12,244 Shares in SL Green Realty Corp. (NYSE:SLG) Acquired by Opinicus Capital Inc.

Opinicus Capital Inc. acquired a new position in shares of SL Green Realty Corp. (NYSE:SLG) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 12,244 shares of the real estate investment trust’s stock, valued at approximately $553,000.

Other large investors have also recently modified their holdings of the company. Phocas Financial Corp. bought a new position in shares of SL Green Realty during the 4th quarter worth approximately $3,425,000. Wellington Management Group LLP bought a new position in shares of SL Green Realty during the 3rd quarter worth approximately $38,666,000. Cyndeo Wealth Partners LLC bought a new position in shares of SL Green Realty during the 4th quarter worth approximately $4,593,000. Raymond James Financial Services Advisors Inc. purchased a new stake in SL Green Realty during the 4th quarter worth approximately $491,000. Finally, Charles Schwab Investment Management Inc. grew its position in SL Green Realty by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 994,094 shares of the real estate investment trust’s stock worth $37,080,000 after purchasing an additional 26,465 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Trading Down 0.5 %

Shares of NYSE SLG traded down $0.27 during mid-day trading on Friday, reaching $50.61. The company’s stock had a trading volume of 996,426 shares, compared to its average volume of 1,161,851. The stock has a 50-day moving average of $50.58 and a two-hundred day moving average of $43.76. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.23. SL Green Realty Corp. has a 1-year low of $20.51 and a 1-year high of $55.75.

SL Green Realty Cuts Dividend

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

Insider Activity at SL Green Realty

In related news, Director Carol N. Brown sold 5,118 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $44.37, for a total value of $227,085.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

SLG has been the subject of several analyst reports. StockNews.com upgraded shares of SL Green Realty to a “sell” rating in a research note on Saturday, February 3rd. Piper Sandler reiterated an “overweight” rating and issued a $58.00 target price on shares of SL Green Realty in a research note on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of SL Green Realty in a research note on Tuesday, January 30th. They issued a “hold” rating and a $50.00 target price for the company. JPMorgan Chase & Co. upped their price objective on shares of SL Green Realty from $43.00 to $44.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, Scotiabank upped their price objective on shares of SL Green Realty from $40.00 to $43.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, April 2nd. Six analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $47.00.

SL Green Realty Company 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.