SL Green Realty Corp. (NYSE:SLG) Shares Purchased by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV boosted its holdings in SL Green Realty Corp. (NYSE:SLG) by 34.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,950 shares of the real estate investment trust’s stock after buying an additional 10,685 shares during the quarter. Tandem Capital Management Corp ADV owned approximately 0.07% of SL Green Realty worth $1,895,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Deutsche Bank AG raised its position in shares of SL Green Realty by 2,563.6% during the 3rd quarter. Deutsche Bank AG now owns 1,999,279 shares of the real estate investment trust’s stock worth $74,573,000 after acquiring an additional 1,924,221 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of SL Green Realty during the 3rd quarter worth approximately $38,666,000. Bank of New York Mellon Corp boosted its holdings in shares of SL Green Realty by 4.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,033,136 shares of the real estate investment trust’s stock valued at $38,536,000 after buying an additional 45,247 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of SL Green Realty by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 994,094 shares of the real estate investment trust’s stock valued at $37,080,000 after buying an additional 26,465 shares during the last quarter. Finally, LDR Capital Management LLC raised its stake in SL Green Realty by 1.7% during the 3rd quarter. LDR Capital Management LLC now owns 702,107 shares of the real estate investment trust’s stock worth $26,189,000 after acquiring an additional 11,500 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Price Performance

NYSE:SLG traded down $1.28 during mid-day trading on Thursday, hitting $50.88. 1,160,832 shares of the company’s stock traded hands, compared to its average volume of 1,307,811. SL Green Realty Corp. has a 1 year low of $20.51 and a 1 year high of $55.75. The company has a market cap of $3.35 billion, a PE ratio of -6.16, a price-to-earnings-growth ratio of 1.42 and a beta of 1.71. 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 firm’s 50 day simple moving average is $50.51 and its 200 day simple moving average is $43.65.

SL Green Realty Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date of this dividend is Monday, April 29th. SL Green Realty’s payout ratio is currently -36.32%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SLG shares. Barclays raised SL Green Realty from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $35.00 to $48.00 in a report on Wednesday, March 27th. Scotiabank lifted their target price on shares of SL Green Realty from $40.00 to $43.00 and gave the company a “sector underperform” rating in a report on Tuesday, April 2nd. Morgan Stanley raised their price objective on shares of 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. JPMorgan Chase & Co. upped their target price on shares of SL Green Realty from $43.00 to $44.00 and gave the company an “underweight” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft began coverage on SL Green Realty in a report on Tuesday, January 30th. They set a “hold” rating and a $50.00 price target on the stock. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $47.00.

Insider Buying and Selling at SL Green Realty

In other news, Director Betsy S. Atkins sold 9,894 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $47.25, for a total value of $467,491.50. Following the sale, the director now directly owns 6,886 shares in the company, valued at $325,363.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Betsy S. Atkins sold 9,894 shares of SL Green Realty stock in a transaction on Friday, January 26th. The stock was sold at an average price of $47.25, for a total value of $467,491.50. Following the completion of the sale, the director now owns 6,886 shares of the company’s stock, valued at $325,363.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carol N. Brown sold 5,118 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $44.37, for a total transaction of $227,085.66. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

About SL Green Realty

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.