Blue Trust Inc. Has $116,000 Stock Position in SL Green Realty Corp. (NYSE:SLG)

Blue Trust Inc. grew its holdings in SL Green Realty Corp. (NYSE:SLG) by 106.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,663 shares of the real estate investment trust’s stock after buying an additional 857 shares during the period. Blue Trust Inc.’s holdings in SL Green Realty were worth $116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its position in SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 272 shares during the period. Point72 DIFC Ltd bought a new position in SL Green Realty in the 3rd quarter valued at about $35,000. Friedenthal Financial acquired a new position in shares of SL Green Realty in the third quarter valued at approximately $49,000. Versant Capital Management Inc lifted its holdings in SL Green Realty by 17.7% during the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 157 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its stake in SL Green Realty by 6.6% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 144 shares during the period. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Price Performance

SLG stock opened at $66.79 on Friday. The firm has a 50 day simple moving average of $68.73 and a two-hundred day simple moving average of $69.51. SL Green Realty Corp. has a one year low of $41.88 and a one year high of $82.81. 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 stock has a market cap of $4.40 billion, a PE ratio of 834.86, a P/E/G ratio of 5.54 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS 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%. On average, analysts predict that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.2575 per share. This represents a $3.09 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Friday, January 31st. SL Green Realty’s dividend payout ratio (DPR) is presently 3,862.50%.

Insiders Place Their Bets

In other news, Director Craig M. Hatkoff sold 3,455 shares of the 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 transaction, the director now directly owns 2,052 shares of the company’s stock, valued at $136,047.60. This represents a 62.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SLG. Truist Financial lifted their target price on SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, January 27th. Scotiabank increased their target price on shares of SL Green Realty from $80.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 10th. Compass Point lifted 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. BMO Capital Markets reissued an “outperform” rating and set a $87.00 price target (up previously from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. upgraded 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 research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.