Quantbot Technologies LP acquired a new stake in SL Green Realty Corporation (NYSE:SLG – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,393 shares of the real estate investment trust’s stock, valued at approximately $590,000.
Other large investors also recently bought and sold shares of the company. Levin Capital Strategies L.P. acquired a new position in SL Green Realty during the fourth quarter worth $3,588,000. Hosking Partners LLP lifted its holdings in SL Green Realty by 18.5% in the fourth quarter. Hosking Partners LLP now owns 290,166 shares of the real estate investment trust’s stock valued at $13,310,000 after acquiring an additional 45,337 shares during the period. Royal Bank of Canada boosted its position in shares of SL Green Realty by 903.3% during the 1st quarter. Royal Bank of Canada now owns 142,614 shares of the real estate investment trust’s stock worth $5,268,000 after purchasing an additional 128,400 shares in the last quarter. Nan Fung Trinity HK Ltd. purchased a new stake in shares of SL Green Realty during the 4th quarter worth $6,230,000. Finally, Bank of America Corp DE grew its stake in shares of SL Green Realty by 226.6% during the 1st quarter. Bank of America Corp DE now owns 744,053 shares of the real estate investment trust’s stock worth $27,485,000 after purchasing an additional 516,242 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.
SL Green Realty Price Performance
Shares of NYSE:SLG opened at $57.87 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.10 and a current ratio of 3.10. The business’s fifty day moving average price is $53.43 and its two-hundred day moving average price is $45.79. The stock has a market cap of $4.12 billion, a PE ratio of -21.20, a price-to-earnings-growth ratio of 2.58 and a beta of 1.58. SL Green Realty Corporation has a one year low of $34.77 and a one year high of $66.29.
SL Green Realty Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Tuesday, June 30th. SL Green Realty’s dividend payout ratio is -90.48%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on SLG. Mizuho increased their price target on shares of SL Green Realty from $38.00 to $46.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. LADENBURG THALM/SH SH boosted their price objective on shares of SL Green Realty from $42.00 to $46.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. UBS Group set a $60.00 target price on shares of SL Green Realty in a research report on Monday, July 27th. Morgan Stanley set a $52.00 target price on shares of SL Green Realty and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. boosted their price target on SL Green Realty from $51.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.20.
View Our Latest Analysis on SL Green Realty
Insider Transactions at SL Green Realty
In other news, insider Harrison Sitomer sold 23,113 shares of SL Green Realty stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $57.71, for a total transaction of $1,333,851.23. Following the completion of the sale, the insider directly owned 109,468 shares in the company, valued at $6,317,398.28. The trade was a 17.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 5.94% of the company’s stock.
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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