Smartleaf Asset Management LLC Has $149,000 Position in SL Green Realty Corp. (NYSE:SLG)

Smartleaf Asset Management LLC grew its position in shares of SL Green Realty Corp. (NYSE:SLG) by 115.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,251 shares of the real estate investment trust’s stock after purchasing an additional 1,207 shares during the period. Smartleaf Asset Management LLC’s holdings in SL Green Realty were worth $149,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLG. Metis Global Partners LLC boosted its position in SL Green Realty by 20.1% during the 4th quarter. Metis Global Partners LLC now owns 8,013 shares of the real estate investment trust’s stock worth $544,000 after buying an additional 1,339 shares during the period. Mutual of America Capital Management LLC raised its stake in shares of SL Green Realty by 9.8% during the fourth quarter. Mutual of America Capital Management LLC now owns 10,706 shares of the real estate investment trust’s stock valued at $727,000 after acquiring an additional 957 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of SL Green Realty during the fourth quarter worth $7,705,000. Oregon Public Employees Retirement Fund grew its stake in shares of SL Green Realty by 8.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 16,612 shares of the real estate investment trust’s stock worth $1,128,000 after purchasing an additional 1,337 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its stake in shares of SL Green Realty by 18.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 39,637 shares of the real estate investment trust’s stock worth $2,692,000 after purchasing an additional 6,214 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 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 $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on SLG. Scotiabank cut their target price on SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company cut their price objective on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Barclays decreased their target price on shares of SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Bank of America dropped their price target on shares of SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Finally, Compass Point upped their price objective on shares of SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Two research 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.67.

SL Green Realty Price Performance

SLG stock opened at $59.82 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. The company’s 50-day moving average is $65.11 and its 200-day moving average is $69.60. The stock has a market capitalization of $4.27 billion, a PE ratio of 747.74, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. SL Green Realty Corp. has a 1 year low of $47.22 and a 1 year high of $82.81.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Equities research analysts expect that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.2575 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.09 dividend on an annualized basis and a yield of 5.17%. 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.