SL Green Realty Corp. (NYSE:SLG) Shares Sold by Gagnon Securities LLC

Gagnon Securities LLC lessened its position in SL Green Realty Corp. (NYSE:SLG) by 5.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 30,277 shares of the real estate investment trust’s stock after selling 1,577 shares during the period. Gagnon Securities LLC’s holdings in SL Green Realty were worth $2,056,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SLG. Custom Index Systems LLC purchased a new stake in SL Green Realty in the fourth quarter valued at approximately $205,000. Caprock Group LLC purchased a new stake in SL Green Realty in the fourth quarter valued at approximately $319,000. Vert Asset Management LLC grew its holdings in SL Green Realty by 11.4% in the fourth quarter. Vert Asset Management LLC now owns 29,976 shares of the real estate investment trust’s stock valued at $2,036,000 after purchasing an additional 3,067 shares during the period. KBC Group NV grew its holdings in SL Green Realty by 49.5% in the fourth quarter. KBC Group NV now owns 2,763 shares of the real estate investment trust’s stock valued at $188,000 after purchasing an additional 915 shares during the period. Finally, Blue Trust Inc. grew its holdings in SL Green Realty by 106.3% in the fourth quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 857 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SLG. Morgan Stanley boosted their target price 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. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $51.00 to $80.00 in a research note on Tuesday, December 10th. Barclays decreased their price objective on shares of SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Tuesday. Piper Sandler reiterated an “overweight” rating and set a $90.00 price objective (up from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Finally, Truist Financial boosted their price objective on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $70.67.

Insider Activity at SL Green Realty

In other SL Green Realty 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 transaction of $229,066.50. Following the sale, the director now directly owns 2,052 shares of the company’s stock, valued at approximately $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.08% of the stock is currently owned by corporate insiders.

SL Green Realty Price Performance

Shares of SLG stock opened at $67.41 on Friday. The company has a market capitalization of $4.44 billion, a PE ratio of 842.63, a price-to-earnings-growth ratio of 5.20 and a beta of 1.82. The firm has a fifty day simple moving average of $69.74 and a 200-day simple moving average of $69.33. The company has a current ratio of 3.21, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. SL Green Realty Corp. has a twelve month low of $41.88 and a twelve month high of $82.81.

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

SL Green Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be issued a $0.2575 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.09 annualized dividend and a yield of 4.58%. SL Green Realty’s dividend payout ratio is presently 3,862.50%.

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.