Franklin Resources Inc. Acquires 17,437 Shares of SL Green Realty Corp. (NYSE:SLG)

Franklin Resources Inc. increased its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 196.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,314 shares of the real estate investment trust’s stock after purchasing an additional 17,437 shares during the quarter. Franklin Resources Inc.’s holdings in SL Green Realty were worth $1,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc raised its position in SL Green Realty by 17.7% in the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 157 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of SL Green Realty by 2.7% during the third quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust’s stock valued at $427,000 after purchasing an additional 161 shares during the last quarter. GAMMA Investing LLC lifted its position in SL Green Realty by 5.1% during the fourth quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust’s stock valued at $285,000 after purchasing an additional 203 shares during the period. Natixis Advisors LLC boosted its holdings in SL Green Realty by 1.3% in the fourth quarter. Natixis Advisors LLC now owns 21,820 shares of the real estate investment trust’s stock worth $1,482,000 after purchasing an additional 284 shares during the last quarter. Finally, Ieq Capital LLC grew its position in SL Green Realty by 9.3% in the 4th quarter. Ieq Capital LLC now owns 4,542 shares of the real estate investment trust’s stock worth $308,000 after purchasing an additional 387 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Trading Up 0.9 %

Shares of SLG stock opened at $49.69 on Monday. The stock has a fifty day simple moving average of $59.43 and a two-hundred day simple moving average of $67.37. SL Green Realty Corp. has a 52-week low of $45.15 and a 52-week high of $82.81. The firm has a market capitalization of $3.54 billion, a PE ratio of 621.06, a PEG ratio of 5.30 and a beta of 1.61. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, analysts predict that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.2575 per share. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.07%. SL Green Realty’s dividend payout ratio is currently 3,862.50%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Truist Financial raised their price target on SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, January 27th. Jefferies Financial Group assumed coverage on SL Green Realty in a research note on Monday, March 17th. They set a “hold” rating and a $58.00 price target for the company. Barclays lowered their price objective on shares of SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Scotiabank cut their target price on shares of SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Finally, Mizuho increased their price target on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $69.87.

Insider Activity 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 shares were sold at an average price of $66.30, for a total transaction of $229,066.50. Following the completion of the transaction, the director now owns 2,052 shares of the company’s stock, valued at $136,047.60. This represents a 62.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.08% of the stock is currently owned by corporate insiders.

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.