2,400 Shares in SL Green Realty Corp. (NYSE:SLG) Bought by Runnymede Capital Advisors Inc.

Runnymede Capital Advisors Inc. acquired a new stake in SL Green Realty Corp. (NYSE:SLG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,400 shares of the real estate investment trust’s stock, valued at approximately $163,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SLG. Point72 DIFC Ltd purchased a new stake in shares of SL Green Realty during the 3rd quarter valued at about $35,000. Jones Financial Companies Lllp purchased a new stake in shares of SL Green Realty during the fourth quarter valued at approximately $39,000. Versant Capital Management Inc raised its stake in shares of SL Green Realty by 17.7% during the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 157 shares during the period. Blue Trust Inc. grew its stake in shares of SL Green Realty by 106.3% during the fourth quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 857 shares in the last quarter. Finally, Game Plan Financial Advisors LLC purchased a new stake in shares of SL Green Realty during the fourth quarter worth about $149,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Stock Performance

SLG opened at $57.40 on Friday. The business’s 50 day moving average is $63.33 and its 200-day moving average is $69.03. The stock has a market cap of $4.09 billion, a PE ratio of 717.55, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. SL Green Realty Corp. has a twelve month low of $47.22 and a twelve month high of $82.81.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share 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 predict that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.2575 per share. This is a boost from SL Green Realty’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. This represents a $1.03 annualized dividend and a yield of 1.79%. SL Green Realty’s payout ratio is presently 3,862.50%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLG. Truist Financial raised their price objective on SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, January 27th. Bank of America decreased their price target on shares of SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Compass Point upped their price target 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. Scotiabank reduced their price objective on shares of SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Finally, Morgan Stanley boosted their target price on shares of SL Green Realty from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $69.87.

Insider Buying and Selling

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $66.30, for a total value of $229,066.50. Following the transaction, the director now owns 2,052 shares in the company, valued at approximately $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.08% of the stock is owned by corporate insiders.

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.