Goldman Sachs Group Inc. raised its position in SL Green Realty Corporation (NYSE:SLG – Free Report) by 62.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,918,292 shares of the real estate investment trust’s stock after acquiring an additional 1,117,357 shares during the quarter. Goldman Sachs Group Inc.’s holdings in SL Green Realty were worth $133,862,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. State Street Corp grew its position in SL Green Realty by 1.0% in the 2nd quarter. State Street Corp now owns 4,257,874 shares of the real estate investment trust’s stock valued at $264,636,000 after acquiring an additional 41,873 shares in the last quarter. Northern Trust Corp boosted its stake in shares of SL Green Realty by 3.7% in the 3rd quarter. Northern Trust Corp now owns 1,543,987 shares of the real estate investment trust’s stock valued at $92,346,000 after buying an additional 54,890 shares during the period. Hudson Bay Capital Management LP boosted its stake in shares of SL Green Realty by 51.6% in 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 buying an additional 497,040 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of SL Green Realty by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,060,037 shares of the real estate investment trust’s stock valued at $63,401,000 after buying an additional 25,743 shares during the period. Finally, Norges Bank purchased a new position in shares of SL Green Realty in the 4th quarter valued at about $44,094,000. 89.96% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
SLG has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on SL Green Realty from $49.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Evercore reiterated an “outperform” rating and issued a $50.00 price objective on shares of SL Green Realty in a research note on Monday. Zacks Research upgraded SL Green Realty from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. Wells Fargo & Company lifted their price objective on SL Green Realty from $40.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Finally, Weiss Ratings upgraded SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, SL Green Realty has an average rating of “Hold” and a consensus price target of $50.90.
SL Green Realty Price Performance
SLG stock opened at $48.97 on Tuesday. The business has a 50 day moving average price of $42.14 and a 200 day moving average price of $42.76. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of -19.51 and a beta of 1.61. SL Green Realty Corporation has a fifty-two week low of $34.77 and a fifty-two week high of $66.91. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 1.18.
SL Green Realty Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.6175 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.47 annualized dividend and a yield of 5.0%. SL Green Realty’s payout ratio is -98.41%.
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.
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