SL Green Realty Corp. (NYSE:SLG) Shares Sold by Opinicus Capital Inc.

Opinicus Capital Inc. reduced its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 10.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,783 shares of the real estate investment trust’s stock after selling 987 shares during the period. Opinicus Capital Inc.’s holdings in SL Green Realty were worth $597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of SL Green Realty by 69.1% during the third quarter. FMR LLC now owns 58,185 shares of the real estate investment trust’s stock valued at $4,050,000 after acquiring an additional 23,780 shares in the last quarter. Weiss Asset Management LP acquired a new position in SL Green Realty during the 3rd quarter valued at approximately $771,000. Citigroup Inc. lifted its stake in shares of SL Green Realty by 54.6% during the third quarter. Citigroup Inc. now owns 85,587 shares of the real estate investment trust’s stock worth $5,958,000 after buying an additional 30,220 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of SL Green Realty during the third quarter valued at $876,000. Finally, Janney Montgomery Scott LLC raised its stake in SL Green Realty by 23.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 65,933 shares of the real estate investment trust’s stock worth $4,478,000 after acquiring an additional 12,424 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Trading Down 1.2 %

SLG opened at $65.97 on Friday. 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 company’s 50 day simple moving average is $68.49 and its two-hundred day simple moving average is $69.49. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 824.59, a price-to-earnings-growth ratio of 5.49 and a beta of 1.82. SL Green Realty Corp. has a 1-year low of $42.10 and a 1-year 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, topping 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%. Analysts expect that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be given a dividend of $0.2575 per share. This represents a $3.09 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, January 31st. SL Green Realty’s payout ratio is currently 3,862.50%.

Insiders Place Their Bets

In related news, Director Craig M. Hatkoff sold 3,455 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $66.30, for a total value of $229,066.50. Following the sale, the director now directly owns 2,052 shares in the company, valued at approximately $136,047.60. The trade was a 62.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.08% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on SLG. Compass Point boosted their price target 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 increased their price target on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $51.00 to $80.00 in a research note on Tuesday, December 10th. Piper Sandler reiterated an “overweight” rating and issued a $90.00 price objective (up previously from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Finally, Truist Financial boosted their target price on shares of SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.