First Trust Advisors LP Boosts Stake in SL Green Realty Corp. (NYSE:SLG)

First Trust Advisors LP grew its stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 292,621 shares of the real estate investment trust's stock after buying an additional 36,492 shares during the period. First Trust Advisors LP owned 0.44% of SL Green Realty worth $19,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SLG. Jones Financial Companies Lllp bought a new stake in shares of SL Green Realty in the 4th quarter worth about $39,000. Quadrant Capital Group LLC boosted its position in SL Green Realty by 37.4% in the 4th quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 208 shares during the period. Versant Capital Management Inc increased its holdings in SL Green Realty by 17.7% during the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 157 shares during the period. Summit Securities Group LLC bought a new stake in shares of SL Green Realty in the fourth quarter valued at about $88,000. Finally, FIL Ltd boosted its stake in shares of SL Green Realty by 53.3% during the fourth quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust's stock valued at $107,000 after purchasing an additional 550 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

SL Green Realty Stock Performance

SL Green Realty stock traded up $0.86 during midday trading on Thursday, hitting $53.47. 597,412 shares of the company were exchanged, compared to its average volume of 880,442. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. SL Green Realty Corp. has a fifty-two week low of $45.15 and a fifty-two week high of $82.81. The business has a fifty day simple moving average of $56.26 and a two-hundred day simple moving average of $66.00. The firm has a market capitalization of $3.81 billion, a PE ratio of 669.50, a price-to-earnings-growth ratio of 5.30 and a beta of 1.61.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its 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. The business had revenue of $144.52 million for the quarter, compared to analyst estimates of $158.44 million. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. On average, sell-side analysts forecast that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Wednesday, April 30th. SL Green Realty's dividend payout ratio is presently -735.71%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America lowered 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 report on Monday, January 27th. 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. Truist Financial lowered their price objective on SL Green Realty from $62.00 to $54.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley upped their target price on 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. Finally, Barclays lowered their price target on SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $67.07.

SL Green Realty Company 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.