Russell Investments Group Ltd. Increases Stock Position in SL Green Realty Corp. (NYSE:SLG)

Russell Investments Group Ltd. boosted its stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 11.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 641,163 shares of the real estate investment trust's stock after buying an additional 63,943 shares during the quarter. Russell Investments Group Ltd. owned approximately 1.00% of SL Green Realty worth $29,100,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Private Trust Co. NA bought a new position in SL Green Realty in the fourth quarter valued at $33,000. Financial Gravity Asset Management Inc. increased its position in shares of SL Green Realty by 3,073.3% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 922 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of SL Green Realty during the 3rd quarter valued at about $88,000. Allspring Global Investments Holdings LLC grew its holdings in shares of SL Green Realty by 122.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the real estate investment trust's stock valued at $102,000 after purchasing an additional 1,502 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its holdings in SL Green Realty by 9.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust's stock valued at $117,000 after acquiring an additional 227 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.

Insider Buying and Selling

In other SL Green Realty news, Director Carol N. Brown sold 5,118 shares of the company's stock in a transaction on Friday, February 9th. The stock was sold at an average price of $44.37, for a total transaction of $227,085.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SLG. Truist Financial downgraded SL Green Realty from a "buy" rating to a "hold" rating and boosted their price target for the company from $44.00 to $47.00 in a report on Tuesday, January 16th. TheStreet upgraded shares of SL Green Realty from a "d+" rating to a "c-" rating in a research report on Wednesday, January 10th. BMO Capital Markets raised SL Green Realty from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $56.00 to $58.00 in a report on Thursday, April 18th. The Goldman Sachs Group increased their target price on SL Green Realty from $30.00 to $36.00 and gave the stock a "sell" rating in a research report on Thursday, January 11th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $58.00 target price on shares of SL Green Realty in a research report on Tuesday, March 26th. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, SL Green Realty presently has a consensus rating of "Hold" and a consensus price target of $47.00.

SL Green Realty Trading Down 0.3 %

NYSE:SLG traded down $0.17 during midday trading on Wednesday, hitting $49.66. The stock had a trading volume of 842,033 shares, compared to its average volume of 1,285,731. The company has a quick ratio of 2.23, a current ratio of 2.96 and a debt-to-equity ratio of 1.01. The stock has a 50-day moving average of $50.81 and a 200 day moving average of $44.15. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of -6.01, a PEG ratio of 1.40 and a beta of 1.71. SL Green Realty Corp. has a one year low of $20.51 and a one year high of $55.75.

SL Green Realty Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $3.00 annualized dividend and a dividend yield of 6.04%. SL Green Realty's payout ratio is currently -36.32%.

SL Green Realty 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.