Price T Rowe Associates Inc. MD Has $4.01 Million Stock Position in SL Green Realty Corp. (NYSE:SLG)

Price T Rowe Associates Inc. MD lowered its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 61.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,057 shares of the real estate investment trust's stock after selling 94,001 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.09% of SL Green Realty worth $4,012,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Walleye Capital LLC bought a new stake in SL Green Realty during the 4th quarter worth approximately $857,000. Wolverine Asset Management LLC acquired a new stake in shares of SL Green Realty in the fourth quarter valued at $337,000. Charles Schwab Investment Management Inc. lifted its position in SL Green Realty by 12.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust's stock worth $96,990,000 after buying an additional 159,870 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in SL Green Realty by 8.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust's stock worth $5,187,000 after acquiring an additional 6,158 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in SL Green Realty by 10.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust's stock valued at $6,870,000 after acquiring an additional 9,753 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on SLG shares. Bank of America lowered their price target on shares of SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Morgan Stanley boosted their target price on SL Green Realty from $52.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 12th. Barclays dropped their price objective on SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Mizuho boosted their price target on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group initiated coverage on shares of SL Green Realty in a research note on Monday, March 17th. They issued a "hold" rating and a $58.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $67.07.

SL Green Realty Stock Up 0.5 %

Shares of SLG traded up $0.26 during midday trading on Wednesday, hitting $55.03. The stock had a trading volume of 610,506 shares, compared to its average volume of 847,337. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 687.88, a price-to-earnings-growth ratio of 5.30 and a beta of 1.59. The company has a 50 day simple moving average of $55.49 and a two-hundred day simple moving average of $65.42. SL Green Realty Corp. has a twelve month low of $45.15 and a twelve month high of $82.81. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.13. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. The firm had revenue of $144.52 million during the quarter, compared to the consensus estimate of $158.44 million. On average, analysts anticipate that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be paid a $0.2575 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.03 dividend on an annualized basis and a yield of 1.87%. SL Green Realty's dividend payout ratio is -735.71%.

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.