SL Green Realty Corporation (NYSE:SLG) Declares Quarterly Dividend of $0.62

SL Green Realty Corporation (NYSE:SLG) declared a quarterly dividend on Wednesday, June 17th. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.6175 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Tuesday, June 30th.

SL Green Realty has decreased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. SL Green Realty has a payout ratio of -254.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect SL Green Realty to earn $4.84 per share next year, which means the company should continue to be able to cover its $2.47 annual dividend with an expected future payout ratio of 51.0%.

SL Green Realty Stock Performance

Shares of SL Green Realty stock opened at $48.88 on Thursday. SL Green Realty has a 12 month low of $34.77 and a 12 month high of $66.29. The firm has a market capitalization of $3.49 billion, a P/E ratio of -19.47 and a beta of 1.61. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 1.18. The business has a fifty day simple moving average of $44.19 and a two-hundred day simple moving average of $43.03.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SLG. JPMorgan Chase & Co. increased its position in shares of SL Green Realty by 12.7% during the third quarter. JPMorgan Chase & Co. now owns 727,906 shares of the real estate investment trust’s stock valued at $43,536,000 after acquiring an additional 81,910 shares in the last quarter. Picton Mahoney Asset Management lifted its position in SL Green Realty by 218.2% in the 3rd quarter. Picton Mahoney Asset Management now owns 239,012 shares of the real estate investment trust’s stock valued at $14,296,000 after acquiring an additional 163,903 shares in the last quarter. Aberdeen Group plc boosted its stake in SL Green Realty by 95.8% during the 3rd quarter. Aberdeen Group plc now owns 288,709 shares of the real estate investment trust’s stock valued at $17,302,000 after purchasing an additional 141,263 shares during the last quarter. SG Americas Securities LLC boosted its stake in SL Green Realty by 63.8% during the 4th quarter. SG Americas Securities LLC now owns 80,888 shares of the real estate investment trust’s stock valued at $3,710,000 after purchasing an additional 31,505 shares during the last quarter. Finally, Levin Capital Strategies L.P. bought a new stake in shares of SL Green Realty in the 4th quarter worth $3,588,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

About SL Green Realty

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.