SL Green Realty Corp. (NYSE:SLG) Director Carol N. Brown Sells 5,118 Shares of Stock

SL Green Realty Corp. (NYSE:SLGGet Free Report) Director Carol N. Brown sold 5,118 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $44.37, for a total value of $227,085.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

SL Green Realty Stock Performance

Shares of SL Green Realty stock opened at $45.52 on Tuesday. SL Green Realty Corp. has a 52 week low of $19.06 and a 52 week high of $50.11. The business’s fifty day simple moving average is $45.05 and its 200-day simple moving average is $38.79. The firm has a market cap of $2.93 billion, a PE ratio of -5.01, a price-to-earnings-growth ratio of 1.48 and a beta of 1.69. The company has a quick ratio of 2.17, a current ratio of 2.23 and a debt-to-equity ratio of 0.93.

SL Green Realty Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, January 30th. SL Green Realty’s payout ratio is -33.00%.

Hedge Funds Weigh In On SL Green Realty

Several hedge funds have recently bought and sold shares of SLG. Deutsche Bank AG lifted its stake in SL Green Realty by 2,563.6% during the 3rd quarter. Deutsche Bank AG now owns 1,999,279 shares of the real estate investment trust’s stock worth $74,573,000 after acquiring an additional 1,924,221 shares in the last quarter. Wellington Management Group LLP purchased a new stake in SL Green Realty during the 3rd quarter worth about $38,666,000. BlackRock Inc. increased its holdings in SL Green Realty by 9.6% during the 1st quarter. BlackRock Inc. now owns 11,246,072 shares of the real estate investment trust’s stock worth $264,508,000 after purchasing an additional 988,677 shares during the period. Norges Bank purchased a new stake in SL Green Realty during the 4th quarter worth about $24,417,000. Finally, Balyasny Asset Management L.P. increased its holdings in SL Green Realty by 111.3% during the 1st quarter. Balyasny Asset Management L.P. now owns 1,139,857 shares of the real estate investment trust’s stock worth $26,809,000 after purchasing an additional 600,284 shares during the period. Institutional investors and hedge funds own 82.40% of the company’s stock.

Analysts Set New Price Targets

SLG has been the subject of a number of recent analyst reports. Piper Sandler boosted their price objective on SL Green Realty from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. BMO Capital Markets boosted their price objective on SL Green Realty from $34.00 to $44.00 and gave the company a “market perform” rating in a research report on Tuesday, December 5th. Barclays boosted their price target on SL Green Realty from $26.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, December 7th. Deutsche Bank Aktiengesellschaft began coverage on SL Green Realty in a research report on Tuesday, January 30th. They set a “hold” rating and a $50.00 price target for the company. Finally, StockNews.com upgraded SL Green Realty to a “sell” rating in a research report on Saturday, February 3rd. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SL Green Realty currently has an average rating of “Hold” and an average price target of $38.31.

Check Out Our Latest Analysis on SLG

About SL Green Realty

(Get Free Report)

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.

Further Reading

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