SL Green Realty Corp. (NYSE:SLG) Director Sells $229,066.50 in Stock

SL Green Realty Corp. (NYSE:SLG) Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction that occurred 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 sale, the director now 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 sale was disclosed in a document filed with the SEC, which is accessible through this link.

SL Green Realty Price Performance

NYSE:SLG opened at $63.24 on Thursday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. The business’s 50-day moving average price is $70.28 and its 200 day moving average price is $69.40. SL Green Realty Corp. has a 52-week low of $41.88 and a 52-week high of $82.81. The firm has a market cap of $4.17 billion, a P/E ratio of 790.46, a PEG ratio of 5.53 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data 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 net margin of 2.48% and a negative return on equity of 0.11%. As a group, sell-side analysts predict that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.2575 per share. This represents a $3.09 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Friday, January 31st. SL Green Realty’s dividend payout ratio is presently 3,862.50%.

Institutional Investors Weigh In On SL Green Realty

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in SL Green Realty by 7.7% in the 4th quarter. Van ECK Associates Corp now owns 33,150 shares of the real estate investment trust’s stock worth $2,251,000 after purchasing an additional 2,362 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of SL Green Realty by 9.3% in the fourth quarter. Louisiana State Employees Retirement System now owns 34,200 shares of the real estate investment trust’s stock worth $2,323,000 after acquiring an additional 2,900 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of SL Green Realty in the fourth quarter worth approximately $452,000. Advisors Preferred LLC raised its holdings in shares of SL Green Realty by 58.2% during the fourth quarter. Advisors Preferred LLC now owns 54,459 shares of the real estate investment trust’s stock valued at $3,724,000 after acquiring an additional 20,037 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of SL Green Realty by 28.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,928 shares of the real estate investment trust’s stock valued at $1,014,000 after acquiring an additional 3,285 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SLG shares. Jefferies Financial Group cut their target price on SL Green Realty from $75.00 to $69.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Evercore ISI boosted their target price on shares of SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Compass Point raised their price target 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. Truist Financial lifted their price target on SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a report on Monday. Finally, Piper Sandler restated an “overweight” rating and issued a $90.00 target price (up from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $69.38.

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.