5,862 Shares in SL Green Realty Corp. (NYSE:SLG) Bought by Monument Capital Management

Monument Capital Management purchased a new stake in shares of SL Green Realty Corp. (NYSE:SLG) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,862 shares of the real estate investment trust’s stock, valued at approximately $323,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Phocas Financial Corp. purchased a new stake in SL Green Realty during the 4th quarter worth $3,425,000. Prospect Financial Services LLC purchased a new stake in shares of SL Green Realty during the 4th quarter valued at about $12,373,000. Jump Financial LLC acquired a new position in SL Green Realty during the 4th quarter worth approximately $2,808,000. Wellington Management Group LLP purchased a new position in SL Green Realty in the 3rd quarter worth approximately $38,666,000. Finally, Cyndeo Wealth Partners LLC purchased a new position in SL Green Realty in the 4th quarter worth approximately $4,593,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLG has been the topic of a number of recent research reports. Citigroup boosted their target price on shares of SL Green Realty from $31.00 to $37.00 and gave the stock a “sell” rating in a research report on Thursday, June 13th. JPMorgan Chase & Co. raised their target price on SL Green Realty from $43.00 to $44.00 and gave the company an “underweight” rating in a research note on Thursday, April 25th. Scotiabank lifted their target price on SL Green Realty from $40.00 to $43.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, April 2nd. Morgan Stanley increased their price target on SL Green Realty from $41.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, March 28th. Finally, BMO Capital Markets upgraded SL Green Realty from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $56.00 to $58.00 in a report on Thursday, April 18th. Seven analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $44.62.

SL Green Realty Stock Up 1.5 %

Shares of SL Green Realty stock opened at $56.43 on Thursday. SL Green Realty Corp. has a twelve month low of $28.55 and a twelve month high of $58.54. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of -6.83, a PEG ratio of 1.03 and a beta of 1.83. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 1.01. The business’s 50 day simple moving average is $53.38 and its 200-day simple moving average is $49.92.

SL Green Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date of this dividend is Friday, June 28th. SL Green Realty’s payout ratio 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.