Northwestern Mutual Wealth Management Co. Boosts Holdings in SL Green Realty Corporation $SLG

Northwestern Mutual Wealth Management Co. grew its holdings in SL Green Realty Corporation (NYSE:SLG) by 26,799.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,624 shares of the real estate investment trust’s stock after purchasing an additional 33,499 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in SL Green Realty were worth $1,542,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Fourth Dimension Wealth LLC boosted its stake in shares of SL Green Realty by 45.5% in the fourth quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 500 shares during the period. Hosking Partners LLP lifted its stake in SL Green Realty by 18.5% in the fourth quarter. Hosking Partners LLP now owns 290,166 shares of the real estate investment trust’s stock worth $13,310,000 after acquiring an additional 45,337 shares during the last quarter. Nan Fung Trinity HK Ltd. purchased a new position in SL Green Realty in the fourth quarter worth approximately $6,230,000. American Assets Investment Management LLC purchased a new position in SL Green Realty in the fourth quarter worth approximately $1,835,000. Finally, Sequoia Financial Advisors LLC lifted its stake in SL Green Realty by 4.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 13,658 shares of the real estate investment trust’s stock worth $626,000 after acquiring an additional 573 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of SL Green Realty stock opened at $45.39 on Thursday. The firm’s fifty day simple moving average is $40.85 and its 200-day simple moving average is $42.90. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of -18.08 and a beta of 1.60. SL Green Realty Corporation has a 12 month low of $34.77 and a 12 month high of $66.91. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 3.03.

SL Green Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Tuesday, March 31st. SL Green Realty’s payout ratio is presently -98.41%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SLG shares. Citigroup decreased their price target on shares of SL Green Realty from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, March 24th. Mizuho set a $38.00 price target on shares of SL Green Realty and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Truist Financial lifted their price target on shares of SL Green Realty from $44.00 to $46.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Piper Sandler decreased their price target on shares of SL Green Realty from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Finally, BTIG Research decreased their price target on shares of SL Green Realty from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Eight research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $51.20.

SL Green Realty Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.