SL Green Realty Corp. (NYSE:SLG) Stake Boosted by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd increased its stake in SL Green Realty Corp. (NYSE:SLG) by 27.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,026 shares of the real estate investment trust’s stock after purchasing an additional 7,892 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.06% of SL Green Realty worth $2,515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SLG. Wellington Management Group LLP boosted its position in SL Green Realty by 50.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock worth $202,777,000 after acquiring an additional 977,321 shares during the period. Charles Schwab Investment Management Inc. boosted its position in 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 worth $96,990,000 after acquiring an additional 159,870 shares during the period. Allianz Asset Management GmbH boosted its position in 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 worth $36,280,000 after acquiring an additional 9,299 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in SL Green Realty by 396.3% during the 3rd 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 worth $31,058,000 after acquiring an additional 356,275 shares during the period. Finally, Principal Financial Group Inc. boosted its position in SL Green Realty by 12.2% during the 4th quarter. Principal Financial Group Inc. now owns 342,758 shares of the real estate investment trust’s stock worth $23,280,000 after acquiring an additional 37,163 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SLG. Wells Fargo & Company reduced their price target 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. Scotiabank reduced their price target on SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Morgan Stanley lifted their price target on SL Green Realty from $52.00 to $55.00 and gave the company an “equal weight” rating in a report on Wednesday, March 12th. Jefferies Financial Group began coverage on SL Green Realty in a report on Monday. They set a “hold” rating and a $58.00 price target for the company. Finally, Mizuho lifted their price target on SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $69.87.

SL Green Realty Stock Performance

Shares of NYSE SLG opened at $58.68 on Thursday. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. The business’s 50 day moving average is $63.54 and its two-hundred day moving average is $69.17. The company has a market cap of $4.18 billion, a P/E ratio of 733.50, a P/E/G ratio of 5.30 and a beta of 1.82. SL Green Realty Corp. has a 12 month low of $47.22 and a 12 month high of $82.81.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, topping 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%. On average, equities analysts expect that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $0.2575 dividend. This represents a $3.09 annualized dividend and a yield of 5.27%. The ex-dividend date was Friday, February 28th. SL Green Realty’s dividend payout ratio is currently 3,862.50%.

Insiders Place Their Bets

In other news, Director Craig M. Hatkoff sold 3,455 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.30, for a total transaction of $229,066.50. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.08% of the company’s stock.

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.