Norges Bank Takes $44.09 Million Position in SL Green Realty Corporation $SLG

Norges Bank purchased a new stake in shares of SL Green Realty Corporation (NYSE:SLG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 961,272 shares of the real estate investment trust’s stock, valued at approximately $44,094,000. Norges Bank owned about 1.35% of SL Green Realty at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Triumph Capital Management purchased a new stake in shares of SL Green Realty during the 3rd quarter valued at approximately $45,000. State of Wyoming purchased a new stake in shares of SL Green Realty during the 3rd quarter valued at approximately $68,000. Hantz Financial Services Inc. lifted its stake in shares of SL Green Realty by 252.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,235 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 885 shares in the last quarter. Fourth Dimension Wealth LLC lifted its stake in shares of SL Green Realty by 45.5% during 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 in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in SL Green Realty by 107.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,644 shares of the real estate investment trust’s stock worth $98,000 after purchasing an additional 853 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Zacks Research raised SL Green Realty from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 25th. Evercore reissued an “outperform” rating and set a $50.00 price objective on shares of SL Green Realty in a report on Monday. Scotiabank reissued an “outperform” rating on shares of SL Green Realty in a report on Thursday, May 21st. Piper Sandler dropped their price objective on SL Green Realty from $60.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Finally, Barclays lowered their target price on shares of SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 26th. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, SL Green Realty presently has a consensus rating of “Hold” and a consensus price target of $50.90.

SL Green Realty Stock Performance

SL Green Realty stock opened at $48.97 on Tuesday. The firm’s fifty day moving average price is $42.14 and its 200-day moving average price is $42.76. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.03 and a current ratio of 3.03. The stock has a market cap of $3.50 billion, a P/E ratio of -19.51 and a beta of 1.61. SL Green Realty Corporation has a fifty-two week low of $34.77 and a fifty-two week high of $66.91.

SL Green Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a dividend of $0.6175 per share. This represents a $2.47 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Tuesday, March 31st. SL Green Realty’s dividend payout ratio (DPR) is currently -98.41%.

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.