OVERSEA CHINESE BANKING Corp Ltd Purchases New Position in SL Green Realty Corporation $SLG

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in SL Green Realty Corporation (NYSE:SLG) during the second quarter, HoldingsChannel.com reports. The firm purchased 36,858 shares of the real estate investment trust’s stock, valued at approximately $1,908,000.

Several other large investors have also recently added to or reduced their stakes in SLG. Meeder Advisory Services Inc. acquired a new stake in shares of SL Green Realty during the second quarter worth approximately $204,000. BlackRock Inc. acquired a new position in shares of SL Green Realty in the 2nd quarter worth approximately $706,881,000. Deutsche Bank AG acquired a new position in shares of SL Green Realty in the 2nd quarter worth approximately $58,202,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in SL Green Realty during the 2nd quarter worth approximately $3,186,000. Finally, Global Retirement Partners LLC acquired a new stake in SL Green Realty during the 2nd quarter valued at $53,000. 89.96% of the stock is owned by institutional investors.

SL Green Realty Trading Up 1.1%

SLG stock opened at $58.30 on Friday. The company has a quick ratio of 3.10, a current ratio of 3.10 and a debt-to-equity ratio of 1.05. SL Green Realty Corporation has a twelve month low of $34.77 and a twelve month high of $66.29. The company has a market cap of $4.15 billion, a P/E ratio of -21.36, a PEG ratio of 2.53 and a beta of 1.58. The business has a fifty day moving average of $52.63 and a 200-day moving average of $45.24.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.21. The business had revenue of $264.00 million for the quarter, compared to analysts’ expectations of $179.01 million. SL Green Realty had a negative return on equity of 4.37% and a negative net margin of 16.92%.The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.63 earnings per share. As a group, equities research analysts expect that SL Green Realty Corporation will post 5.44 EPS for the current year.

SL Green Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.6175 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.47 dividend on an annualized basis and a yield of 4.2%. SL Green Realty’s dividend payout ratio is presently -90.48%.

Analyst Upgrades and Downgrades

SLG has been the topic of a number of recent analyst reports. Weiss Ratings raised SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Piper Sandler set a $79.00 price target on SL Green Realty and gave the company an “overweight” rating in a report on Friday, July 24th. UBS Group set a $60.00 price target on shares of SL Green Realty in a research report on Monday, July 27th. Barclays set a $52.00 target price on shares of SL Green Realty and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Finally, Scotiabank upped their target price on shares of SL Green Realty from $56.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, SL Green Realty presently has an average rating of “Hold” and a consensus target price of $55.15.

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.