New Age Alpha Advisors LLC Makes New $665,000 Investment in SL Green Realty Corp. (NYSE:SLG)

New Age Alpha Advisors LLC bought a new position in SL Green Realty Corp. (NYSE:SLG) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 9,790 shares of the real estate investment trust’s stock, valued at approximately $665,000.

Other institutional investors have also made changes to their positions in the company. Point72 DIFC Ltd acquired a new position in SL Green Realty in the 3rd quarter worth approximately $35,000. Jones Financial Companies Lllp acquired a new stake in shares of SL Green Realty in the fourth quarter worth $39,000. Versant Capital Management Inc grew its holdings 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 valued at $71,000 after buying an additional 157 shares in the last quarter. Blue Trust Inc. raised its position in SL Green Realty by 106.3% during the fourth quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 857 shares during the period. Finally, Game Plan Financial Advisors LLC purchased a new stake in SL Green Realty in the 4th quarter worth about $149,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

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 stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the sale, the director now owns 2,052 shares of the company’s stock, valued at $136,047.60. This trade represents a 62.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.08% of the stock is currently owned by corporate insiders.

SL Green Realty Stock Up 0.4 %

SLG opened at $57.78 on Tuesday. The firm has a market cap of $4.12 billion, a P/E ratio of 722.24, a price-to-earnings-growth ratio of 5.30 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 2.89. The business has a 50 day moving average price of $62.59 and a 200 day moving average price of $68.83. SL Green Realty Corp. has a twelve month low of $47.22 and a twelve month high of $82.81.

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 net margin of 2.48% and a negative return on equity of 0.10%. Research analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.2575 dividend. This is an increase from SL Green Realty’s previous quarterly dividend of $0.25. This represents a $1.03 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, March 31st. SL Green Realty’s dividend payout ratio (DPR) is currently 3,862.50%.

Analysts Set New Price Targets

Several equities analysts have weighed in on SLG shares. Jefferies Financial Group started coverage on SL Green Realty in a research note on Monday, March 17th. They set a “hold” rating and a $58.00 target price on the stock. Morgan Stanley increased their target price on shares of 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. 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 on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $51.00 to $80.00 in a report on Tuesday, December 10th. Finally, Truist Financial boosted their target price on SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $69.87.

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.