Allianz Asset Management GmbH Has $36.28 Million Stock Position in SL Green Realty Corp. (NYSE:SLG)

Allianz Asset Management GmbH grew its stake in SL Green Realty Corp. (NYSE:SLG) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 534,159 shares of the real estate investment trust’s stock after buying an additional 9,299 shares during the quarter. Allianz Asset Management GmbH’s holdings in SL Green Realty were worth $36,280,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SLG. Sumitomo Mitsui Trust Group Inc. boosted its stake in SL Green Realty by 8.8% in 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 purchasing an additional 6,158 shares during the period. FMR LLC boosted its position in shares of SL Green Realty by 69.1% during the third quarter. FMR LLC now owns 58,185 shares of the real estate investment trust’s stock worth $4,050,000 after buying an additional 23,780 shares during the period. Asset Management One Co. Ltd. grew its holdings in shares of SL Green Realty by 10.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust’s stock worth $6,870,000 after buying an additional 9,753 shares in the last quarter. Weiss Asset Management LP acquired a new stake in SL Green Realty in the 3rd quarter valued at approximately $771,000. Finally, Citigroup Inc. lifted its stake in SL Green Realty by 54.6% in the 3rd quarter. Citigroup Inc. now owns 85,587 shares of the real estate investment trust’s stock valued at $5,958,000 after acquiring an additional 30,220 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Bank of America decreased 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 research note on Monday, January 27th. Wells Fargo & Company decreased their target price on shares of SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Compass Point boosted 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 report on Wednesday, December 11th. Jefferies Financial Group decreased their price objective on SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Finally, Truist Financial upped their target price on SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, SL Green Realty has a consensus rating of “Hold” and a consensus price target of $71.07.

SL Green Realty Stock Performance

Shares of NYSE SLG opened at $62.72 on Monday. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $4.14 billion, a P/E ratio of 784.05, a P/E/G ratio of 5.30 and a beta of 1.82. SL Green Realty Corp. has a 12 month low of $45.87 and a 12 month high of $82.81. The stock has a 50 day moving average of $66.26 and a 200-day moving average of $69.60.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, topping 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%. As a group, equities research analysts predict that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $0.2575 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.09 dividend on an annualized basis and a yield of 4.93%. SL Green Realty’s dividend payout ratio (DPR) is currently 3,862.50%.

Insider Buying and Selling at SL Green Realty

In other news, Director Craig M. Hatkoff sold 3,455 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.30, for a total transaction of $229,066.50. Following the completion of the sale, the director now owns 2,052 shares in the company, valued at $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.08% of the company’s stock.

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.