Sequoia Financial Advisors LLC Buys 255 Shares of SL Green Realty Corp. (NYSE:SLG)

Sequoia Financial Advisors LLC lifted its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,739 shares of the real estate investment trust’s stock after acquiring an additional 255 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in SL Green Realty were worth $621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of SL Green Realty by 2.8% during the second quarter. BlackRock Inc. now owns 11,561,366 shares of the real estate investment trust’s stock worth $347,419,000 after acquiring an additional 315,294 shares during the last quarter. Vanguard Group Inc. increased its holdings in SL Green Realty by 0.3% in the third quarter. Vanguard Group Inc. now owns 9,363,094 shares of the real estate investment trust’s stock worth $376,022,000 after purchasing an additional 32,617 shares in the last quarter. State Street Corp increased its holdings in SL Green Realty by 10.2% in the second quarter. State Street Corp now owns 4,372,816 shares of the real estate investment trust’s stock worth $132,562,000 after purchasing an additional 403,257 shares in the last quarter. Deutsche Bank AG increased its holdings in SL Green Realty by 2,563.6% in the third quarter. Deutsche Bank AG now owns 1,999,279 shares of the real estate investment trust’s stock worth $74,573,000 after purchasing an additional 1,924,221 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in SL Green Realty by 39.1% in the second quarter. Geode Capital Management LLC now owns 1,424,518 shares of the real estate investment trust’s stock worth $42,807,000 after purchasing an additional 400,373 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLG. StockNews.com upgraded SL Green Realty to a “sell” rating in a report on Saturday, February 3rd. Barclays raised SL Green Realty from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $35.00 to $48.00 in a research note on Wednesday, March 27th. TheStreet raised SL Green Realty from a “d+” rating to a “c-” rating in a research note on Wednesday, January 10th. Scotiabank raised their price objective on SL Green Realty from $40.00 to $43.00 and gave the company a “sector underperform” rating in a research note on Tuesday, April 2nd. Finally, The Goldman Sachs Group raised 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. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.83.

SL Green Realty Stock Down 2.8 %

Shares of NYSE:SLG opened at $48.31 on Wednesday. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of -5.31, a PEG ratio of 1.72 and a beta of 1.71. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.93. SL Green Realty Corp. has a 12-month low of $20.51 and a 12-month high of $55.75. The business’s 50 day moving average is $49.62 and its 200 day moving average is $43.00.

SL Green Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.00 annualized dividend and a yield of 6.21%. SL Green Realty’s dividend payout ratio is currently -33.00%.

Insiders Place Their Bets

In other SL Green Realty news, Director Carol N. Brown sold 5,118 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $44.37, for a total value of $227,085.66. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other SL Green Realty news, Director Betsy S. Atkins sold 9,894 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $47.25, for a total value of $467,491.50. Following the sale, the director now directly owns 6,886 shares in the company, valued at $325,363.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carol N. Brown sold 5,118 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $44.37, for a total value of $227,085.66. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

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.