Nomura Asset Management Co. Ltd. Buys 12,530 Shares of SL Green Realty Corp. (NYSE:SLG)

Nomura Asset Management Co. Ltd. boosted its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 15.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,080 shares of the real estate investment trust’s stock after purchasing an additional 12,530 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.14% of SL Green Realty worth $6,390,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLG. Point72 DIFC Ltd bought a new stake in shares of SL Green Realty during the 3rd quarter worth $35,000. Jones Financial Companies Lllp acquired a new stake in shares of SL Green Realty in the fourth quarter valued at about $39,000. Versant Capital Management Inc increased its stake in shares of SL Green Realty by 17.7% in the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 157 shares during the period. Blue Trust Inc. lifted its position in shares of SL Green Realty by 106.3% during the 4th quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 857 shares during the last quarter. Finally, Game Plan Financial Advisors LLC acquired a new stake in SL Green Realty in the 4th quarter valued at approximately $149,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Stock Up 0.4 %

SLG opened at $57.78 on Tuesday. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 722.24, a PEG ratio of 5.30 and a beta of 1.82. SL Green Realty Corp. has a twelve month low of $47.22 and a twelve month high of $82.81. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. The firm’s 50-day simple moving average is $62.59 and its 200-day simple moving average is $68.83.

SL Green Realty (NYSE:SLG) last announced its 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%. Equities research analysts anticipate that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.2575 dividend. The ex-dividend date is Monday, March 31st. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.25. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.78%. SL Green Realty’s dividend payout ratio (DPR) is 3,862.50%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SLG shares. JPMorgan Chase & Co. raised SL Green Realty from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $51.00 to $80.00 in a research report on Tuesday, December 10th. Bank of America decreased 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. Jefferies Financial Group initiated coverage on shares of SL Green Realty in a research report on Monday, March 17th. They set a “hold” rating and a $58.00 price objective for the company. Barclays decreased their target price on SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Finally, Evercore ISI raised SL Green Realty from an “in-line” rating to an “outperform” rating and cut their price target 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.87.

Insider Activity at SL Green Realty

In other SL Green Realty 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 value of $229,066.50. Following the completion of the transaction, the director now directly owns 2,052 shares of the company’s stock, valued at approximately $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.08% of the stock is currently owned by company insiders.

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.