International Assets Investment Management LLC Purchases 9,376 Shares of SL Green Realty Corp. (NYSE:SLG)

International Assets Investment Management LLC increased its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 8,523.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,486 shares of the real estate investment trust’s stock after purchasing an additional 9,376 shares during the period. International Assets Investment Management LLC’s holdings in SL Green Realty were worth $428,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Private Trust Co. NA purchased a new position in shares of SL Green Realty during the fourth quarter valued at approximately $33,000. Financial Gravity Asset Management Inc. raised its holdings in shares of SL Green Realty by 3,073.3% during the third quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 922 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of SL Green Realty during the third quarter valued at approximately $88,000. Allspring Global Investments Holdings LLC raised its holdings in shares of SL Green Realty by 122.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 1,502 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its holdings in shares of SL Green Realty by 9.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 227 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Stock Performance

Shares of NYSE SLG opened at $50.88 on Friday. The firm has a fifty day moving average price of $50.51 and a 200-day moving average price of $43.65. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.23. The stock has a market cap of $3.35 billion, a PE ratio of -6.16, a price-to-earnings-growth ratio of 1.42 and a beta of 1.71. SL Green Realty Corp. has a 1 year low of $20.51 and a 1 year high of $55.75.

SL Green Realty Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.90%. SL Green Realty’s dividend payout ratio (DPR) is presently -36.32%.

Insider Transactions at SL Green Realty

In other news, Director Carol N. Brown sold 5,118 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $44.37, for a total value of $227,085.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SLG shares. JPMorgan Chase & Co. boosted their price objective on shares of SL Green Realty from $43.00 to $44.00 and gave the company an “underweight” rating in a report on Thursday. Barclays raised shares of SL Green Realty from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $35.00 to $48.00 in a report on Wednesday, March 27th. Piper Sandler reaffirmed an “overweight” rating and set a $58.00 target price on shares of SL Green Realty in a report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of SL Green Realty in a report on Tuesday, January 30th. They set a “hold” rating and a $50.00 target price for the company. Finally, Scotiabank upped their target price on shares of SL Green Realty from $40.00 to $43.00 and gave the company a “sector underperform” rating in a report on Tuesday, April 2nd. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $47.00.

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.