CenterBook Partners LP Makes New $774,000 Investment in SL Green Realty Corp. (NYSE:SLG)

CenterBook Partners LP purchased a new stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 11,399 shares of the real estate investment trust's stock, valued at approximately $774,000.

Several other institutional investors have also modified their holdings of SLG. Wolverine Asset Management LLC acquired a new stake in SL Green Realty during the 4th quarter valued at $337,000. Charles Schwab Investment Management Inc. boosted its position in SL Green Realty by 12.6% during 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 acquiring an additional 159,870 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of SL Green Realty by 8.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust's stock valued at $5,187,000 after purchasing an additional 6,158 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of SL Green Realty by 10.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust's stock valued at $6,870,000 after acquiring an additional 9,753 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of SL Green Realty by 69.1% during the 3rd quarter. FMR LLC now owns 58,185 shares of the real estate investment trust's stock worth $4,050,000 after acquiring an additional 23,780 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.

Insider Activity

In other news, Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty stock in a transaction that occurred 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 of the company's stock, valued at $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.08% of the company's stock.

SL Green Realty Stock Performance

Shares of NYSE SLG traded down $0.13 during midday trading on Thursday, reaching $52.18. 507,799 shares of the company traded hands, compared to its average volume of 863,235. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 653.23, a PEG ratio of 5.30 and a beta of 1.61. The stock has a 50-day moving average price of $58.57 and a 200 day moving average price of $67.03. SL Green Realty Corp. has a 52 week low of $45.15 and a 52 week high of $82.81. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58.

SL Green Realty (NYSE:SLG - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $158.44 million. Sell-side analysts anticipate that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.2575 dividend. This is a positive change from SL Green Realty's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.03 annualized dividend and a yield of 1.97%. SL Green Realty's payout ratio is 3,862.50%.

Analysts Set New Price Targets

A number of research firms have recently commented on SLG. Evercore ISI upgraded SL Green Realty from an "in-line" rating to an "outperform" rating and dropped their price objective for the stock from $74.00 to $73.00 in a report on Monday, March 17th. Barclays dropped their target price 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, January 28th. Bank of America reduced their price target on shares of SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Morgan Stanley increased their price objective on shares of SL Green Realty from $52.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 12th. Finally, Scotiabank reduced their target price 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. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $69.87.

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.