Nan Fung Trinity HK Ltd. Buys New Shares in SL Green Realty Corp. (NYSE:SLG)

Nan Fung Trinity HK Ltd. bought a new stake in SL Green Realty Corp. (NYSE:SLG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 48,500 shares of the real estate investment trust’s stock, valued at approximately $2,191,000. SL Green Realty comprises 0.5% of Nan Fung Trinity HK Ltd.’s portfolio, making the stock its 21st biggest position. Nan Fung Trinity HK Ltd. owned approximately 0.08% of SL Green Realty as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Deutsche Bank AG increased its position in SL Green Realty by 2,563.6% during the third quarter. Deutsche Bank AG now owns 1,999,279 shares of the real estate investment trust’s stock worth $74,573,000 after buying an additional 1,924,221 shares during the last quarter. Wellington Management Group LLP acquired a new position in SL Green Realty during the third quarter worth approximately $38,666,000. Adage Capital Partners GP L.L.C. increased its position in SL Green Realty by 65.9% during the third quarter. Adage Capital Partners GP L.L.C. now owns 340,131 shares of the real estate investment trust’s stock worth $12,687,000 after buying an additional 135,131 shares during the last quarter. Moody Aldrich Partners LLC acquired a new position in SL Green Realty during the third quarter worth approximately $5,008,000. Finally, Cyndeo Wealth Partners LLC acquired a new position in SL Green Realty during the fourth quarter worth approximately $4,593,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SLG shares. Scotiabank upped their target price on SL Green Realty from $40.00 to $43.00 and gave the company a “sector underperform” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group upped their target price on SL Green Realty from $30.00 to $36.00 and gave the company a “sell” rating in a research report on Thursday, January 11th. Deutsche Bank Aktiengesellschaft started coverage on SL Green Realty in a research report on Tuesday, January 30th. They issued a “hold” rating and a $50.00 target price on the stock. Morgan Stanley upped their target price on SL Green Realty from $41.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, March 28th. Finally, StockNews.com raised SL Green Realty to a “sell” rating in a research report on Wednesday. Six research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.00.

Insiders Place Their Bets

In other news, Director Carol N. Brown sold 5,118 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.08% of the company’s stock.

SL Green Realty Price Performance

NYSE SLG traded up $1.30 on Thursday, hitting $52.23. 295,250 shares of the company’s stock were exchanged, compared to its average volume of 1,250,453. The stock has a 50-day moving average of $51.32 and a 200-day moving average of $44.76. 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 52 week low of $20.51 and a 52 week high of $55.75. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of -6.17, a P/E/G ratio of 1.39 and a beta of 1.72.

SL Green Realty Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a yield of 5.74%. The ex-dividend date is Monday, April 29th. SL Green Realty’s payout ratio is presently -36.32%.

SL Green Realty 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.