Ameriprise Financial Inc. Boosts Holdings in SL Green Realty Corp. (NYSE:SLG)

Ameriprise Financial Inc. grew its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 49.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 300,721 shares of the real estate investment trust's stock after purchasing an additional 99,167 shares during the quarter. Ameriprise Financial Inc. owned about 0.46% of SL Green Realty worth $20,437,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Barclays PLC grew its position in SL Green Realty by 304.8% in the 3rd quarter. Barclays PLC now owns 110,866 shares of the real estate investment trust's stock valued at $7,718,000 after purchasing an additional 83,478 shares during the period. Franklin Resources Inc. purchased a new position in SL Green Realty during the 3rd quarter worth $621,000. HB Wealth Management LLC purchased a new position in shares of SL Green Realty in the 4th quarter worth about $304,000. Janney Montgomery Scott LLC boosted its holdings 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 worth $4,478,000 after buying an additional 12,424 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC boosted its holdings in shares of SL Green Realty by 1.8% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 102,317 shares of the real estate investment trust's stock worth $6,949,000 after buying an additional 1,764 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on SLG. Scotiabank dropped their price objective 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. Barclays decreased their price objective on shares of SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company decreased their price objective on shares of SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Monday. Evercore ISI upgraded shares of SL Green Realty from an "in-line" rating to an "outperform" rating and reduced their price target for the company from $74.00 to $73.00 in a research report on Monday, March 17th. Finally, Piper Sandler cut their target price 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. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, SL Green Realty presently has a consensus rating of "Hold" and a consensus target price of $66.33.

SL Green Realty Stock Down 0.8%

Shares of SLG stock traded down $0.46 during mid-day trading on Monday, reaching $58.36. 744,085 shares of the company's stock traded hands, compared to its average volume of 840,074. SL Green Realty Corp. has a 12 month low of $45.15 and a 12 month high of $82.81. The company has a market cap of $4.16 billion, a P/E ratio of 729.50, a P/E/G ratio of 5.30 and a beta of 1.59. 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 company's 50-day moving average price is $54.84 and its 200-day moving average price is $64.24.

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

SL Green Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.76%. SL Green Realty's dividend payout ratio (DPR) is presently -735.71%.

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.