Phocas Financial Corp. Sells 94,833 Shares of SL Green Realty Corp. (NYSE:SLG)

Phocas Financial Corp. lowered its position in SL Green Realty Corp. (NYSE:SLG) by 85.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 16,543 shares of the real estate investment trust’s stock after selling 94,833 shares during the period. Phocas Financial Corp.’s holdings in SL Green Realty were worth $1,124,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. grew its position in shares of SL Green Realty by 8.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust’s stock worth $5,187,000 after purchasing an additional 6,158 shares in the last quarter. FMR LLC grew its holdings in SL Green Realty by 69.1% during the 3rd quarter. FMR LLC now owns 58,185 shares of the real estate investment trust’s stock valued at $4,050,000 after buying an additional 23,780 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of SL Green Realty by 10.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust’s stock worth $6,870,000 after buying an additional 9,753 shares in the last quarter. Weiss Asset Management LP purchased a new position in SL Green Realty during the third quarter valued at $771,000. Finally, Empowered Funds LLC bought a new stake in SL Green Realty in the 4th quarter valued at $452,000. 89.96% of the stock is owned by institutional investors.

Insider Activity

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the firm’s 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 in the company, valued at $136,047.60. This trade represents a 62.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 5.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SLG shares. Wells Fargo & Company cut their price objective on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Mizuho raised their price target on SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Jefferies Financial Group decreased their price objective on SL Green Realty from $75.00 to $69.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Compass Point raised their target price on shares of SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Finally, Truist Financial upped their price target on shares of SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating 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 issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $71.07.

SL Green Realty Stock Up 1.2 %

Shares of NYSE SLG opened at $64.16 on Wednesday. SL Green Realty Corp. has a 1 year low of $45.94 and a 1 year high of $82.81. The firm has a 50-day simple moving average of $65.82 and a two-hundred day simple moving average of $69.68. The company has a market cap of $4.23 billion, a P/E ratio of 801.95, a PEG ratio of 5.30 and a beta of 1.82. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58.

SL Green Realty (NYSE:SLG) last released its earnings results 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%. Research analysts anticipate that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $0.2575 per share. This represents a $3.09 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Friday, February 28th. SL Green Realty’s dividend payout ratio (DPR) is presently 3,862.50%.

SL Green Realty Company 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.