Charles Schwab Investment Management Inc. Has $46.27 Million Stock Position in SL Green Realty Corp. (NYSE:SLG)

Charles Schwab Investment Management Inc. lifted its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,024,383 shares of the real estate investment trust's stock after purchasing an additional 30,289 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.59% of SL Green Realty worth $46,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Rosenberg Matthew Hamilton lifted its position 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 in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of SL Green Realty by 1.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 13,739 shares of the real estate investment trust's stock worth $621,000 after purchasing an additional 255 shares in the last quarter. Arden Trust Co lifted its position in shares of SL Green Realty by 1.5% in the fourth quarter. Arden Trust Co now owns 23,935 shares of the real estate investment trust's stock worth $1,081,000 after purchasing an additional 356 shares in the last quarter. Gotham Asset Management LLC lifted its position in shares of SL Green Realty by 3.6% in the third quarter. Gotham Asset Management LLC now owns 10,526 shares of the real estate investment trust's stock worth $393,000 after purchasing an additional 362 shares in the last quarter. Finally, Lido Advisors LLC lifted its position in shares of SL Green Realty by 1.1% in the third quarter. Lido Advisors LLC now owns 36,646 shares of the real estate investment trust's stock worth $1,367,000 after purchasing an additional 405 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SLG. Deutsche Bank Aktiengesellschaft began coverage on SL Green Realty in a report on Tuesday, January 30th. They issued a "hold" rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on SL Green Realty from $43.00 to $44.00 and gave the stock an "underweight" rating in a report on Thursday, April 25th. Barclays upgraded SL Green Realty from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $35.00 to $48.00 in a report on Wednesday, March 27th. StockNews.com upgraded SL Green Realty to a "sell" rating in a report on Wednesday, May 8th. Finally, Scotiabank increased their price objective on SL Green Realty from $40.00 to $43.00 and gave the stock a "sector underperform" rating in a report on Tuesday, April 2nd. Six analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, SL Green Realty presently has an average rating of "Hold" and a consensus target price of $47.00.

SL Green Realty Stock Performance

Shares of SL Green Realty stock traded down $0.18 during midday trading on Friday, hitting $52.99. The company had a trading volume of 699,699 shares, compared to its average volume of 986,185. The business's 50 day simple moving average is $51.82 and its two-hundred day simple moving average is $46.02. The stock has a market cap of $3.49 billion, a PE ratio of -6.42, a P/E/G ratio of 1.43 and a beta of 1.72. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.96. SL Green Realty Corp. has a 1-year low of $21.09 and a 1-year high of $57.33.

SL Green Realty Cuts Dividend

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

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.