Aster Capital Management DIFC Ltd Acquires Shares of 5,680 SL Green Realty Corp. (NYSE:SLG)

Aster Capital Management DIFC Ltd bought a new position in shares of SL Green Realty Corp. (NYSE:SLG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,680 shares of the real estate investment trust’s stock, valued at approximately $386,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SLG. Waterloo Capital L.P. increased its holdings in shares of SL Green Realty by 10.9% in the 4th quarter. Waterloo Capital L.P. now owns 21,105 shares of the real estate investment trust’s stock valued at $1,433,000 after acquiring an additional 2,079 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in SL Green Realty by 37.4% in the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 208 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in SL Green Realty in the fourth quarter valued at approximately $1,877,000. Wells Fargo & Company MN raised its holdings in SL Green Realty by 5.9% during the fourth quarter. Wells Fargo & Company MN now owns 156,047 shares of the real estate investment trust’s stock worth $10,599,000 after purchasing an additional 8,664 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of SL Green Realty by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 1,751,709 shares of the real estate investment trust’s stock worth $119,001,000 after buying an additional 110,594 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLG has been the topic of several research analyst reports. Truist Financial lifted their price target on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, January 27th. Evercore ISI raised SL Green Realty from an “in-line” rating to an “outperform” rating and reduced their target price for the company from $74.00 to $73.00 in a report on Monday, March 17th. Compass Point raised their price target on SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Bank of America reduced their price objective on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Finally, Scotiabank cut their target price on shares of SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $69.87.

SL Green Realty Price Performance

NYSE:SLG opened at $50.59 on Monday. SL Green Realty Corp. has a 12-month low of $47.22 and a 12-month high of $82.81. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 632.38, a price-to-earnings-growth ratio of 5.30 and a beta of 1.61. The company’s 50-day moving average is $61.66 and its two-hundred day moving average is $68.39. 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 issued 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 negative return on equity of 0.10% and a net margin of 2.48%. Research analysts expect that SL Green Realty Corp. will post 5.43 EPS 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. Investors of record on Monday, March 31st will be given a dividend of $0.2575 per share. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.03 annualized dividend and a yield of 2.04%. 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 on Friday, January 24th. The stock was 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 directly owns 2,052 shares in the company, valued at $136,047.60. This represents a 62.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.08% of the stock is currently owned by insiders.

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.