SL Green Realty Corp. (NYSE:SLG) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 13.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,780 shares of the real estate investment trust’s stock after buying an additional 6,882 shares during the period. Thrivent Financial for Lutherans owned about 0.09% of SL Green Realty worth $3,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its holdings 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 valued at $71,000 after purchasing an additional 157 shares in the last quarter. MML Investors Services LLC lifted its stake in SL Green Realty by 2.7% in the 3rd quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust’s stock valued at $427,000 after buying an additional 161 shares in the last quarter. GAMMA Investing LLC boosted its holdings in SL Green Realty by 5.1% in the 4th quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust’s stock worth $285,000 after buying an additional 203 shares during the last quarter. Natixis Advisors LLC increased its stake in SL Green Realty by 1.3% during the 4th quarter. Natixis Advisors LLC now owns 21,820 shares of the real estate investment trust’s stock worth $1,482,000 after buying an additional 284 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of SL Green Realty by 9.3% during the fourth quarter. Ieq Capital LLC now owns 4,542 shares of the real estate investment trust’s stock valued at $308,000 after acquiring an additional 387 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SLG. Scotiabank lowered their price target on SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Compass Point lifted their target price on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Barclays reduced their target price 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. Morgan Stanley raised their price target on shares of SL Green Realty from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 12th. Finally, Truist Financial upped their price objective on shares of SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $69.87.

SL Green Realty Stock Down 0.3 %

Shares of NYSE:SLG opened at $59.24 on Wednesday. The business has a 50-day moving average price of $63.19 and a 200 day moving average price of $69.04. SL Green Realty Corp. has a 12-month low of $47.22 and a 12-month high of $82.81. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 740.50, a PEG ratio of 5.30 and a beta of 1.82.

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, beating 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 expect that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.2575 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from SL Green Realty’s previous quarterly dividend of $0.25. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.74%. SL Green Realty’s payout ratio is presently 3,862.50%.

Insider Activity at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 2,052 shares of the company’s stock, valued at $136,047.60. This represents a 62.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.