Vert Asset Management LLC Acquires 3,067 Shares of SL Green Realty Corp. (NYSE:SLG)

Vert Asset Management LLC raised its holdings in SL Green Realty Corp. (NYSE:SLG) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,976 shares of the real estate investment trust’s stock after purchasing an additional 3,067 shares during the period. SL Green Realty accounts for about 0.7% of Vert Asset Management LLC’s holdings, making the stock its 29th biggest position. Vert Asset Management LLC’s holdings in SL Green Realty were worth $2,036,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC boosted its holdings in SL Green Realty by 69.1% in the 3rd quarter. FMR LLC now owns 58,185 shares of the real estate investment trust’s stock worth $4,050,000 after buying an additional 23,780 shares during the period. Weiss Asset Management LP bought a new position in shares of SL Green Realty in the third quarter worth $771,000. Citigroup Inc. grew its position in shares of SL Green Realty by 54.6% in the third quarter. Citigroup Inc. now owns 85,587 shares of the real estate investment trust’s stock valued at $5,958,000 after purchasing an additional 30,220 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of SL Green Realty during the 3rd quarter valued at $876,000. Finally, Franklin Resources Inc. purchased a new stake in SL Green Realty during the 3rd quarter worth about $621,000. Institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

SLG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised SL Green Realty from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. Piper Sandler reaffirmed an “overweight” rating and set a $90.00 price objective (up previously from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Mizuho increased their target price on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Truist Financial boosted 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 report on Monday. Finally, Morgan Stanley upped their price target on shares of SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, SL Green Realty presently has a consensus rating of “Hold” and an average target price of $69.50.

SL Green Realty Trading Up 2.1 %

Shares of SLG opened at $67.38 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58. SL Green Realty Corp. has a fifty-two week low of $41.88 and a fifty-two week high of $82.81. The firm has a 50 day moving average price of $70.73 and a 200-day moving average price of $69.33. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 842.24, a PEG ratio of 5.53 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (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 0.11%. As a group, equities research analysts forecast 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 declared a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be paid a $0.2575 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.09 dividend on an annualized basis and a yield of 4.59%. SL Green Realty’s dividend payout ratio (DPR) is currently 3,862.50%.

Insider Buying and Selling at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the company’s stock in a transaction 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 $136,047.60. This represents a 62.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.08% of the company’s stock.

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.