Deutsche Bank AG Acquires New Stake in SL Green Realty Corporation $SLG

Deutsche Bank AG acquired a new stake in shares of SL Green Realty Corporation (NYSE:SLG) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 1,124,243 shares of the real estate investment trust’s stock, valued at approximately $58,202,000.

A number of other large investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of SL Green Realty during the 2nd quarter valued at $3,186,000. Global Retirement Partners LLC bought a new position in shares of SL Green Realty during the 2nd quarter worth $53,000. Bank of New York Mellon Corp purchased a new stake in SL Green Realty in the 2nd quarter worth about $42,277,000. Prospect Financial Services LLC purchased a new stake in SL Green Realty in the 2nd quarter worth about $12,622,000. Finally, Handelsbanken Fonder AB raised its stake in SL Green Realty by 30.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 26,865 shares of the real estate investment trust’s stock valued at $1,391,000 after acquiring an additional 6,200 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SLG shares. Barclays set a $52.00 price objective on shares of SL Green Realty and gave the company an “equal weight” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. lifted their target price on shares of SL Green Realty from $49.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Wall Street Zen lowered shares of SL Green Realty from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. BMO Capital Markets restated an “outperform” rating and set a $60.00 price target (up from $52.00) on shares of SL Green Realty in a research note on Monday, July 27th. Finally, UBS Group set a $60.00 price objective on shares of SL Green Realty in a report on Monday, July 27th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, SL Green Realty presently has a consensus rating of “Hold” and an average target price of $55.15.

SL Green Realty Stock Performance

NYSE:SLG opened at $58.30 on Friday. The business’s fifty day moving average is $52.63 and its 200 day moving average is $45.24. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of -21.36, a PEG ratio of 2.53 and a beta of 1.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.10 and a current ratio of 3.10. SL Green Realty Corporation has a 52-week low of $34.77 and a 52-week high of $66.29.

SL Green Realty (NYSE:SLG) last issued its earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.21. The business had revenue of $264.00 million during the quarter, compared to the consensus estimate 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 revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.63 EPS. Research analysts predict that SL Green Realty Corporation will post 5.44 EPS for the current year.

SL Green Realty Announces Dividend

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

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.