SummitTX Capital L.P. acquired a new stake in SL Green Realty Corporation (NYSE:SLG – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 19,559 shares of the real estate investment trust’s stock, valued at approximately $723,000.
Other large investors also recently added to or reduced their stakes in the company. Triumph Capital Management purchased a new position in shares of SL Green Realty during the third quarter worth approximately $45,000. Davis Capital Management bought a new stake in shares of SL Green Realty during the first quarter valued at approximately $46,000. Fourth Dimension Wealth LLC boosted its holdings in shares of SL Green Realty by 45.5% in the fourth quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 500 shares during the period. Hantz Financial Services Inc. grew its stake in SL Green Realty by 30.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 378 shares in the last quarter. Finally, Leonteq Securities AG increased its holdings in SL Green Realty by 4,194.0% during the 1st quarter. Leonteq Securities AG now owns 2,147 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 2,097 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.
SL Green Realty Price Performance
Shares of SLG stock opened at $53.60 on Friday. The stock’s 50-day moving average is $49.84 and its 200 day moving average is $44.26. SL Green Realty Corporation has a 1-year low of $34.77 and a 1-year high of $66.29. The company has a debt-to-equity ratio of 1.12, a current ratio of 3.10 and a quick ratio of 3.03. The company has a market cap of $3.83 billion, a P/E ratio of -19.63 and a beta of 1.58.
SL Green Realty Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.6175 dividend. This represents a $2.47 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, June 30th. SL Green Realty’s dividend payout ratio (DPR) is presently -90.48%.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on SLG. Weiss Ratings upgraded SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Morgan Stanley set a $52.00 price objective on SL Green Realty and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Piper Sandler set a $79.00 target price on shares of SL Green Realty and gave the stock an “overweight” rating in a report on Friday, July 24th. Scotiabank reissued an “outperform” rating and set a $56.00 target price (up from $53.00) on shares of SL Green Realty in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company boosted their price target on shares of SL Green Realty from $40.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, SL Green Realty has an average rating of “Hold” and a consensus target price of $54.95.
View Our Latest Stock Report on SL Green Realty
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.
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