Levin Capital Strategies L.P. Acquires New Shares in SL Green Realty Corporation $SLG

Levin Capital Strategies L.P. acquired a new stake in SL Green Realty Corporation (NYSE:SLG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 78,212 shares of the real estate investment trust’s stock, valued at approximately $3,588,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in SLG. Quent Capital LLC bought a new stake in shares of SL Green Realty in the third quarter valued at about $27,000. Salomon & Ludwin LLC bought a new stake in shares of SL Green Realty in the third quarter valued at about $29,000. Whittier Trust Co. bought a new position in SL Green Realty in the third quarter worth about $29,000. Triumph Capital Management bought a new position in SL Green Realty in the third quarter worth about $45,000. Finally, Cornerstone Planning Group LLC raised its holdings in SL Green Realty by 12,114.3% in the third quarter. Cornerstone Planning Group LLC now owns 855 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 848 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. The Goldman Sachs Group set a $37.00 target price on shares of SL Green Realty and gave the stock a “sell” rating in a report on Friday, February 6th. JPMorgan Chase & Co. reduced their target price on shares of SL Green Realty from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Barclays reduced their target price on shares of SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Morgan Stanley reduced their target price on shares of SL Green Realty from $43.00 to $36.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of SL Green Realty in a report on Wednesday, January 21st. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, SL Green Realty currently has a consensus rating of “Hold” and a consensus price target of $51.15.

SL Green Realty Stock Performance

SLG opened at $42.34 on Thursday. SL Green Realty Corporation has a 52-week low of $34.77 and a 52-week high of $66.91. The company has a quick ratio of 2.66, a current ratio of 3.03 and a debt-to-equity ratio of 1.19. The company has a market cap of $3.02 billion, a P/E ratio of -16.87 and a beta of 1.61. The firm’s 50-day moving average price is $38.95 and its 200-day moving average price is $44.10.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.03. SL Green Realty had a negative net margin of 15.77% and a negative return on equity of 4.06%. The firm had revenue of $159.82 million for the quarter, compared to the consensus estimate of $162.73 million. During the same quarter in the prior year, the company posted $1.81 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities analysts anticipate that SL Green Realty Corporation will post 4.65 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.6175 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.47 annualized dividend and a dividend yield of 5.8%. SL Green Realty’s dividend payout ratio is -98.41%.

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.