Yousif Capital Management LLC Has $1.91 Million Stock Position in SL Green Realty Corp. (NYSE:SLG)

Yousif Capital Management LLC lifted its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 5.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,076 shares of the real estate investment trust’s stock after buying an additional 1,517 shares during the period. Yousif Capital Management LLC’s holdings in SL Green Realty were worth $1,907,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SLG. Wellington Management Group LLP raised its holdings in shares of SL Green Realty by 50.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock worth $202,777,000 after buying an additional 977,321 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in SL Green Realty by 396.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,170 shares of the real estate investment trust’s stock worth $31,058,000 after purchasing an additional 356,275 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in SL Green Realty in the 3rd quarter worth about $18,811,000. Charles Schwab Investment Management Inc. increased its holdings in SL Green Realty by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock worth $88,275,000 after purchasing an additional 97,653 shares in the last quarter. Finally, Barclays PLC increased its holdings in SL Green Realty by 304.8% in the 3rd quarter. Barclays PLC now owns 110,866 shares of the real estate investment trust’s stock worth $7,718,000 after purchasing an additional 83,478 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SLG. Evercore ISI upped their target price on SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $90.00 target price (up previously from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Bank of America lowered their target price on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Barclays lowered their target price on SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. raised SL Green Realty from an “underweight” rating to a “neutral” rating and increased their price target for the company from $51.00 to $80.00 in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, SL Green Realty has a consensus rating of “Hold” and an average price target of $71.07.

SL Green Realty Stock Down 0.2 %

Shares of SL Green Realty stock opened at $64.52 on Wednesday. SL Green Realty Corp. has a one year low of $42.10 and a one year high of $82.81. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.21 and a quick ratio of 2.58. The stock’s 50-day moving average is $68.02 and its 200 day moving average is $69.63. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 806.46, a PEG ratio of 5.49 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results 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 negative return on equity of 0.10% and a net margin of 2.48%. Equities research analysts anticipate that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be issued a $0.2575 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.09 annualized dividend and a yield of 4.79%. SL Green Realty’s payout ratio is currently 3,862.50%.

Insiders Place Their Bets

In other SL Green Realty news, 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 transaction, the director now owns 2,052 shares in the company, valued at approximately $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.08% of the company’s stock.

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.