Wolverine Asset Management LLC Makes New $337,000 Investment in SL Green Realty Corp. (NYSE:SLG)

Wolverine Asset Management LLC acquired a new position in SL Green Realty Corp. (NYSE:SLG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,966 shares of the real estate investment trust’s stock, valued at approximately $337,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in 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 buying an additional 977,321 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 buying an additional 356,275 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in SL Green Realty during the 3rd quarter valued at about $18,811,000. Charles Schwab Investment Management Inc. lifted its holdings in 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 buying an additional 97,653 shares in the last quarter. Finally, Barclays PLC lifted its holdings in 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 buying an additional 83,478 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Stock Down 2.7 %

NYSE:SLG opened at $62.72 on Monday. The company has a market cap of $4.14 billion, a PE ratio of 784.05, a P/E/G ratio of 5.30 and a beta of 1.82. SL Green Realty Corp. has a twelve month low of $45.87 and a twelve 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’s 50 day moving average is $66.26 and its two-hundred day moving average is $69.60.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 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%. Analysts anticipate that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $0.2575 per share. This represents a $3.09 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend is Friday, February 28th. SL Green Realty’s dividend payout ratio (DPR) is presently 3,862.50%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SLG. Barclays reduced their price target on shares of SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Scotiabank boosted their price target on shares of SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a report on Tuesday, December 10th. Wells Fargo & Company reduced their price target on shares of 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. upgraded shares of SL Green Realty from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. Finally, Mizuho boosted their price target on shares of SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, SL Green Realty currently has an average rating of “Hold” and an average price target of $71.07.

Insider Buying and Selling

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the company’s 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 completion of the transaction, the director now directly owns 2,052 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. 5.08% of the stock is currently owned by insiders.

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.