Janney Montgomery Scott LLC Reduces Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

Janney Montgomery Scott LLC lowered its position in SL Green Realty Corp. (NYSE:SLG - Free Report) by 34.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,566 shares of the real estate investment trust's stock after selling 59,165 shares during the quarter. Janney Montgomery Scott LLC owned 0.17% of SL Green Realty worth $5,039,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Private Trust Co. NA acquired a new position in SL Green Realty in the fourth quarter valued at approximately $33,000. Financial Gravity Asset Management Inc. lifted its holdings 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 purchasing an additional 922 shares in the last quarter. 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 increased its stake 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 acquiring an additional 227 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake 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 acquiring an additional 1,502 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on SLG. BMO Capital Markets raised shares of SL Green Realty from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $56.00 to $58.00 in a research report on Thursday, April 18th. Evercore ISI increased their target price on shares of SL Green Realty from $46.00 to $47.00 and gave the stock an "underperform" rating in a research report on Monday, April 22nd. Barclays raised 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 research report on Wednesday, March 27th. JPMorgan Chase & Co. raised their price target on SL Green Realty from $43.00 to $44.00 and gave the company an "underweight" rating in a research report on Thursday, April 25th. Finally, StockNews.com raised SL Green Realty to a "sell" rating in a research report on Wednesday, May 8th. Six 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's stock. According to MarketBeat.com, SL Green Realty presently has an average rating of "Hold" and a consensus target price of $47.00.

SL Green Realty Stock Down 2.6 %

Shares of SLG traded down $1.38 during trading hours on Wednesday, reaching $51.56. The stock had a trading volume of 947,007 shares, compared to its average volume of 1,224,595. 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 52 week low of $21.09 and a 52 week high of $57.33. The firm has a 50-day moving average of $51.90 and a 200 day moving average of $46.28.

SL Green Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date is Thursday, May 30th. SL Green Realty's payout ratio is presently -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.