Carson Advisory Inc. Has $1.26 Million Stake in SL Green Realty Corp. (NYSE:SLG)

Carson Advisory Inc. cut its stake in SL Green Realty Corp. (NYSE:SLG) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,790 shares of the real estate investment trust’s stock after selling 844 shares during the period. SL Green Realty makes up about 1.0% of Carson Advisory Inc.’s portfolio, making the stock its 27th biggest holding. Carson Advisory Inc.’s holdings in SL Green Realty were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Private Trust Co. NA bought a new stake in SL Green Realty during the 4th quarter worth approximately $33,000. Financial Gravity Asset Management Inc. lifted its holdings in shares of SL Green Realty by 3,073.3% in the third quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 922 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of SL Green Realty during the third quarter worth approximately $88,000. Rosenberg Matthew Hamilton raised its stake in shares of SL Green Realty by 9.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock worth $117,000 after acquiring an additional 227 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of SL Green Realty by 122.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 1,502 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SLG. Truist Financial cut shares of SL Green Realty from a “buy” rating to a “hold” rating and raised their target price for the stock from $44.00 to $47.00 in a report on Tuesday, January 16th. Scotiabank lifted their price target 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. Barclays raised SL Green Realty from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $35.00 to $48.00 in a research report on Wednesday, March 27th. StockNews.com raised SL Green Realty to a “sell” rating in a research report on Saturday, February 3rd. Finally, Evercore ISI lifted their price target on SL Green Realty from $46.00 to $47.00 and gave the stock an “underperform” rating in a research report on Monday, April 22nd. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $47.00.

SL Green Realty Stock Performance

Shares of SL Green Realty stock traded up $2.44 during trading hours on Thursday, reaching $52.11. 1,188,751 shares of the stock traded hands, compared to its average volume of 1,284,590. The company has a 50 day moving average price of $50.81 and a 200 day moving average price of $44.15. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of -6.14, a P/E/G ratio of 1.35 and a beta of 1.72. SL Green Realty Corp. has a one year low of $20.51 and a one year high of $55.75. The company has a quick ratio of 2.23, a current ratio of 2.96 and a debt-to-equity ratio of 1.01.

SL Green Realty Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.76%. SL Green Realty’s dividend payout ratio (DPR) is presently -36.32%.

Insider Activity at SL Green Realty

In related news, Director Carol N. Brown sold 5,118 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.08% of the stock is currently owned by corporate insiders.

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.