Amundi Buys 27,212 Shares of SL Green Realty Corp. (NYSE:SLG)

Amundi increased its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 20.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 158,185 shares of the real estate investment trust’s stock after purchasing an additional 27,212 shares during the quarter. Amundi’s holdings in SL Green Realty were worth $10,209,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Edgestream Partners L.P. increased its position in shares of SL Green Realty by 127.5% during the 4th quarter. Edgestream Partners L.P. now owns 94,699 shares of the real estate investment trust’s stock valued at $6,432,000 after purchasing an additional 53,079 shares during the last quarter. Candriam S.C.A. bought a new position in SL Green Realty in the 4th quarter valued at $7,126,000. Raymond James Financial Inc. bought a new position in SL Green Realty in the 4th quarter valued at $1,275,000. Arizona State Retirement System grew its position in SL Green Realty by 3.2% in the 4th quarter. Arizona State Retirement System now owns 18,811 shares of the real estate investment trust’s stock valued at $1,278,000 after acquiring an additional 588 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in SL Green Realty in the 4th quarter valued at $7,705,000. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Trading Up 2.0 %

Shares of NYSE SLG opened at $56.67 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. The stock has a market capitalization of $4.04 billion, a P/E ratio of 708.40, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. SL Green Realty Corp. has a 1-year low of $47.22 and a 1-year high of $82.81. The business has a fifty day moving average price of $63.99 and a 200 day moving average price of $69.33.

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

SL Green Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $0.2575 per share. This represents a $3.09 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Friday, February 28th. SL Green Realty’s dividend payout ratio (DPR) is currently 3,862.50%.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of the sale, the director now directly owns 2,052 shares in the company, valued at approximately $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SLG shares. Scotiabank cut their price objective on SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Bank of America cut their price objective on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Jefferies Financial Group cut their price objective on SL Green Realty from $75.00 to $69.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Truist Financial increased their price target on SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised SL Green Realty from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $51.00 to $80.00 in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $71.00.

SL Green Realty 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.