Xponance Inc. Acquires 1,070 Shares of SL Green Realty Corp. (NYSE:SLG)

Xponance Inc. raised its holdings in SL Green Realty Corp. (NYSE:SLG) by 24.8% in the 4th quarter, HoldingsChannel reports. The firm owned 5,388 shares of the real estate investment trust’s stock after purchasing an additional 1,070 shares during the quarter. Xponance Inc.’s holdings in SL Green Realty were worth $366,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Quest Partners LLC raised its holdings in shares of SL Green Realty by 350.8% in the third quarter. Quest Partners LLC now owns 2,691 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 2,094 shares during the last quarter. Intech Investment Management LLC acquired a new stake in SL Green Realty in the 3rd quarter valued at about $1,314,000. Charles Schwab Investment Management Inc. lifted its position in shares of SL Green Realty by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock worth $88,275,000 after purchasing an additional 97,653 shares in the last quarter. Citigroup Inc. grew its stake in shares of SL Green Realty by 54.6% during 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 during the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of SL Green Realty by 105.3% in the third quarter. Cerity Partners LLC now owns 13,276 shares of the real estate investment trust’s stock valued at $924,000 after purchasing an additional 6,810 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Activity at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on SLG shares. JPMorgan Chase & Co. upgraded 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. Jefferies Financial Group assumed coverage on SL Green Realty in a report on Monday, March 17th. They set a “hold” rating and a $58.00 price objective for the company. Compass Point raised their target price on shares of SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Bank of America dropped their price target on shares of SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Finally, Morgan Stanley raised their price objective on shares of SL Green Realty from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $69.87.

SL Green Realty Stock Down 0.5 %

NYSE:SLG opened at $58.87 on Thursday. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 735.91, a PEG ratio of 5.30 and a beta of 1.82. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average price of $63.06 and a two-hundred day moving average price of $68.97. SL Green Realty Corp. has a 1 year low of $47.22 and a 1 year high of $82.81.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data 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 negative return on equity of 0.10% and a net margin of 2.48%. As a group, equities analysts expect that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.75%. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. SL Green Realty’s dividend payout ratio (DPR) is presently 3,862.50%.

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.