Fox Run Management L.L.C. Buys 10,081 Shares of SL Green Realty Corp. (NYSE:SLG)

Fox Run Management L.L.C. raised its stake in SL Green Realty Corp. (NYSE:SLG) by 70.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,296 shares of the real estate investment trust’s stock after purchasing an additional 10,081 shares during the period. Fox Run Management L.L.C.’s holdings in SL Green Realty were worth $1,650,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in SL Green Realty by 12.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust’s stock worth $96,990,000 after buying an additional 159,870 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of SL Green Realty during the 4th quarter worth approximately $337,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of SL Green Realty by 8.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust’s stock worth $5,187,000 after purchasing an additional 6,158 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of SL Green Realty by 10.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 103,711 shares of the real estate investment trust’s stock valued at $6,870,000 after purchasing an additional 9,753 shares during the period. Finally, FMR LLC raised its stake in shares of SL Green Realty by 69.1% in the third quarter. FMR LLC now owns 58,185 shares of the real estate investment trust’s stock valued at $4,050,000 after purchasing an additional 23,780 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Price Performance

Shares of SLG stock opened at $57.40 on Friday. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 717.55, a PEG ratio of 5.30 and a beta of 1.82. The firm’s 50 day moving average is $63.33 and its 200-day moving average is $69.03. SL Green Realty Corp. has a 1 year low of $47.22 and a 1 year high of $82.81.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, beating 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%. Sell-side analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.2575 per share. This is a boost from SL Green Realty’s previous quarterly dividend of $0.25. This represents a $1.03 annualized dividend and a yield of 1.79%. The ex-dividend date is Monday, March 31st. SL Green Realty’s payout ratio is currently 3,862.50%.

Analysts Set New Price Targets

SLG has been the topic of several analyst reports. Bank of America lowered their price target on shares of SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Jefferies Financial Group began coverage on shares of SL Green Realty in a research report on Monday, March 17th. They issued a “hold” rating and a $58.00 price target for the company. JPMorgan Chase & Co. raised SL Green Realty from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. Scotiabank cut their target price on 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, Truist Financial boosted their price target on SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $69.87.

Insider Buying and Selling at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $66.30, for a total value of $229,066.50. Following the transaction, the director now directly owns 2,052 shares in the company, valued at $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.08% of the company’s stock.

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.