Hsbc Holdings PLC Takes Position in SL Green Realty Corporation $SLG

Hsbc Holdings PLC purchased a new position in shares of SL Green Realty Corporation (NYSE:SLG) in the 2nd quarter, Holdings Channel reports. The firm purchased 189,097 shares of the real estate investment trust’s stock, valued at approximately $9,808,000.

A number of other institutional investors have also made changes to their positions in SLG. Triumph Capital Management acquired a new stake in SL Green Realty in the 3rd quarter valued at $45,000. Davis Capital Management bought a new position in shares of SL Green Realty in the 1st quarter valued at about $46,000. Global Retirement Partners LLC acquired a new stake in shares of SL Green Realty in the second quarter valued at about $53,000. Fourth Dimension Wealth LLC raised its holdings in SL Green Realty by 45.5% during the fourth quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 500 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in SL Green Realty by 30.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 378 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

SLG has been the topic of several recent analyst reports. Wall Street Zen lowered SL Green Realty from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Mizuho boosted their target price on shares of SL Green Realty from $38.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Morgan Stanley set a $52.00 price target on shares of SL Green Realty and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $60.00 price target (up from $52.00) on shares of SL Green Realty in a research note on Monday, July 27th. Finally, Scotiabank lifted their price objective on shares of SL Green Realty from $56.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Wednesday, August 5th. 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $56.20.

SL Green Realty Price Performance

NYSE:SLG opened at $57.65 on Friday. SL Green Realty Corporation has a 12-month low of $34.77 and a 12-month high of $66.29. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of -21.12, a P/E/G ratio of 2.51 and a beta of 1.58. The stock’s 50 day moving average price is $53.57 and its two-hundred day moving average price is $45.87. 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 (NYSE:SLG) last posted its earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.21. The business had revenue of $264.00 million for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $1.63 EPS. On average, analysts anticipate that SL Green Realty Corporation will post 5.51 earnings per share for the current year.

SL Green Realty Announces Dividend

The business also recently disclosed 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. This represents a $2.47 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, June 30th. SL Green Realty’s payout ratio is -90.48%.

Insider Activity at SL Green Realty

In other SL Green Realty news, insider Harrison Sitomer sold 23,113 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $57.71, for a total value of $1,333,851.23. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.94% of the stock is currently owned by corporate insiders.

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.