Carson Advisory Inc. Trims Stake in SL Green Realty Corp. (NYSE:SLG)

Carson Advisory Inc. lowered its position in SL Green Realty Corp. (NYSE:SLG) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,790 shares of the real estate investment trust’s stock after selling 844 shares during the quarter. SL Green Realty comprises about 1.0% of Carson Advisory Inc.’s portfolio, making the stock its 27th largest position. Carson Advisory Inc.’s holdings in SL Green Realty were worth $1,255,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rosenberg Matthew Hamilton boosted its position in 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 valued at $117,000 after buying an additional 227 shares during the period. Sequoia Financial Advisors LLC boosted its position in SL Green Realty by 1.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 13,739 shares of the real estate investment trust’s stock valued at $621,000 after buying an additional 255 shares during the period. Arden Trust Co boosted its position in SL Green Realty by 1.5% in the 4th quarter. Arden Trust Co now owns 23,935 shares of the real estate investment trust’s stock valued at $1,081,000 after buying an additional 356 shares during the period. Gotham Asset Management LLC boosted its position in SL Green Realty by 3.6% in the 3rd quarter. Gotham Asset Management LLC now owns 10,526 shares of the real estate investment trust’s stock valued at $393,000 after buying an additional 362 shares during the period. Finally, Lido Advisors LLC boosted its holdings in shares of SL Green Realty by 1.1% in the 3rd quarter. Lido Advisors LLC now owns 36,646 shares of the real estate investment trust’s stock valued at $1,367,000 after acquiring an additional 405 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Up 4.9 %

NYSE SLG traded up $2.44 during trading on Thursday, reaching $52.11. 1,188,751 shares of the company’s stock were exchanged, compared to its average volume of 1,284,590. SL Green Realty Corp. has a fifty-two week low of $20.51 and a fifty-two week high of $55.75. The company’s fifty day simple moving average is $50.81 and its 200-day simple moving average is $44.15. The company has a current ratio of 2.96, a quick ratio of 2.23 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $3.43 billion, a PE ratio of -6.14, a P/E/G ratio of 1.35 and a beta of 1.72.

SL Green Realty Cuts Dividend

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

Insider Transactions at SL Green Realty

In other news, Director Carol N. Brown sold 5,118 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $44.37, for a total transaction of $227,085.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SLG shares. Piper Sandler reaffirmed an “overweight” rating and set a $58.00 price objective on shares of SL Green Realty in a report on Tuesday, March 26th. The Goldman Sachs Group raised 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. Deutsche Bank Aktiengesellschaft started coverage on shares of SL Green Realty in a report on Tuesday, January 30th. They issued a “hold” rating and a $50.00 target price on the stock. StockNews.com raised shares of SL Green Realty to a “sell” rating in a research note on Saturday, February 3rd. Finally, Barclays upgraded shares of SL Green Realty from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $35.00 to $48.00 in a research report on Wednesday, March 27th. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.00.

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.