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Sumitomo Mitsui DS Asset Management Company Ltd has increased its holdings in SL Green Realty Corp. (NYSE: SLG – Get Rating) by 13.0% during the 1st quarter, according to its last filing with the Securities and Exchange Commission (SEC). The fund held 7,052 shares of the real estate investment trust after acquiring an additional 811 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in SL Green Realty were worth $572,000 at the end of last quarter.
Several other hedge funds have also increased or reduced their stakes in the company. Wetherby Asset Management Inc. increased its holdings of SL Green Realty shares by 4.8% in the fourth quarter. Wetherby Asset Management Inc. now owns 3,169 shares of the real estate investment trust worth $228,000 after purchasing an additional 146 shares during the period. Lazard Asset Management LLC increased its holdings of SL Green Realty shares by 11.2% in the fourth quarter. Lazard Asset Management LLC now owns 1,455 shares of the real estate investment trust valued at $104,000 after purchasing 147 additional shares during the period. Arrow Investment Advisors LLC increased its holdings of SL Green Realty shares by 4.2% in the fourth quarter. Arrow Investment Advisors LLC now owns 3,892 shares of the real estate investment trust worth $279,000 after buying 156 additional shares during the period. Phocas Financial Corp. increased its holdings of SL Green Realty shares by 1.7% in the fourth quarter. Phocas Financial Corp. now owns 12,062 shares of the real estate investment trust valued at $865,000 after purchasing an additional 197 shares during the period. Finally, Gilman Hill Asset Management LLC increased its holdings of SL Green Realty shares by 0.3% in the first quarter. Gilman Hill Asset Management LLC now owns 92,795 shares of the real estate investment trust valued at $7,533,000 after purchasing an additional 252 shares during the period. 84.49% of the shares are currently held by institutional investors and hedge funds.
Shares of NYSE:SLG opened at $47.41 on Friday. The company’s 50-day moving average price is $59.30 and its 200-day moving average price is $71.25. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 7.00, a growth price-to-earnings ratio of 3.55 and a beta of 1.41. SL Green Realty Corp. has a fifty-two week low of $45.52 and a fifty-two week high of $83.96. The company has a quick ratio of 2.36, a current ratio of 2.36 and a leverage ratio of 0.97.
SL Green Realty (NYSE:SLG – Get Rating) last released its results on Wednesday, April 20. The real estate investment trust reported earnings per share of $0.11 for the quarter, beating the consensus estimate of $0.01 by $0.10. The company posted revenue of $187.96 million for the quarter, compared to $163.65 million expected by analysts. SL Green Realty had a net margin of 57.70% and a return on equity of 9.58%. The company’s revenues were down 16.9% from the same quarter last year. In the same quarter last year, the company earned earnings per share of $1.78. On average, stock analysts expect SL Green Realty Corp. will post an EPS of 6.81 for the current year.
The company also recently announced a monthly dividend, which will be paid on Friday, July 15. Investors of record on Thursday, June 30 will receive a dividend of $0.311. This is a boost from SL Green Realty’s previous monthly dividend of $0.31. The ex-date of this dividend is Wednesday, June 29. This represents an annualized dividend of $3.73 and a yield of 7.87%. SL Green Realty’s Dividend Payout Ratio (DPR) is 55.08%.
Several research analysts have weighed in on SLG shares. Wells Fargo & Company lowered its target price on shares of SL Green Realty from $76.00 to $48.00 and set an “equal weight” rating for the company in a research note on Friday. Mizuho began covering SL Green Realty shares in a research note on Friday, April 22. They set a “neutral” rating and a target price of $77.00 for the company. StockNews.com began covering SL Green Realty shares in a research note on Thursday, March 31. They set a “holding” rating for the company. Deutsche Bank Aktiengesellschaft lowered its price target on SL Green Realty shares from $82.00 to $81.00 and set a “buy” rating for the company in a Thursday, April 14 research note. Finally, Credit Suisse Group launched a hedge on the shares of SL Green Realty in a research note on Wednesday, June 22. They set a “neutral” rating and a target price of $51.00 for the company. Ten equity research analysts gave the stock a hold rating and three gave the company a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $66.96.
About SL Green Realty (Get a rating)
SL Green Realty Corp., an S&P 500 company and Manhattan’s largest office owner, is a fully integrated real estate investment trust, or REIT, primarily focused on acquiring, managing and maximizing value commercial properties in Manhattan. As of December 31, 2020, SL Green held interests in 88 properties totaling 38.2 million square feet.
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