Northern Trust Corp Grows Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

Northern Trust Corp raised its stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 79.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,429,636 shares of the real estate investment trust's stock after acquiring an additional 634,788 shares during the period. Northern Trust Corp owned approximately 2.17% of SL Green Realty worth $97,101,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new stake in shares of SL Green Realty during the fourth quarter worth $39,000. Quadrant Capital Group LLC boosted its holdings in shares of SL Green Realty by 37.4% in the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock valued at $52,000 after acquiring an additional 208 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of SL Green Realty by 17.7% during the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 157 shares during the period. Summit Securities Group LLC purchased a new position in SL Green Realty during the fourth quarter worth about $88,000. Finally, FIL Ltd lifted its position in SL Green Realty by 53.3% in 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 during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Trading Up 0.5 %

Shares of NYSE SLG traded up $0.26 during midday trading on Wednesday, reaching $55.03. 610,506 shares of the stock were exchanged, compared to its average volume of 847,253. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $3.92 billion, a P/E ratio of 687.88, a P/E/G ratio of 5.30 and a beta of 1.59. The stock has a 50 day moving average price of $55.49 and a 200-day moving average price of $65.42. 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 issued its quarterly 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. The company had revenue of $144.52 million for the quarter, compared to analyst estimates of $158.44 million. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. Equities research analysts expect that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Wednesday, April 30th. SL Green Realty's dividend payout ratio is currently -735.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SLG. Wells Fargo & Company cut their target price on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating for the company in a research note on Monday, February 3rd. Barclays lowered their price target on shares of SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group assumed coverage on shares of SL Green Realty in a research note on Monday, March 17th. They issued a "hold" rating and a $58.00 price objective for the company. Scotiabank lowered 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 research report on Friday, February 28th. Finally, Mizuho lifted their price target on shares of SL Green Realty from $45.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Two research 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target 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.