Zurcher Kantonalbank Zurich Cantonalbank Acquires 14,096 Shares of SL Green Realty Corp. (NYSE:SLG)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in SL Green Realty Corp. (NYSE:SLG) by 46.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,153 shares of the real estate investment trust’s stock after acquiring an additional 14,096 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of SL Green Realty worth $2,999,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wolverine Asset Management LLC bought a new stake in SL Green Realty in the 4th quarter worth $337,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of SL Green Realty by 8.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust’s stock valued at $5,187,000 after purchasing an additional 6,158 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of SL Green Realty by 12.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust’s stock valued at $96,990,000 after purchasing an additional 159,870 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of SL Green Realty by 10.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust’s stock valued at $6,870,000 after purchasing an additional 9,753 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of SL Green Realty by 69.1% during the 3rd quarter. FMR LLC now owns 58,185 shares of the real estate investment trust’s stock valued at $4,050,000 after purchasing an additional 23,780 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of SLG stock opened at $56.67 on Friday. The company has a 50 day moving average price of $63.99 and a 200-day moving average price of $69.34. SL Green Realty Corp. has a 52 week low of $47.22 and a 52 week high of $82.81. The firm has a market capitalization of $4.04 billion, a PE ratio of 708.40, a P/E/G ratio of 5.30 and a beta of 1.82. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, topping analysts’ consensus estimates 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%. As a group, equities research analysts expect that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $0.2575 per share. The ex-dividend date is Friday, February 28th. This represents a $3.09 annualized dividend and a yield of 5.45%. SL Green Realty’s dividend payout ratio (DPR) is 3,862.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of SL Green Realty from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $51.00 to $80.00 in a research note on Tuesday, December 10th. Scotiabank cut their target price on shares of SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Morgan Stanley lifted their target price 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. Jefferies Financial Group cut 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, Mizuho lifted their target price on shares of SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $71.00.

Insider Activity at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the business’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 transaction of $229,066.50. Following the completion of the sale, the director now directly owns 2,052 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. 5.08% of the stock is currently owned by company insiders.

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.