SL Green Realty Corp. (NYSE:SLG) Holdings Lowered by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC trimmed its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,781 shares of the real estate investment trust’s stock after selling 3,145 shares during the quarter. SL Green Realty comprises 1.4% of Moody Aldrich Partners LLC’s holdings, making the stock its 11th biggest position. Moody Aldrich Partners LLC’s holdings in SL Green Realty were worth $7,796,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vert Asset Management LLC grew its position in SL Green Realty by 11.4% in the fourth quarter. Vert Asset Management LLC now owns 29,976 shares of the real estate investment trust’s stock worth $2,036,000 after buying an additional 3,067 shares during the last quarter. KBC Group NV grew its holdings in shares of SL Green Realty by 49.5% in the 4th quarter. KBC Group NV now owns 2,763 shares of the real estate investment trust’s stock worth $188,000 after acquiring an additional 915 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of SL Green Realty by 106.3% in the 4th quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 857 shares during the last quarter. Cyndeo Wealth Partners LLC lifted its holdings in shares of SL Green Realty by 1.8% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 102,317 shares of the real estate investment trust’s stock valued at $6,949,000 after purchasing an additional 1,764 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of SL Green Realty by 23.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 65,933 shares of the real estate investment trust’s stock valued at $4,478,000 after purchasing an additional 12,424 shares during the period. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Stock Down 4.8 %

SL Green Realty stock opened at $64.15 on Wednesday. The company has a market capitalization of $4.23 billion, a P/E ratio of 801.91, a P/E/G ratio of 5.53 and a beta of 1.82. The firm’s fifty day simple moving average is $70.55 and its 200-day simple moving average is $69.38. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06. SL Green Realty Corp. has a 1-year low of $41.88 and a 1-year high of $82.81.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, beating 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 0.11%. Sell-side analysts forecast that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be paid a $0.2575 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.09 dividend on an annualized basis and a yield of 4.82%. SL Green Realty’s payout ratio is presently 3,862.50%.

Analysts Set New Price Targets

SLG has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a research note on Monday. Barclays reduced their price target 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. Mizuho upped their price target on shares of SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Bank of America reduced 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 report on Monday. Finally, Evercore ISI upped their price target on shares of SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $69.38.

Insider Activity at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 2,052 shares in the company, valued at approximately $136,047.60. This trade represents a 62.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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.