Sumitomo Mitsui Trust Group Inc. Purchases 6,158 Shares of SL Green Realty Corp. (NYSE:SLG)

Sumitomo Mitsui Trust Group Inc. boosted its position in SL Green Realty Corp. (NYSE:SLG) by 8.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 76,367 shares of the real estate investment trust’s stock after purchasing an additional 6,158 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.12% of SL Green Realty worth $5,187,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SLG. Wellington Management Group LLP grew its position 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 valued at $202,777,000 after acquiring an additional 977,321 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of SL Green Realty by 396.3% during 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 valued at $31,058,000 after acquiring an additional 356,275 shares during the period. Point72 Asset Management L.P. bought a new position in shares of SL Green Realty during the 3rd quarter valued at approximately $18,811,000. Charles Schwab Investment Management Inc. grew its position in shares of SL Green Realty by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock valued at $88,275,000 after acquiring an additional 97,653 shares during the period. Finally, Barclays PLC grew its position in shares of SL Green Realty by 304.8% during the 3rd quarter. Barclays PLC now owns 110,866 shares of the real estate investment trust’s stock valued at $7,718,000 after acquiring an additional 83,478 shares during the period. 89.96% of the stock is owned by institutional investors.

SL Green Realty Stock Performance

NYSE SLG opened at $64.49 on Friday. SL Green Realty Corp. has a 1 year low of $42.91 and a 1 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 has a market capitalization of $4.25 billion, a PE ratio of 806.06, a P/E/G ratio of 5.49 and a beta of 1.82. The company’s 50 day simple moving average is $67.62 and its two-hundred day simple moving average is $69.59.

SL Green Realty (NYSE:SLG) last posted its 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%. Analysts predict that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

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

Insider Transactions at SL Green Realty

In other news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction on Friday, January 24th. The shares were 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 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 available at this link. Insiders own 5.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SLG. BMO Capital Markets reissued an “outperform” rating and set a $87.00 target price (up from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. Mizuho increased their target price on shares of SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Jefferies Financial Group dropped 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. Evercore ISI upped their price target on shares of SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Finally, Bank of America dropped their price target on shares of SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.07.

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.