SL Green Realty Corp. (NYSE:SLG) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp increased its position in shares of SL Green Realty Corp. (NYSE:SLG) by 7.7% during the fourth quarter, Holdings Channel reports. The fund owned 33,150 shares of the real estate investment trust’s stock after acquiring an additional 2,362 shares during the quarter. Van ECK Associates Corp’s holdings in SL Green Realty were worth $2,251,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its position in SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 272 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in SL Green Realty during the third quarter worth approximately $35,000. Blue Trust Inc. raised its stake in SL Green Realty by 363.2% during the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 632 shares during the period. Versant Capital Management Inc raised its stake in SL Green Realty by 17.7% during the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 157 shares during the period. Finally, Rosenberg Matthew Hamilton raised its stake in SL Green Realty by 6.6% during the third quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 144 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SLG. JPMorgan Chase & Co. raised shares of SL Green Realty from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $51.00 to $80.00 in a research note on Tuesday, December 10th. Barclays cut their price target on shares of SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company cut their price target on shares of SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Jefferies Financial Group cut their price target on shares of SL Green Realty from $75.00 to $69.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Finally, Scotiabank increased their price target on shares of SL Green Realty from $80.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $71.07.

SL Green Realty Stock Performance

SL Green Realty stock opened at $64.50 on Friday. SL Green Realty Corp. has a 12-month low of $45.25 and a 12-month high of $82.81. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 806.29, a price-to-earnings-growth ratio of 5.42 and a beta of 1.82. 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 firm’s fifty day moving average price is $66.66 and its 200 day moving average price is $69.56.

SL Green Realty (NYSE:SLG) last released 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 net margin of 2.48% and a negative return on equity of 0.10%. On average, research analysts forecast that SL Green Realty Corp. will post 5.43 EPS 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. Investors of record on Friday, February 28th will be paid a dividend of $0.2575 per share. This represents a $3.09 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend is Friday, February 28th. SL Green Realty’s dividend payout ratio (DPR) is 3,862.50%.

Insider Buying and Selling

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.30, for a total transaction of $229,066.50. Following the completion of the transaction, the director now directly owns 2,052 shares of the company’s stock, valued at $136,047.60. This trade represents a 62.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.08% of the stock is currently owned by insiders.

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.