Altfest L J & Co. Inc. Invests $911,000 in SL Green Realty Corporation $SLG

Altfest L J & Co. Inc. purchased a new stake in shares of SL Green Realty Corporation (NYSE:SLG) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 19,856 shares of the real estate investment trust’s stock, valued at approximately $911,000.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in SL Green Realty by 12.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 727,906 shares of the real estate investment trust’s stock valued at $43,536,000 after purchasing an additional 81,910 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in SL Green Realty by 282.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 52,986 shares of the real estate investment trust’s stock valued at $3,169,000 after purchasing an additional 39,135 shares during the last quarter. Picton Mahoney Asset Management grew its holdings in SL Green Realty by 218.2% during the 3rd quarter. Picton Mahoney Asset Management now owns 239,012 shares of the real estate investment trust’s stock valued at $14,296,000 after purchasing an additional 163,903 shares during the last quarter. Strs Ohio grew its holdings in SL Green Realty by 78.6% during the 3rd quarter. Strs Ohio now owns 138,800 shares of the real estate investment trust’s stock valued at $8,302,000 after purchasing an additional 61,100 shares during the last quarter. Finally, Aberdeen Group plc grew its holdings in SL Green Realty by 95.8% during the 3rd quarter. Aberdeen Group plc now owns 288,709 shares of the real estate investment trust’s stock valued at $17,302,000 after purchasing an additional 141,263 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Piper Sandler dropped their target price on shares of SL Green Realty from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Raymond James Financial set a $44.00 target price on shares of SL Green Realty in a research note on Tuesday, February 3rd. Citigroup dropped their target price 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 set a $52.00 target price on shares of SL Green Realty and gave the stock a “sector outperform” rating in a research note on Friday, March 13th. Finally, JPMorgan Chase & Co. dropped their target price on shares of SL Green Realty from $52.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 14th. Eight 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.45.

SL Green Realty Price Performance

Shares of SLG stock opened at $38.41 on Monday. The company’s 50-day simple moving average is $38.74 and its two-hundred day simple moving average is $45.53. SL Green Realty Corporation has a one year low of $34.77 and a one year high of $66.91. The company has a market capitalization of $2.74 billion, a P/E ratio of -23.86 and a beta of 1.61. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.66 and a quick ratio of 2.66.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.03. SL Green Realty had a negative net margin of 9.66% and a negative return on equity of 2.44%. The firm had revenue of $159.82 million during the quarter, compared to analysts’ expectations of $162.73 million. During the same quarter in the prior year, the company earned $1.81 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $0.6175 dividend. This represents a $2.47 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is Tuesday, March 31st. SL Green Realty’s dividend payout ratio is presently -153.42%.

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.