Raymond James Financial Services Advisors Inc. Buys Shares of 10,865 SL Green Realty Corp. (NYSE:SLG)

Raymond James Financial Services Advisors Inc. bought a new stake in SL Green Realty Corp. (NYSE:SLG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,865 shares of the real estate investment trust’s stock, valued at approximately $491,000.

A number of other institutional investors have also recently added to or reduced their stakes in SLG. Rheos Capital Works Inc. lifted its stake in shares of SL Green Realty by 64.6% in the fourth quarter. Rheos Capital Works Inc. now owns 209,000 shares of the real estate investment trust’s stock worth $9,441,000 after buying an additional 82,000 shares during the last quarter. Rosenberg Matthew Hamilton lifted its stake in shares of SL Green Realty by 9.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 227 shares during the last quarter. Legato Capital Management LLC acquired a new stake in shares of SL Green Realty in the fourth quarter worth $596,000. SG Americas Securities LLC lifted its stake in shares of SL Green Realty by 199.3% in the fourth quarter. SG Americas Securities LLC now owns 11,826 shares of the real estate investment trust’s stock worth $534,000 after buying an additional 7,875 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC acquired a new stake in shares of SL Green Realty in the fourth quarter worth $4,593,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Trading Up 2.2 %

Shares of SL Green Realty stock opened at $49.57 on Friday. The firm has a market capitalization of $3.21 billion, a PE ratio of -6.00, a price-to-earnings-growth ratio of 1.66 and a beta of 1.71. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.23 and a quick ratio of 2.23. The company’s fifty day moving average price is $49.94 and its two-hundred day moving average price is $43.18. SL Green Realty Corp. has a 52-week low of $20.51 and a 52-week high of $55.75.

SL Green Realty Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 6.05%. The ex-dividend date of this dividend was Wednesday, March 27th. SL Green Realty’s dividend payout ratio (DPR) is presently -36.32%.

Insider Buying and Selling at SL Green Realty

In other news, Director Betsy S. Atkins sold 9,894 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $47.25, for a total value of $467,491.50. Following the sale, the director now owns 6,886 shares of the company’s stock, valued at approximately $325,363.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Carol N. Brown sold 5,118 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which is available at this hyperlink. Also, Director Betsy S. Atkins sold 9,894 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $47.25, for a total transaction of $467,491.50. Following the transaction, the director now owns 6,886 shares in the company, valued at approximately $325,363.50. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of SL Green Realty from $41.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. Piper Sandler restated an “overweight” rating and issued a $58.00 price objective on shares of SL Green Realty in a research note on Tuesday, March 26th. Truist Financial cut shares of SL Green Realty from a “buy” rating to a “hold” rating and upped their target price for the company from $44.00 to $47.00 in a research note on Tuesday, January 16th. Scotiabank upped their target price on shares of SL Green Realty from $40.00 to $43.00 and gave the company a “sector underperform” rating in a research note on Tuesday, April 2nd. Finally, Barclays upgraded shares of SL Green Realty from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $35.00 to $48.00 in a research note on Wednesday, March 27th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $47.00.

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.