Daiwa Securities Group Inc. Decreases Holdings in SL Green Realty Corp. (NYSE:SLG)

Daiwa Securities Group Inc. trimmed its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,517 shares of the real estate investment trust’s stock after selling 993 shares during the quarter. Daiwa Securities Group Inc.’s holdings in SL Green Realty were worth $882,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Private Trust Co. NA purchased a new stake in shares of SL Green Realty during the 4th quarter valued at about $33,000. Financial Gravity Asset Management Inc. raised its position in SL Green Realty by 3,073.3% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 922 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in SL Green Realty in the 3rd quarter worth about $88,000. Allspring Global Investments Holdings LLC raised its position in SL Green Realty by 122.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 1,502 shares during the period. Finally, Rosenberg Matthew Hamilton raised its position in SL Green Realty by 9.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 227 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SLG has been the topic of a number of recent analyst reports. Truist Financial lowered shares of SL Green Realty from a “buy” rating to a “hold” rating and increased their price objective for the stock from $44.00 to $47.00 in a research report on Tuesday, January 16th. Piper Sandler reissued an “overweight” rating and issued a $58.00 price objective on shares of SL Green Realty in a research report on Tuesday, March 26th. StockNews.com raised shares of SL Green Realty to a “sell” rating in a research report on Saturday, February 3rd. Morgan Stanley raised their target price on shares of SL Green Realty from $41.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of SL Green Realty in a research note on Tuesday, January 30th. They set a “hold” rating and a $50.00 price objective on the stock. Five analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $47.25.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Betsy S. Atkins sold 9,894 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $47.25, for a total value of $467,491.50. Following the completion of the sale, the director now directly owns 6,886 shares in the company, valued at $325,363.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other SL Green Realty news, Director Carol N. Brown sold 5,118 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $44.37, for a total value of $227,085.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Betsy S. Atkins sold 9,894 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $47.25, for a total transaction of $467,491.50. Following the completion of the transaction, the director now directly owns 6,886 shares of the company’s stock, valued at approximately $325,363.50. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

SL Green Realty Price Performance

Shares of SLG opened at $52.13 on Thursday. SL Green Realty Corp. has a twelve month low of $20.51 and a twelve month high of $55.75. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.23 and a current ratio of 2.96. The company has a 50 day moving average of $50.40 and a two-hundred day moving average of $43.60.

SL Green Realty Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a $0.25 dividend. The ex-dividend date is Monday, April 29th. This represents a $3.00 annualized dividend and a yield of 5.75%. SL Green Realty’s dividend payout ratio (DPR) is -36.32%.

SL Green Realty Company 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.