Algert Global LLC Purchases Shares of 5,877 SL Green Realty Corp. (NYSE:SLG)

Algert Global LLC bought a new position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,877 shares of the real estate investment trust's stock, valued at approximately $399,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SLG. Norges Bank purchased a new stake in shares of SL Green Realty in the fourth quarter worth about $48,050,000. Northern Trust Corp lifted its holdings in shares of SL Green Realty by 79.9% in the fourth quarter. Northern Trust Corp now owns 1,429,636 shares of the real estate investment trust's stock worth $97,101,000 after buying an additional 634,788 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of SL Green Realty by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust's stock worth $735,594,000 after buying an additional 564,822 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of SL Green Realty by 30.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,493,208 shares of the real estate investment trust's stock worth $101,419,000 after buying an additional 347,608 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of SL Green Realty by 12.6% in the fourth 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 buying an additional 159,870 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

SL Green Realty Stock Up 1.4%

Shares of SLG traded up $0.83 during trading hours on Friday, hitting $58.84. The company had a trading volume of 814,120 shares, compared to its average volume of 840,460. The firm has a fifty day moving average price of $54.84 and a 200-day moving average price of $64.24. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 735.53, a P/E/G ratio of 5.30 and a beta of 1.59. SL Green Realty Corp. has a 52-week low of $45.15 and a 52-week high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.13. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. The firm had revenue of $144.52 million during the quarter, compared to analyst estimates of $158.44 million. On average, equities research analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were given a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Wednesday, April 30th. SL Green Realty's dividend payout ratio (DPR) is -735.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SLG. Morgan Stanley increased their price target on shares of SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 12th. Truist Financial cut their price target on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Piper Sandler cut their price target on shares of SL Green Realty from $90.00 to $72.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Scotiabank cut their price target on shares of SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Finally, Wells Fargo & Company cut their price target on shares of SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating on the stock in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, SL Green Realty has a consensus rating of "Hold" and an average target price of $67.07.

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.