1,100 Shares in SL Green Realty Corp. (NYSE:SLG) Bought by Fourth Dimension Wealth LLC

Fourth Dimension Wealth LLC bought a new position in SL Green Realty Corp. (NYSE:SLG) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 1,100 shares of the real estate investment trust’s stock, valued at approximately $75,000.

A number of other large investors also recently modified their holdings of SLG. Jones Financial Companies Lllp bought a new position in shares of SL Green Realty in the 4th quarter worth $39,000. Quadrant Capital Group LLC lifted its stake in SL Green Realty by 37.4% during the 4th quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 208 shares in the last quarter. Summit Securities Group LLC bought a new position in SL Green Realty during the 4th quarter valued at $88,000. FIL Ltd lifted its stake in SL Green Realty by 53.3% during the 4th quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 550 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in 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 valued at $116,000 after acquiring an additional 857 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Trading Up 0.6%

Shares of SL Green Realty stock opened at $55.54 on Friday. SL Green Realty Corp. has a 52-week low of $45.15 and a 52-week high of $82.81. The stock’s 50-day simple moving average is $54.78 and its 200 day simple moving average is $63.73. The stock has a market capitalization of $3.96 billion, a P/E ratio of 694.25, a P/E/G ratio of 5.30 and a beta of 1.59. 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 announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.13. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. The business had revenue of $144.52 million for the quarter, compared to analysts’ expectations of $158.44 million. As a group, research analysts anticipate that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Friday, May 30th. SL Green Realty’s dividend payout ratio is currently -735.71%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SLG. Evercore ISI upgraded SL Green Realty from an “in-line” rating to an “outperform” rating and dropped their price objective for the company from $74.00 to $73.00 in a research note on Monday, March 17th. Truist Financial dropped their price objective on SL Green Realty from $62.00 to $54.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Piper Sandler dropped their price objective on SL Green Realty from $90.00 to $72.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Bank of America dropped their price objective on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Finally, Barclays lowered their target price on SL Green Realty from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 30th. Two investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $66.33.

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.