The Manufacturers Life Insurance Company Acquires Shares of 40,626 SL Green Realty Corporation $SLG

The Manufacturers Life Insurance Company acquired a new stake in SL Green Realty Corporation (NYSE:SLG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 40,626 shares of the real estate investment trust’s stock, valued at approximately $2,103,000. The Manufacturers Life Insurance Company owned about 0.06% of SL Green Realty as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Triumph Capital Management bought a new stake in SL Green Realty during the third quarter valued at $45,000. Davis Capital Management bought a new position in shares of SL Green Realty in the 1st quarter worth about $46,000. Global Retirement Partners LLC bought a new position in shares of SL Green Realty in the 2nd quarter worth about $53,000. Fourth Dimension Wealth LLC boosted its holdings in shares of SL Green Realty by 45.5% in the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 500 shares during the period. Finally, Hantz Financial Services Inc. grew its position in shares of SL Green Realty by 30.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 378 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

SLG has been the topic of a number of research reports. Barclays set a $52.00 price target on SL Green Realty and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. UBS Group set a $60.00 price objective on SL Green Realty in a research note on Monday, July 27th. Scotiabank increased their target price on SL Green Realty from $56.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, August 5th. Truist Financial set a $57.00 target price on SL Green Realty and gave the company a “hold” rating in a research note on Monday, August 24th. Finally, Evercore downgraded shares of SL Green Realty from an “outperform” rating to an “in-line” rating and set a $56.00 price target for the company. in a report on Monday, July 6th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, SL Green Realty has a consensus rating of “Hold” and a consensus price target of $56.83.

SL Green Realty Price Performance

NYSE:SLG opened at $55.24 on Thursday. The company has a quick ratio of 3.10, a current ratio of 3.10 and a debt-to-equity ratio of 1.05. The business’s 50-day moving average price is $53.90 and its 200 day moving average price is $46.20. SL Green Realty Corporation has a 52-week low of $34.77 and a 52-week high of $66.29. The firm has a market cap of $3.93 billion, a P/E ratio of -20.24, a PEG ratio of 2.36 and a beta of 1.60.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.21. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.37%. The company had revenue of $264.00 million during the quarter, compared to the consensus estimate of $179.01 million. During the same period in the prior year, the company earned $1.63 EPS. SL Green Realty’s revenue was up 16.5% on a year-over-year basis. As a group, sell-side analysts predict that SL Green Realty Corporation will post 5.53 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.6175 per share. This represents a $2.47 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Tuesday, June 30th. SL Green Realty’s dividend payout ratio (DPR) is presently -90.48%.

Insiders Place Their Bets

In other SL Green Realty news, insider Harrison Sitomer sold 23,113 shares of SL Green Realty stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $57.71, for a total value of $1,333,851.23. Following the transaction, the insider owned 109,468 shares in the company, valued at approximately $6,317,398.28. The trade was a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.94% of the company’s stock.

SL Green Realty Company Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.