Runnymede Capital Advisors Inc. Takes $163,000 Position in SL Green Realty Corp. (NYSE:SLG)

Runnymede Capital Advisors Inc. purchased a new stake in shares of SL Green Realty Corp. (NYSE:SLG) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 2,400 shares of the real estate investment trust’s stock, valued at approximately $163,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Versant Capital Management Inc grew its holdings in shares of SL Green Realty by 17.7% during 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 acquiring an additional 157 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of SL Green Realty by 2.7% during the 3rd quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust’s stock valued at $427,000 after acquiring an additional 161 shares in the last quarter. GAMMA Investing LLC grew its holdings 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 valued at $285,000 after acquiring an additional 203 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of SL Green Realty by 1.3% during the 4th quarter. Natixis Advisors LLC now owns 21,820 shares of the real estate investment trust’s stock valued at $1,482,000 after acquiring an additional 284 shares in the last quarter. Finally, Ieq Capital LLC grew its holdings in shares of SL Green Realty by 9.3% during the 4th quarter. Ieq Capital LLC now owns 4,542 shares of the real estate investment trust’s stock valued at $308,000 after acquiring an additional 387 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Stock Down 1.5 %

Shares of SLG opened at $57.40 on Friday. The company has a 50-day simple moving average of $63.33 and a 200-day simple moving average of $69.03. The firm has a market capitalization of $4.09 billion, a P/E ratio of 717.55, 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 quick ratio of 2.58 and a current ratio of 2.89. SL Green Realty Corp. has a 52 week low of $47.22 and a 52 week high of $82.81.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 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, equities research analysts expect that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.2575 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.79%. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.25. SL Green Realty’s dividend payout ratio is currently 3,862.50%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Truist Financial lifted their price objective on shares of SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, January 27th. Scotiabank reduced their price objective on shares of 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. Mizuho lifted 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. Morgan Stanley lifted their price objective on shares of SL Green Realty from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 12th. Finally, JPMorgan Chase & Co. raised shares of SL Green Realty from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $51.00 to $80.00 in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, SL Green Realty has a consensus rating of “Hold” and an average price target of $69.87.

Insider Activity

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 stock was sold at an average price of $66.30, for a total transaction of $229,066.50. Following the sale, the director now directly owns 2,052 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.08% of the stock is owned by company insiders.

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.