SG Americas Securities LLC Buys 31,505 Shares of SL Green Realty Corporation $SLG

SG Americas Securities LLC raised its stake in SL Green Realty Corporation (NYSE:SLG) by 63.8% during the fourth quarter, HoldingsChannel reports. The fund owned 80,888 shares of the real estate investment trust’s stock after buying an additional 31,505 shares during the period. SG Americas Securities LLC’s holdings in SL Green Realty were worth $3,710,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of SL Green Realty in the 2nd quarter worth about $55,947,000. Hudson Bay Capital Management LP grew its position in SL Green Realty by 51.6% during the 3rd quarter. Hudson Bay Capital Management LP now owns 1,460,373 shares of the real estate investment trust’s stock valued at $87,345,000 after purchasing an additional 497,040 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in SL Green Realty by 663.4% during the 2nd quarter. Balyasny Asset Management L.P. now owns 513,556 shares of the real estate investment trust’s stock valued at $31,789,000 after purchasing an additional 446,283 shares in the last quarter. BROOKFIELD Corp ON bought a new stake in SL Green Realty during the 2nd quarter valued at about $18,695,000. Finally, American Century Companies Inc. purchased a new position in SL Green Realty in the second quarter worth about $12,841,000. 89.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SLG has been the topic of several analyst reports. The Goldman Sachs Group set a $37.00 target price on shares of SL Green Realty and gave the stock a “sell” rating in a research note on Friday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of SL Green Realty from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $45.00 to $44.00 in a report on Wednesday, March 18th. Scotiabank set a $52.00 price objective on SL Green Realty and gave the company a “sector outperform” rating in a research report on Friday, March 13th. Evercore set a $54.00 target price on SL Green Realty and gave the company an “outperform” rating in a research note on Monday, December 8th. Finally, Barclays reduced their target price on SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $51.45.

SL Green Realty Stock Performance

Shares of NYSE SLG opened at $36.05 on Friday. The firm’s 50-day moving average price is $39.61 and its 200-day moving average price is $46.81. SL Green Realty Corporation has a 52-week low of $34.77 and a 52-week high of $66.91. The company has a market cap of $2.57 billion, a PE ratio of -22.39 and a beta of 1.61. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 1.05.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. SL Green Realty had a negative net margin of 9.66% and a negative return on equity of 2.44%. The firm had revenue of $159.82 million during the quarter, compared to analyst estimates of $162.73 million. During the same period in the previous year, the business posted $1.81 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Tuesday, March 31st. SL Green Realty’s payout ratio is -153.42%.

SL Green Realty 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.