Phocas Financial Corp. Acquires Shares of 75,821 SL Green Realty Corp. (NYSE:SLG)

Phocas Financial Corp. bought a new position in SL Green Realty Corp. (NYSE:SLG - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 75,821 shares of the real estate investment trust's stock, valued at approximately $3,425,000. Phocas Financial Corp. owned approximately 0.12% of SL Green Realty as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLG. Private Trust Co. NA purchased a new stake in SL Green Realty during the fourth quarter valued at about $33,000. Financial Gravity Asset Management Inc. boosted its position in SL Green Realty by 3,073.3% during the third quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 922 shares during the period. Rockefeller Capital Management L.P. boosted its position in SL Green Realty by 92.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,553 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 747 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in SL Green Realty during the third quarter valued at about $88,000. Finally, Allspring Global Investments Holdings LLC boosted its position in SL Green Realty by 122.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the real estate investment trust's stock valued at $102,000 after buying an additional 1,502 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SLG shares. Scotiabank increased their target price on shares of SL Green Realty from $40.00 to $43.00 and gave the stock a "sector underperform" rating in a report on Tuesday, April 2nd. Truist Financial lowered shares of SL Green Realty from a "buy" rating to a "hold" rating and increased their target price for the stock from $44.00 to $47.00 in a report on Tuesday, January 16th. Barclays upgraded shares of SL Green Realty from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $35.00 to $48.00 in a report on Wednesday, March 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of SL Green Realty in a report on Tuesday, January 30th. They set a "hold" rating and a $50.00 target price for the company. Finally, Morgan Stanley increased their price target on shares of SL Green Realty from $41.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 28th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $45.83.

SL Green Realty Stock Down 3.0 %

Shares of NYSE SLG traded down $1.53 on Monday, reaching $49.66. 1,140,050 shares of the company's stock traded hands, compared to its average volume of 1,287,249. SL Green Realty Corp. has a 12 month low of $20.51 and a 12 month high of $55.75. The business's 50 day simple moving average is $49.39 and its two-hundred day simple moving average is $42.83. The company has a market cap of $3.22 billion, a price-to-earnings ratio of -5.47, a price-to-earnings-growth ratio of 1.72 and a beta of 1.71. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.93.

SL Green Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date is Wednesday, March 27th. SL Green Realty's dividend payout ratio is -33.00%.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Carol N. Brown sold 5,118 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $44.37, for a total transaction of $227,085.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Betsy S. Atkins sold 9,894 shares of the firm's stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $47.25, for a total transaction of $467,491.50. Following the completion of the sale, the director now owns 6,886 shares of the company's stock, valued at $325,363.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carol N. Brown sold 5,118 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $44.37, for a total transaction of $227,085.66. The disclosure for this sale can be found here. Insiders own 5.60% of the company's stock.

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.