Kestra Investment Management LLC Sells 9,233 Shares of SL Green Realty Corp. (NYSE:SLG)

Kestra Investment Management LLC decreased its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 73.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,351 shares of the real estate investment trust’s stock after selling 9,233 shares during the period. Kestra Investment Management LLC’s holdings in SL Green Realty were worth $228,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Rosenberg Matthew Hamilton lifted its position in shares of SL Green Realty by 6.6% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 144 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of SL Green Realty by 4.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock valued at $262,000 after acquiring an additional 148 shares during the period. Versant Capital Management Inc boosted its stake in shares of SL Green Realty by 17.7% in the 4th 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. MML Investors Services LLC grew its holdings in shares of SL Green Realty by 2.7% in the 3rd quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust’s stock worth $427,000 after purchasing an additional 161 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of SL Green Realty by 5.1% during the 4th quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust’s stock worth $285,000 after purchasing an additional 203 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 transaction of $229,066.50. Following the transaction, the director now directly owns 2,052 shares in the company, valued at approximately $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 SEC, which is accessible through this link. 5.08% of the stock is owned by company insiders.

SL Green Realty Trading Down 0.2 %

NYSE SLG opened at $65.71 on Thursday. The company has a current ratio of 3.21, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. SL Green Realty Corp. has a 12 month low of $45.25 and a 12 month high of $82.81. The company has a market capitalization of $4.33 billion, a PE ratio of 821.34, a P/E/G ratio of 5.31 and a beta of 1.82. The stock has a 50-day simple moving average of $66.66 and a 200 day simple moving average of $69.56.

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 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%. Research analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The company 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 dividend of $0.2575 per share. The ex-dividend date is Friday, February 28th. This represents a $3.09 dividend on an annualized basis and a dividend yield of 4.70%. SL Green Realty’s dividend payout ratio is 3,862.50%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SLG shares. Jefferies Financial Group cut their target price on shares of SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Wells Fargo & Company reduced their price objective on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Scotiabank raised their target price on SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 10th. Bank of America reduced their price target on shares of SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Finally, Truist Financial upped their target price on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, January 27th. Two equities research 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $71.07.

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.