Nan Fung Trinity HK Ltd. Buys Shares of 48,500 SL Green Realty Corp. (NYSE:SLG)

Nan Fung Trinity HK Ltd. purchased a new stake in SL Green Realty Corp. (NYSE:SLG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 48,500 shares of the real estate investment trust's stock, valued at approximately $2,191,000. SL Green Realty makes up about 0.5% of Nan Fung Trinity HK Ltd.'s portfolio, making the stock its 21st largest holding. Nan Fung Trinity HK Ltd. owned approximately 0.08% of SL Green Realty at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SLG. Charles Schwab Investment Management Inc. increased its position in shares of SL Green Realty by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,024,383 shares of the real estate investment trust's stock valued at $46,271,000 after purchasing an additional 30,289 shares during the last quarter. Avidian Wealth Solutions LLC purchased a new position in shares of SL Green Realty during the fourth quarter worth approximately $256,000. Natixis Advisors L.P. lifted its holdings in shares of SL Green Realty by 9.5% in the 4th quarter. Natixis Advisors L.P. now owns 18,482 shares of the real estate investment trust's stock worth $834,000 after acquiring an additional 1,599 shares during the last quarter. Essex Financial Services Inc. boosted its stake in shares of SL Green Realty by 6.7% in the 4th quarter. Essex Financial Services Inc. now owns 13,774 shares of the real estate investment trust's stock valued at $622,000 after purchasing an additional 860 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of SL Green Realty by 3.6% during the 4th quarter. Victory Capital Management Inc. now owns 24,223 shares of the real estate investment trust's stock valued at $1,094,000 after purchasing an additional 851 shares during the last quarter. Institutional investors own 89.96% of the company's stock.

Insider Activity 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 on Friday, February 9th. The stock was sold at an average price of $44.37, for a total transaction of $227,085.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on SLG. StockNews.com raised shares of SL Green Realty to a "sell" rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on SL Green Realty from $43.00 to $44.00 and gave the company an "underweight" rating in a report on Thursday, April 25th. Piper Sandler reaffirmed an "overweight" rating and issued a $58.00 price target on shares of SL Green Realty in a research note on Tuesday, March 26th. The Goldman Sachs Group increased their price objective on SL Green Realty from $30.00 to $36.00 and gave the company a "sell" rating in a research note on Thursday, January 11th. Finally, Morgan Stanley lifted their target price 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. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $47.00.

SL Green Realty Stock Up 2.9 %

SLG traded up $1.50 on Thursday, hitting $52.43. The company had a trading volume of 533,703 shares, compared to its average volume of 1,253,219. The stock has a fifty day simple moving average of $51.40 and a 200-day simple moving average of $44.81. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.23. The firm has a market capitalization of $3.45 billion, a P/E ratio of -6.35, a P/E/G ratio of 1.39 and a beta of 1.72. SL Green Realty Corp. has a 52-week low of $20.51 and a 52-week high of $55.75.

SL Green Realty Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date is Monday, April 29th. SL Green Realty's payout ratio is presently -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.