SL Green Realty Corp. (NYSE:SLG) Director Craig M. Hatkoff Sells 3,455 Shares

SL Green Realty Corp. (NYSE:SLG) Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty stock in a transaction on Friday, January 24th. The stock was 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. The trade was a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

SL Green Realty Stock Up 2.1 %

Shares of NYSE:SLG opened at $67.38 on Tuesday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. The business’s 50 day moving average is $70.73 and its 200 day moving average is $69.33. The stock has a market cap of $4.44 billion, a P/E ratio of 842.24, a price-to-earnings-growth ratio of 5.53 and a beta of 1.82. SL Green Realty Corp. has a 52-week low of $41.88 and a 52-week high of $82.81.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, beating the consensus estimate of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.11% and a net margin of 2.48%. Sell-side analysts predict that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be given a $0.2575 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.09 annualized dividend and a dividend yield of 4.59%. SL Green Realty’s payout ratio is presently 3,862.50%.

Wall Street Analyst Weigh In

SLG has been the subject of a number of analyst reports. Morgan Stanley increased their price target on shares of SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Compass Point raised their price objective on SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Mizuho boosted their target price on SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Piper Sandler restated an “overweight” rating and issued a $90.00 price target (up from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Finally, Bank of America reduced their target price 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. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $69.50.

Hedge Funds Weigh In On SL Green Realty

Several institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in SL Green Realty by 50.5% during the third 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 acquiring an additional 356,275 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of SL Green Realty during the 3rd quarter worth $18,811,000. Charles Schwab Investment Management Inc. boosted its position in SL Green Realty by 8.3% during the third 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 purchasing an additional 97,653 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in SL Green Realty by 9.7% in the second quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust’s stock valued at $56,350,000 after purchasing an additional 88,309 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

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.