17,511 Shares in SL Green Realty Corp. (NYSE:SLG) Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC acquired a new position in shares of SL Green Realty Corp. (NYSE:SLG) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 17,511 shares of the real estate investment trust’s stock, valued at approximately $1,189,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in SL Green Realty by 50.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock worth $202,777,000 after buying an additional 977,321 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in SL Green Realty by 396.3% in the third 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 worth $31,058,000 after acquiring an additional 356,275 shares in the last quarter. Point72 Asset Management L.P. bought a new position in SL Green Realty in the third quarter worth approximately $18,811,000. Charles Schwab Investment Management Inc. raised its stake in shares of 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 purchasing an additional 159,870 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of SL Green Realty in the fourth quarter worth approximately $7,705,000. Institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SLG shares. Compass Point increased their price target on SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Truist Financial raised their price target on SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, January 27th. Mizuho raised their price target on SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Scotiabank dropped their price objective on SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Finally, Jefferies Financial Group lowered their price target on SL Green Realty from $75.00 to $69.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, SL Green Realty has a consensus rating of “Hold” and a consensus price target of $71.00.

SL Green Realty Stock Up 2.0 %

Shares of NYSE:SLG opened at $56.67 on Friday. SL Green Realty Corp. has a 1 year low of $47.22 and a 1 year high of $82.81. The company has a market cap of $4.04 billion, a PE ratio of 708.40, a P/E/G ratio of 5.30 and a beta of 1.82. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. The stock’s 50-day moving average is $63.99 and its 200 day moving average is $69.34.

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

SL Green Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $0.2575 dividend. The ex-dividend date is Friday, February 28th. This represents a $3.09 dividend on an annualized basis and a dividend yield of 5.45%. SL Green Realty’s dividend payout ratio is currently 3,862.50%.

Insider Transactions at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the business’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 value of $229,066.50. Following the completion of the transaction, the director now directly owns 2,052 shares in the company, valued at $136,047.60. The trade was a 62.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.