Opinicus Capital Inc. Acquires Shares of 12,244 SL Green Realty Corp. (NYSE:SLG)

Opinicus Capital Inc. purchased a new position in SL Green Realty Corp. (NYSE:SLG) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 12,244 shares of the real estate investment trust’s stock, valued at approximately $553,000.

A number of other hedge funds have also recently made changes to their positions in SLG. Private Trust Co. NA bought a new stake in shares of SL Green Realty in the 4th quarter worth approximately $33,000. Financial Gravity Asset Management Inc. boosted its position in shares of SL Green Realty by 3,073.3% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 922 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of SL Green Realty in the 3rd quarter worth approximately $88,000. Allspring Global Investments Holdings LLC boosted its position in shares of SL Green Realty by 122.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 1,502 shares in the last quarter. Finally, Rosenberg Matthew Hamilton boosted its position in shares of SL Green Realty by 9.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 227 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

SL Green Realty Price Performance

Shares of NYSE:SLG traded down $0.27 during midday trading on Friday, hitting $50.61. The company had a trading volume of 996,426 shares, compared to its average volume of 1,161,851. The company has a current ratio of 2.96, a quick ratio of 2.23 and a debt-to-equity ratio of 1.01. SL Green Realty Corp. has a 12-month low of $20.51 and a 12-month high of $55.75. The company has a fifty day moving average of $50.58 and a two-hundred day moving average of $43.76.

SL Green Realty Cuts Dividend

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

Analysts Set New Price Targets

A number of analysts have recently commented on SLG shares. JPMorgan Chase & Co. boosted their price target on SL Green Realty from $43.00 to $44.00 and gave the stock an “underweight” rating in a research report on Thursday. BMO Capital Markets upgraded shares of SL Green Realty from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $56.00 to $58.00 in a report on Thursday, April 18th. Truist Financial lowered shares of SL Green Realty from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $44.00 to $47.00 in a report on Tuesday, January 16th. StockNews.com upgraded shares of SL Green Realty to a “sell” rating in a report on Saturday, February 3rd. Finally, The Goldman Sachs Group boosted their price objective on shares of SL Green Realty from $30.00 to $36.00 and gave the stock a “sell” rating in a report on Thursday, January 11th. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, SL Green Realty currently has an average rating of “Hold” and an average target price of $47.00.

Insider Transactions at SL Green Realty

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