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

Wealthfront Advisers LLC purchased a new position in shares of SL Green Realty Corp. (NYSE:SLG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,511 shares of the real estate investment trust’s stock, valued at approximately $1,189,000.

A number of other large investors also recently modified their holdings of SLG. Venturi Wealth Management LLC lifted its holdings in shares of SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 272 shares during the last quarter. Victory Capital Management Inc. grew its position in SL Green Realty by 6.1% in the third quarter. Victory Capital Management Inc. now owns 23,900 shares of the real estate investment trust’s stock valued at $1,664,000 after acquiring an additional 1,380 shares during the period. Metis Global Partners LLC boosted its stake in SL Green Realty by 31.3% in the third quarter. Metis Global Partners LLC now owns 6,674 shares of the real estate investment trust’s stock worth $465,000 after purchasing an additional 1,591 shares in the last quarter. Quest Partners LLC boosted its stake in SL Green Realty by 350.8% in the third quarter. Quest Partners LLC now owns 2,691 shares of the real estate investment trust’s stock worth $187,000 after purchasing an additional 2,094 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in SL Green Realty in the third quarter worth $365,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty 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 owns 2,052 shares in the company, valued at approximately $136,047.60. This trade represents a 62.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.08% of the company’s stock.

SL Green Realty Stock Performance

NYSE:SLG opened at $56.67 on Friday. The stock has a market cap of $4.04 billion, a P/E ratio of 708.40, a PEG ratio of 5.30 and a beta of 1.82. The stock has a 50 day simple moving average of $63.99 and a 200 day simple moving average of $69.34. 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 Corp. has a 1-year low of $47.22 and a 1-year high of $82.81.

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

SL Green Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.2575 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.09 dividend on an annualized basis and a yield of 5.45%. SL Green Realty’s dividend payout ratio (DPR) is presently 3,862.50%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SLG. Bank of America cut their price target on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Compass Point increased their price target on SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Morgan Stanley increased their price target on SL Green Realty from $52.00 to $55.00 and gave the stock an “equal weight” rating in a report on Wednesday. Wells Fargo & Company decreased their price objective on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Finally, Mizuho raised their price target on SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Two 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $71.00.

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.