SL Green Realty Corp. (NYSE:SLG) Shares Sold by Hosking Partners LLP

Hosking Partners LLP trimmed its holdings in SL Green Realty Corp. (NYSE:SLG) by 5.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 253,102 shares of the real estate investment trust’s stock after selling 14,630 shares during the period. Hosking Partners LLP’s holdings in SL Green Realty were worth $17,191,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Blue Trust Inc. grew its position in shares of SL Green Realty by 363.2% in the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 632 shares in the last quarter. International Assets Investment Management LLC increased its stake in SL Green Realty by 6,861.0% during the third quarter. International Assets Investment Management LLC now owns 14,618 shares of the real estate investment trust’s stock valued at $1,018,000 after purchasing an additional 14,408 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in SL Green Realty by 33.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,565 shares of the real estate investment trust’s stock valued at $178,000 after purchasing an additional 649 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised 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 worth $262,000 after purchasing an additional 148 shares during the period. Finally, abrdn plc lifted its position in shares of SL Green Realty by 7.5% in the 3rd quarter. abrdn plc now owns 12,891 shares of the real estate investment trust’s stock worth $897,000 after buying an additional 894 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at SL Green Realty

In related 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 of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.08% of the company’s stock.

SL Green Realty Stock Performance

SLG stock opened at $64.59 on Friday. The company has a 50-day simple moving average of $65.70 and a 200 day simple moving average of $69.61. The company has a market capitalization of $4.26 billion, a P/E ratio of 807.43, a PEG ratio of 5.30 and a beta of 1.82. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. SL Green Realty Corp. has a fifty-two week low of $45.96 and a fifty-two week high of $82.81.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, topping 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%. Sell-side analysts predict that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal 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. This represents a $3.09 annualized dividend and a dividend yield of 4.78%. The ex-dividend date is Friday, February 28th. SL Green Realty’s dividend payout ratio (DPR) is presently 3,862.50%.

Wall Street Analysts Forecast Growth

SLG has been the subject of a number of recent research reports. Barclays lowered their price objective on shares of SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company lowered their target price on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Jefferies Financial Group cut their price target on SL Green Realty from $75.00 to $69.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Compass Point boosted their price objective on SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Finally, Truist Financial increased their target price on 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 given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $71.07.

SL Green Realty 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.