Vanderbilt University Makes New Investment in SL Green Realty Corp. (NYSE:SLG)

Vanderbilt University bought a new position in shares of SL Green Realty Corp. (NYSE:SLG) during the 4th quarter, Holdings Channel reports. The firm bought 3,798 shares of the real estate investment trust’s stock, valued at approximately $258,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLG. Venturi Wealth Management LLC grew its holdings in 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 worth $26,000 after acquiring an additional 272 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of SL Green Realty in the third quarter worth about $35,000. Friedenthal Financial acquired a new position in shares of SL Green Realty during the third quarter worth approximately $49,000. Blue Trust Inc. grew its stake in shares of SL Green Realty by 363.2% during the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 632 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of SL Green Realty by 17.7% in the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 157 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Price Performance

Shares of SLG stock opened at $66.21 on Thursday. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 827.56, a price-to-earnings-growth ratio of 5.54 and a beta of 1.82. SL Green Realty Corp. has a 12-month low of $41.88 and a 12-month high of $82.81. The company has a quick ratio of 2.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.90. The firm has a fifty day moving average of $68.98 and a 200-day moving average of $69.53.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) 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%. On average, equities research analysts forecast 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 announced a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.2575 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.09 annualized dividend and a yield of 4.67%. SL Green Realty’s dividend payout ratio (DPR) is currently 3,862.50%.

Wall Street Analysts Forecast Growth

SLG has been the topic of several research reports. Truist Financial upped their price objective on SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, January 27th. BMO Capital Markets reiterated an “outperform” rating and issued a $87.00 price objective (up from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. Jefferies Financial Group cut their target price on shares of 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. Compass Point lifted their price target on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. upgraded shares of 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 report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.07.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the sale, the director now owns 2,052 shares of the company’s stock, valued at $136,047.60. This trade represents a 62.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 5.08% of the company’s stock.

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.