MetLife Investment Management LLC Grows Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

MetLife Investment Management LLC lifted its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 13.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,417 shares of the real estate investment trust's stock after buying an additional 5,355 shares during the period. MetLife Investment Management LLC owned approximately 0.07% of SL Green Realty worth $3,017,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Walleye Capital LLC bought a new stake in SL Green Realty during the fourth quarter worth $857,000. Wolverine Asset Management LLC bought a new stake in shares of SL Green Realty during the 4th quarter worth $337,000. Charles Schwab Investment Management Inc. boosted its stake in 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 valued at $96,990,000 after buying an additional 159,870 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in 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 acquiring an additional 6,158 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in SL Green Realty by 10.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust's stock worth $6,870,000 after acquiring an additional 9,753 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SLG shares. Barclays lowered their price objective on shares of SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday. Piper Sandler dropped their price objective on shares of SL Green Realty from $90.00 to $72.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Morgan Stanley increased their price objective on SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a report on Wednesday, March 12th. Jefferies Financial Group assumed coverage on SL Green Realty in a research note on Monday, March 17th. They issued a "hold" rating and a $58.00 price objective on the stock. Finally, Bank of America dropped 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. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $67.07.

SL Green Realty Stock Down 0.8 %

Shares of NYSE SLG traded down $0.43 during trading on Wednesday, hitting $52.55. The stock had a trading volume of 1,054,424 shares, compared to its average volume of 851,170. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. The firm has a fifty day moving average of $56.47 and a two-hundred day moving average of $66.09. 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 capitalization of $3.75 billion, a PE ratio of 656.88, a PEG 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 EPS for the quarter, topping the consensus estimate of $1.27 by $0.13. The firm had revenue of $144.52 million for the quarter, compared to analysts' expectations of $158.44 million. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. As a group, equities research analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 dividend yield of 1.96%. The ex-dividend date is Wednesday, April 30th. SL Green Realty's dividend payout ratio is currently -735.71%.

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.