Allianz Asset Management GmbH Increases Holdings in SL Green Realty Corp. (NYSE:SLG)

Allianz Asset Management GmbH boosted its holdings in SL Green Realty Corp. (NYSE:SLGFree Report) by 148.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 259,027 shares of the real estate investment trust’s stock after purchasing an additional 154,578 shares during the period. Allianz Asset Management GmbH owned approximately 0.40% of SL Green Realty worth $11,700,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SLG. Private Trust Co. NA purchased a new position in SL Green Realty in the 4th quarter worth approximately $33,000. Financial Gravity Asset Management Inc. grew its holdings in SL Green Realty by 3,073.3% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 922 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in SL Green Realty in the 3rd quarter worth $88,000. Rosenberg Matthew Hamilton boosted its holdings in shares of SL Green Realty by 9.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 227 shares during the period. Finally, GAMMA Investing LLC bought a new stake in shares of SL Green Realty in the fourth quarter worth about $140,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $58.00 price target on shares of SL Green Realty in a report on Tuesday, March 26th. BMO Capital Markets raised shares of SL Green Realty from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $56.00 to $58.00 in a research note on Thursday, April 18th. Scotiabank lifted their price objective on SL Green Realty from $40.00 to $43.00 and gave the company a “sector underperform” rating in a research report on Tuesday, April 2nd. Barclays upgraded SL Green Realty from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $35.00 to $48.00 in a report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. upped their price target on SL Green Realty from $43.00 to $44.00 and gave the stock an “underweight” rating in a research note on Thursday, April 25th. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $47.00.

Check Out Our Latest Stock Analysis on SLG

SL Green Realty Stock Performance

SLG opened at $52.97 on Monday. The firm has a market cap of $3.49 billion, a P/E ratio of -6.41, a PEG ratio of 0.98 and a beta of 1.77. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.96. The company has a 50 day simple moving average of $51.74 and a two-hundred day simple moving average of $47.31. SL Green Realty Corp. has a 1-year low of $21.85 and a 1-year high of $57.33.

SL Green Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a dividend yield of 5.66%. The ex-dividend date of this dividend is Thursday, May 30th. SL Green Realty’s dividend payout ratio is currently -36.32%.

SL Green Realty Profile

(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

Institutional Ownership by Quarter for SL Green Realty (NYSE:SLG)

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