SL Green Realty Corp. (NYSE:SLG) Shares Sold by Hosking Partners LLP

Hosking Partners LLP lessened its stake in SL Green Realty Corp. (NYSE:SLG) by 5.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 253,102 shares of the real estate investment trust’s stock after selling 14,630 shares during the quarter. Hosking Partners LLP owned 0.38% of SL Green Realty worth $17,191,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SLG. Wellington Management Group LLP increased its holdings in SL Green Realty by 50.5% in the third 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 grew its holdings 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 during the period. Point72 Asset Management L.P. acquired a new stake in shares of SL Green Realty in the 3rd quarter worth approximately $18,811,000. Proficio Capital Partners LLC purchased a new position in SL Green Realty in the 4th quarter valued at approximately $7,705,000. Finally, Charles Schwab Investment Management Inc. raised its holdings 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 worth $88,275,000 after purchasing an additional 97,653 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SLG shares. JPMorgan Chase & Co. raised SL Green Realty from an “underweight” rating to a “neutral” rating and upped their target price for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. Scotiabank increased their price objective on shares of SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 10th. Jefferies Financial Group cut their target price on shares of SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Compass Point increased their price target on shares of SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Finally, Bank of America dropped their price objective on shares of SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Two 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 data from MarketBeat.com, SL Green Realty presently has a consensus rating of “Hold” and a consensus price target of $71.07.

Insider Buying and Selling at SL Green Realty

In related 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.08% of the stock is currently owned by corporate insiders.

SL Green Realty Stock Down 0.5 %

Shares of NYSE SLG opened at $64.59 on Friday. The stock has a market capitalization of $4.26 billion, a PE ratio of 807.43, a P/E/G ratio of 5.30 and a beta of 1.82. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. The firm has a fifty day moving average of $65.70 and a 200-day moving average of $69.61. SL Green Realty Corp. has a 52-week low of $45.96 and a 52-week 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 analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. On average, analysts anticipate 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 Monday, March 17th. Investors of record on Friday, February 28th will be issued a $0.2575 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.09 annualized dividend and a yield of 4.78%. SL Green Realty’s payout ratio is 3,862.50%.

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.