Candriam S.C.A. bought a new stake in SL Green Realty Corp. (NYSE:SLG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 104,914 shares of the real estate investment trust's stock, valued at approximately $7,126,000. Candriam S.C.A. owned approximately 0.16% of SL Green Realty as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wolverine Asset Management LLC bought a new position in SL Green Realty in the 4th quarter valued at about $337,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of SL Green Realty by 8.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust's stock valued at $5,187,000 after purchasing an additional 6,158 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of SL Green Realty by 10.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust's stock valued at $6,870,000 after purchasing an additional 9,753 shares in the last quarter. FMR LLC boosted its position in shares of SL Green Realty by 69.1% during the 3rd quarter. FMR LLC now owns 58,185 shares of the real estate investment trust's stock valued at $4,050,000 after purchasing an additional 23,780 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in shares of SL Green Realty during the 4th quarter valued at about $452,000. Institutional investors own 89.96% of the company's stock.
In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.08% of the company's stock.
Several equities analysts have recently weighed in on the stock. Bank of America reduced their price objective on shares of SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a research report on Monday, January 27th. Jefferies Financial Group reduced their price objective on shares of SL Green Realty from $75.00 to $69.00 and set a "hold" rating for the company in a research report on Thursday, January 2nd. Compass Point upped their price objective on shares of SL Green Realty from $65.00 to $75.00 and gave the company a "neutral" rating in a research note on Wednesday, December 11th. Mizuho upped their price objective on shares of SL Green Realty from $45.00 to $67.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Finally, Barclays reduced their price objective on shares of SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, SL Green Realty has a consensus rating of "Hold" and an average target price of $70.67.
Read Our Latest Stock Report on SL Green Realty
NYSE SLG traded up $2.20 during trading on Friday, reaching $62.01. The company's stock had a trading volume of 942,362 shares, compared to its average volume of 848,845. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $4.42 billion, a PE ratio of 775.15, a PEG ratio of 5.30 and a beta of 1.82. The business has a 50-day moving average price of $65.02 and a 200-day moving average price of $69.58. SL Green Realty Corp. has a 1-year low of $47.22 and a 1-year high of $82.81.
SL Green Realty (NYSE:SLG - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. On average, research analysts forecast that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a $0.2575 dividend. This represents a $3.09 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Friday, February 28th. SL Green Realty's dividend payout ratio (DPR) is presently 3,862.50%.
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.
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