Sei Investments Co. Increases Position in SL Green Realty Corp. (NYSE:SLG)

Sei Investments Co. lifted its position in shares of SL Green Realty Corp. (NYSE:SLG) by 69.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,155 shares of the real estate investment trust’s stock after buying an additional 34,483 shares during the quarter. Sei Investments Co. owned approximately 0.13% of SL Green Realty worth $5,716,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of SL Green Realty by 12.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust’s stock worth $96,990,000 after buying an additional 159,870 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in SL Green Realty in the 4th quarter valued at $337,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in SL Green Realty by 8.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust’s stock worth $5,187,000 after purchasing an additional 6,158 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of SL Green Realty by 10.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust’s stock valued at $6,870,000 after purchasing an additional 9,753 shares during the last quarter. Finally, FMR LLC grew its position in shares of SL Green Realty by 69.1% during the third quarter. FMR LLC now owns 58,185 shares of the real estate investment trust’s stock valued at $4,050,000 after purchasing an additional 23,780 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Insider Transactions at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.08% of the company’s stock.

SL Green Realty Trading Up 0.5 %

NYSE SLG opened at $57.96 on Wednesday. The stock has a market cap of $4.13 billion, a PE ratio of 724.55, a PEG ratio of 5.30 and a beta of 1.82. SL Green Realty Corp. has a 12 month low of $47.22 and a 12 month high of $82.81. The company’s 50-day moving average price is $62.41 and its 200-day moving average price is $68.75. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS 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%. Equities research analysts forecast that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 1.78%. This is a boost from SL Green Realty’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. SL Green Realty’s dividend payout ratio is currently 3,862.50%.

Analysts Set New Price Targets

SLG has been the subject of several research analyst reports. Wells Fargo & Company cut their price target 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. JPMorgan Chase & Co. raised shares of SL Green Realty from an “underweight” rating to a “neutral” rating and raised their target price for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. Mizuho upped their price target on shares of SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Scotiabank dropped their price objective on shares of SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Finally, Barclays decreased their target price on shares of SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $69.87.

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.