B&I Capital AG Makes New Investment in SL Green Realty Corporation $SLG

B&I Capital AG purchased a new position in shares of SL Green Realty Corporation (NYSE:SLG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 104,500 shares of the real estate investment trust’s stock, valued at approximately $3,860,000. SL Green Realty makes up about 1.3% of B&I Capital AG’s investment portfolio, making the stock its 21st biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cohen & Steers Inc. acquired a new position in shares of SL Green Realty in the 4th quarter valued at $121,675,000. Goldman Sachs Group Inc. lifted its holdings in shares of SL Green Realty by 62.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust’s stock valued at $133,862,000 after purchasing an additional 1,117,357 shares in the last quarter. Norges Bank acquired a new position in shares of SL Green Realty in the 4th quarter valued at approximately $44,094,000. M&T Bank Corp acquired a new position in shares of SL Green Realty in the 4th quarter valued at approximately $43,201,000. Finally, Victory Capital Management Inc. grew its position in shares of SL Green Realty by 535.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,107,618 shares of the real estate investment trust’s stock valued at $50,806,000 after purchasing an additional 933,272 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SLG. Weiss Ratings upgraded shares of SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Citigroup cut their price target on shares of SL Green Realty from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, March 24th. Scotiabank reiterated an “outperform” rating on shares of SL Green Realty in a report on Thursday, May 21st. Piper Sandler lowered their price objective on shares of SL Green Realty from $60.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Finally, UBS Group set a $56.00 price objective on shares of SL Green Realty in a report on Monday, July 6th. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $50.75.

SL Green Realty Trading Up 1.9%

NYSE:SLG opened at $51.73 on Friday. SL Green Realty Corporation has a twelve month low of $34.77 and a twelve month high of $66.29. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 1.18. The business has a 50 day moving average price of $47.93 and a two-hundred day moving average price of $43.89. The company has a market cap of $3.70 billion, a P/E ratio of -20.61 and a beta of 1.58.

SL Green Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Tuesday, June 30th. SL Green Realty’s payout ratio is currently -98.41%.

SL Green Realty Company 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.