SL Green Realty Corp. (NYSE:SLG) Shares Bought by Waterloo Capital L.P.

Waterloo Capital L.P. grew its holdings in SL Green Realty Corp. (NYSE:SLG) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,105 shares of the real estate investment trust’s stock after acquiring an additional 2,079 shares during the period. Waterloo Capital L.P.’s holdings in SL Green Realty were worth $1,433,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wolverine Asset Management LLC acquired a new position in SL Green Realty in the fourth quarter valued at approximately $337,000. Charles Schwab Investment Management Inc. lifted its stake in shares of SL Green Realty by 12.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust’s stock valued at $96,990,000 after purchasing an additional 159,870 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in 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 buying an additional 6,158 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in 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 valued at $6,870,000 after buying an additional 9,753 shares in the last quarter. Finally, FMR LLC raised its position in shares of SL Green Realty by 69.1% in the third quarter. FMR LLC now owns 58,185 shares of the real estate investment trust’s stock worth $4,050,000 after acquiring an additional 23,780 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Trading Down 4.0 %

Shares of SL Green Realty stock opened at $50.59 on Monday. SL Green Realty Corp. has a 1-year low of $47.22 and a 1-year high of $82.81. 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 stock has a market cap of $3.61 billion, a P/E ratio of 632.38, a P/E/G ratio of 5.30 and a beta of 1.61. The stock’s 50 day simple moving average is $61.66 and its 200-day simple moving average is $68.39.

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

SL Green Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.2575 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.04%. This is an increase from SL Green Realty’s previous quarterly dividend of $0.25. SL Green Realty’s dividend payout ratio (DPR) is currently 3,862.50%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SLG. Compass Point raised their target price on SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Wells Fargo & Company dropped their price objective on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Barclays reduced their target price on SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Truist Financial boosted their price target on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, January 27th. Finally, Evercore ISI raised shares of SL Green Realty from an “in-line” rating to an “outperform” rating and decreased their price objective for the company from $74.00 to $73.00 in a report on Monday, March 17th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $69.87.

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 completion of the sale, the director now owns 2,052 shares of the company’s stock, valued at $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.