Mitsubishi UFJ Asset Management Co. Ltd. Grows Holdings in SL Green Realty Corp. (NYSE:SLG)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in SL Green Realty Corp. (NYSE:SLG) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,915 shares of the real estate investment trust’s stock after buying an additional 5,037 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of SL Green Realty worth $3,194,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of SLG. Versant Capital Management Inc increased its position 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 acquiring an additional 157 shares during the last quarter. MML Investors Services LLC raised its stake in shares of SL Green Realty by 2.7% during the 3rd quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust’s stock worth $427,000 after purchasing an additional 161 shares during the period. GAMMA Investing LLC boosted its holdings in shares of SL Green Realty by 5.1% in the 4th quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust’s stock worth $285,000 after buying an additional 203 shares during the last quarter. Natixis Advisors LLC grew its position in SL Green Realty by 1.3% during the fourth quarter. Natixis Advisors LLC now owns 21,820 shares of the real estate investment trust’s stock valued at $1,482,000 after buying an additional 284 shares during the period. Finally, Ieq Capital LLC increased its holdings in SL Green Realty by 9.3% during the fourth quarter. Ieq Capital LLC now owns 4,542 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 387 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of SL Green Realty from an “underweight” rating to a “neutral” rating and increased their target price for the company from $51.00 to $80.00 in a research report on Tuesday, December 10th. Wells Fargo & Company reduced their price objective on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Bank of America lowered their target price on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Mizuho increased their price target on SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, Morgan Stanley boosted their price objective on SL Green Realty from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $69.87.

Insider Transactions at SL Green Realty

In other 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 transaction of $229,066.50. Following the transaction, the director now directly owns 2,052 shares in the company, valued at approximately $136,047.60. This represents a 62.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.08% of the company’s stock.

SL Green Realty Trading Up 0.5 %

SL Green Realty stock opened at $57.96 on Wednesday. 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 Corp. has a fifty-two week low of $47.22 and a fifty-two week high of $82.81. The stock has a market cap of $4.13 billion, a P/E ratio of 724.55, a PEG ratio of 5.30 and a beta of 1.82. The firm’s fifty day moving average price is $62.41 and its 200-day moving average price is $68.75.

SL Green Realty (NYSE:SLG) last announced its earnings results 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 forecast that SL Green Realty Corp. will post 5.43 earnings per share 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. Shareholders of record on Monday, March 31st will be given a dividend of $0.2575 per share. The ex-dividend date is Monday, March 31st. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.25. This represents a $1.03 annualized dividend and a yield of 1.78%. SL Green Realty’s payout ratio is presently 3,862.50%.

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.