Geode Capital Management LLC Has $85.09 Million Stock Holdings in SL Green Realty Corporation $SLG

Geode Capital Management LLC cut its stake in SL Green Realty Corporation (NYSE:SLG) by 1.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,854,741 shares of the real estate investment trust’s stock after selling 22,374 shares during the quarter. Geode Capital Management LLC’s holdings in SL Green Realty were worth $85,090,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLG. State Street Corp increased its stake in shares of SL Green Realty by 1.0% in the 2nd quarter. State Street Corp now owns 4,257,874 shares of the real estate investment trust’s stock valued at $264,636,000 after purchasing an additional 41,873 shares during the last quarter. Northern Trust Corp increased its stake in shares of SL Green Realty by 3.7% in 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 increased its stake in shares of SL Green Realty by 51.6% in the 3rd quarter. Hudson Bay Capital Management LP now owns 1,460,373 shares of the real estate investment trust’s stock valued at $87,345,000 after purchasing an additional 497,040 shares during the last quarter. Dimensional Fund Advisors LP increased 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 valued at $63,401,000 after purchasing an additional 25,743 shares during the last quarter. Finally, M&T Bank Corp bought a new position in shares of SL Green Realty in the 4th quarter valued at $43,201,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SLG. Mizuho set a $38.00 price target on SL Green Realty and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Morgan Stanley decreased their price target on SL Green Realty from $43.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft upgraded SL Green Realty from a “hold” rating to a “buy” rating and decreased their price target for the company from $45.00 to $44.00 in a research note on Wednesday, March 18th. Scotiabank reiterated an “outperform” rating on shares of SL Green Realty in a research note on Thursday, May 21st. Finally, Wells Fargo & Company lifted their price target on SL Green Realty from $40.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $50.70.

SL Green Realty Trading Up 0.3%

Shares of SLG stock opened at $47.97 on Monday. The firm has a market capitalization of $3.43 billion, a P/E ratio of -19.11 and a beta of 1.61. SL Green Realty Corporation has a twelve month low of $34.77 and a twelve month high of $66.91. 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 stock’s fifty day simple moving average is $41.90 and its 200 day simple moving average is $42.73.

SL Green Realty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.6175 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.47 annualized dividend and a yield of 5.1%. SL Green Realty’s payout ratio is presently -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.