Vanguard Group Inc. Acquires 12,282 Shares of SL Green Realty Corporation $SLG

Vanguard Group Inc. increased its stake in SL Green Realty Corporation (NYSE:SLG) by 0.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 10,872,903 shares of the real estate investment trust’s stock after buying an additional 12,282 shares during the period. Vanguard Group Inc. owned approximately 0.15% of SL Green Realty worth $498,740,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp boosted its stake in SL Green Realty by 1.0% during the second quarter. State Street Corp now owns 4,257,874 shares of the real estate investment trust’s stock worth $264,636,000 after acquiring an additional 41,873 shares in the last quarter. Northern Trust Corp boosted its stake in SL Green Realty by 3.7% during 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 purchasing an additional 54,890 shares during the last quarter. Hudson Bay Capital Management LP grew its holdings in SL Green Realty by 51.6% during the third quarter. Hudson Bay Capital Management LP now owns 1,460,373 shares of the real estate investment trust’s stock worth $87,345,000 after buying an additional 497,040 shares in the last quarter. Dimensional Fund Advisors LP grew 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 worth $63,401,000 after acquiring an additional 25,743 shares in the last quarter. Finally, M&T Bank Corp bought a new stake in SL Green Realty in the 4th quarter worth about $43,201,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Trading Up 4.1%

NYSE SLG opened at $43.72 on Wednesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.66 and a current ratio of 3.03. The stock has a 50 day simple moving average of $39.13 and a two-hundred day simple moving average of $43.83. The stock has a market cap of $3.12 billion, a P/E ratio of -17.42 and a beta of 1.60. SL Green Realty Corporation has a fifty-two week low of $34.77 and a fifty-two week high of $66.91.

SL Green Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date was Tuesday, March 31st. SL Green Realty’s payout ratio is presently -98.41%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Zacks Research upgraded SL Green Realty from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. UBS Group set a $61.00 target price on SL Green Realty in a research report on Wednesday, January 14th. Piper Sandler cut 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. The Goldman Sachs Group set a $37.00 price objective on SL Green Realty and gave the company a “sell” rating in a research note on Friday, February 6th. Finally, BTIG Research cut their price target on shares of SL Green Realty from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Eight equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, SL Green Realty has a consensus rating of “Hold” and a consensus price target of $51.15.

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.