54,268 Shares in SL Green Realty Corp. (NYSE:SLG) Bought by Easterly Investment Partners LLC

Easterly Investment Partners LLC acquired a new stake in SL Green Realty Corp. (NYSE:SLG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 54,268 shares of the real estate investment trust’s stock, valued at approximately $3,686,000.

Other large investors also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new position in SL Green Realty in the third quarter valued at about $35,000. Jones Financial Companies Lllp acquired a new position in shares of SL Green Realty in the 4th quarter valued at approximately $39,000. Versant Capital Management Inc boosted its stake in shares of 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 valued at $71,000 after buying an additional 157 shares during the last quarter. Blue Trust Inc. grew its position 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 worth $116,000 after buying an additional 857 shares in the last quarter. Finally, Game Plan Financial Advisors LLC bought a new stake in shares of SL Green Realty in the fourth quarter worth $149,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Trading Down 0.5 %

Shares of SLG stock opened at $58.87 on Thursday. SL Green Realty Corp. has a 1 year low of $47.22 and a 1 year high of $82.81. The firm has a market capitalization of $4.20 billion, a PE ratio of 735.91, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. The stock has a fifty day moving average of $63.06 and a two-hundred day moving average of $68.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89.

SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, beating the consensus estimate of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. As a group, research analysts expect that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 1.75%. This is an increase from SL Green Realty’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. SL Green Realty’s dividend payout ratio is presently 3,862.50%.

Analysts Set New Price Targets

SLG has been the topic of a number of recent analyst reports. Jefferies Financial Group started coverage on shares of SL Green Realty in a research note on Monday, March 17th. They issued a “hold” rating and a $58.00 target price on the stock. Bank of America reduced their target price on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Evercore ISI raised SL Green Realty from an “in-line” rating to an “outperform” rating and dropped their price target for the company from $74.00 to $73.00 in a research report on Monday, March 17th. JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $51.00 to $80.00 in a research note on Tuesday, December 10th. Finally, Morgan Stanley increased 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 report on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, SL Green Realty has an average rating of “Hold” and a consensus price target of $69.87.

Insider Activity

In related news, Director Craig M. Hatkoff sold 3,455 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.08% of the company’s stock.

SL Green Realty 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.