Swiss National Bank Decreases Stake in SL Green Realty Corp. (NYSE:SLG)

Swiss National Bank lowered its position in SL Green Realty Corp. (NYSE:SLG - Free Report) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,898 shares of the real estate investment trust's stock after selling 14,600 shares during the quarter. Swiss National Bank owned about 0.20% of SL Green Realty worth $5,732,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

SLG has been the topic of a number of research analyst reports. BMO Capital Markets upgraded shares of SL Green Realty from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $56.00 to $58.00 in a report on Thursday, April 18th. Morgan Stanley upped 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 report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of SL Green Realty in a report on Tuesday, January 30th. They issued a "hold" rating and a $50.00 price target on the stock. 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. Finally, JPMorgan Chase & Co. increased their target price on shares of SL Green Realty from $43.00 to $44.00 and gave the stock an "underweight" rating in a report on Thursday, April 25th. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $47.00.

SL Green Realty Stock Down 0.4 %

Shares of NYSE:SLG traded down $0.21 during trading on Friday, reaching $52.96. The stock had a trading volume of 699,574 shares, compared to its average volume of 1,240,928. SL Green Realty Corp. has a one year low of $21.09 and a one year high of $57.33. The company has a market capitalization of $3.49 billion, a P/E ratio of -6.41, a PEG ratio of 1.46 and a beta of 1.72. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 1.01. The firm's 50-day simple moving average is $51.79 and its 200 day simple moving average is $45.62.

SL Green Realty Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were issued a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date was Monday, April 29th. SL Green Realty's dividend payout ratio is currently -36.32%.

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.