Game Plan Financial Advisors LLC Takes $149,000 Position in SL Green Realty Corp. (NYSE:SLG)

Game Plan Financial Advisors LLC bought a new stake in shares of SL Green Realty Corp. (NYSE:SLG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,200 shares of the real estate investment trust’s stock, valued at approximately $149,000.

Other hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC lifted its position in SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 272 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of SL Green Realty during the third quarter worth approximately $35,000. Friedenthal Financial purchased a new position in shares of SL Green Realty during the third quarter worth approximately $49,000. Blue Trust Inc. raised its stake in shares of SL Green Realty by 363.2% during the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 632 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of SL Green Realty by 17.7% during the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 157 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Stock Performance

Shares of SLG stock opened at $64.61 on Friday. SL Green Realty Corp. has a one year low of $43.69 and a one year high of $82.81. The company’s 50-day moving average is $67.23 and its 200 day moving average is $69.56. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 807.56, a price-to-earnings-growth ratio of 5.49 and a beta of 1.82. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 3.21.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. Sell-side analysts expect that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be paid a $0.2575 dividend. This represents a $3.09 annualized dividend and a dividend yield of 4.78%. The ex-dividend date is Friday, January 31st. SL Green Realty’s dividend payout ratio (DPR) is presently 3,862.50%.

Insider Transactions at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $66.30, for a total transaction of $229,066.50. Following the sale, the director now owns 2,052 shares in the company, valued at approximately $136,047.60. This trade represents a 62.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on SLG shares. Compass Point lifted their price target on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Piper Sandler reiterated an “overweight” rating and set a $90.00 price target (up from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Wells Fargo & Company lowered their price target on shares of SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. BMO Capital Markets reiterated an “outperform” rating and set a $87.00 price target (up from $72.00) on shares of SL Green Realty in a report on Monday, October 21st. Finally, Jefferies Financial Group lowered their price target on shares of SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, SL Green Realty has an average rating of “Hold” and an average price target of $71.07.

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.