 5.1% during the 4th quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 203 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of SL Green Realty by 272.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 272 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SLG shares. Truist Financial raised their price objective on shares of SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, January 27th. Mizuho increased their price objective on SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Barclays reduced their price objective on SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Scotiabank reduced their price objective on SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $51.00 to $80.00 in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $70.67.

SL Green Realty Stock Down 3.3 %

SL Green Realty stock opened at $59.82 on Friday. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 747.74, a PEG ratio of 5.30 and a beta of 1.82. The stock has a fifty day simple moving average of $65.11 and a two-hundred day simple moving average of $69.60. SL Green Realty Corp. has a 12 month low of $47.22 and a 12 month high of $82.81. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90.

SL Green Realty (NYSE:SLG) last posted its earnings results 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 analysts predict that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $0.2575 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.09 dividend on an annualized basis and a dividend yield of 5.17%. SL Green Realty’s dividend payout ratio (DPR) is currently 3,862.50%.

Insider Transactions at SL Green Realty

In other news, Director Craig M. Hatkoff sold 3,455 shares of the firm’s stock in a transaction on 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 in the company, valued at $136,047.60. This trade represents a 62.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 5.08% of the company’s stock.

SL Green Realty Company 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.