GAMMA Investing LLC Purchases New Holdings in SL Green Realty Corp. (NYSE:SLG)

GAMMA Investing LLC purchased a new stake in SL Green Realty Corp. (NYSE:SLG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,109 shares of the real estate investment trust’s stock, valued at approximately $140,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its holdings in SL Green Realty by 66.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 17,752 shares of the real estate investment trust’s stock worth $662,000 after buying an additional 7,086 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in SL Green Realty by 4.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,033,136 shares of the real estate investment trust’s stock worth $38,536,000 after buying an additional 45,247 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in SL Green Realty by 8.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,270 shares of the real estate investment trust’s stock worth $1,017,000 after buying an additional 2,064 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in SL Green Realty by 122.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 1,502 shares during the last quarter. Finally, Tandem Capital Management Corp ADV lifted its holdings in SL Green Realty by 156.3% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 31,265 shares of the real estate investment trust’s stock worth $1,166,000 after buying an additional 19,065 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Insider Activity

In other news, Director Carol N. Brown sold 5,118 shares of SL Green Realty stock in a transaction on Friday, February 9th. The stock was sold at an average price of $44.37, for a total transaction of $227,085.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on SLG shares. Evercore ISI increased their target price on SL Green Realty from $46.00 to $47.00 and gave the stock an “underperform” rating in a report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on SL Green Realty in a report on Tuesday, January 30th. They set a “hold” rating and a $50.00 target price on the stock. StockNews.com upgraded SL Green Realty to a “sell” rating in a research report on Saturday, February 3rd. Morgan Stanley increased their price target on SL Green Realty from $41.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. Finally, The Goldman Sachs Group increased their price target on SL Green Realty from $30.00 to $36.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, SL Green Realty currently has a consensus rating of “Hold” and a consensus target price of $47.00.

SL Green Realty Price Performance

SLG opened at $50.61 on Friday. SL Green Realty Corp. has a 12 month low of $20.51 and a 12 month high of $55.75. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.23 and a current ratio of 2.96. The stock’s 50 day moving average price is $50.58 and its 200 day moving average price is $43.83.

SL Green Realty Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend is Monday, April 29th. SL Green Realty’s dividend payout ratio (DPR) is presently -36.32%.

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.