Y Intercept Hong Kong Ltd Makes New Investment in SL Green Realty Corp. (NYSE:SLG)

Y Intercept Hong Kong Ltd acquired a new stake in shares of SL Green Realty Corp. (NYSE:SLG) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,485 shares of the real estate investment trust’s stock, valued at approximately $984,000.

A number of other large investors have also modified their holdings of the company. Wellington Management Group LLP boosted its stake in SL Green Realty by 50.5% during the third quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock worth $202,777,000 after buying an additional 977,321 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of SL Green Realty by 8.3% during the 3rd 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 acquiring an additional 97,653 shares during the period. Allianz Asset Management GmbH boosted its position in shares of SL Green Realty by 1.8% during the 4th quarter. Allianz Asset Management GmbH now owns 534,159 shares of the real estate investment trust’s stock valued at $36,280,000 after acquiring an additional 9,299 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in SL Green Realty by 396.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,170 shares of the real estate investment trust’s stock valued at $31,058,000 after acquiring an additional 356,275 shares during the period. Finally, Principal Financial Group Inc. increased its stake in SL Green Realty by 12.2% in the fourth quarter. Principal Financial Group Inc. now owns 342,758 shares of the real estate investment trust’s stock valued at $23,280,000 after acquiring an additional 37,163 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Stock Performance

SLG opened at $64.59 on Friday. 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 Corp. has a 52-week low of $45.96 and a 52-week high of $82.81. The firm has a market cap of $4.26 billion, a P/E ratio of 807.43, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. The business’s fifty day moving average is $65.70 and its 200-day moving average is $69.61.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 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 0.10%. Sell-side analysts expect that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $0.2575 dividend. The ex-dividend date is Friday, February 28th. This represents a $3.09 dividend on an annualized basis and a yield of 4.78%. SL Green Realty’s payout ratio is presently 3,862.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Mizuho upped their price objective on SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Truist Financial upped their price target on SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, January 27th. Wells Fargo & Company cut their price objective on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Jefferies Financial Group reduced their target price on shares of SL Green Realty from $75.00 to $69.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Finally, Barclays dropped their target price on shares of SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $71.07.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $136,047.60. This represents a 62.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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.