Value Investment Professionals LLC Takes $383,000 Position in SL Green Realty Corporation $SLG

Value Investment Professionals LLC purchased a new position in SL Green Realty Corporation (NYSE:SLG) in the first quarter, Holdings Channel.com reports. The firm purchased 10,375 shares of the real estate investment trust’s stock, valued at approximately $383,000.

Several other hedge funds have also recently made changes to their positions in the stock. Cohen & Steers Inc. bought a new position in SL Green Realty during the fourth quarter valued at approximately $121,675,000. Goldman Sachs Group Inc. grew its position in SL Green Realty by 62.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust’s stock worth $133,862,000 after purchasing an additional 1,117,357 shares during the period. Norges Bank bought a new stake in SL Green Realty in the 4th quarter worth approximately $44,094,000. M&T Bank Corp purchased a new stake in SL Green Realty during the 4th quarter valued at $43,201,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of SL Green Realty by 535.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,107,618 shares of the real estate investment trust’s stock valued at $50,806,000 after buying an additional 933,272 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SLG shares. Citigroup dropped their price target on 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. Truist Financial upped their price objective on SL Green Realty from $44.00 to $46.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. Evercore reissued an “outperform” rating and issued a $50.00 target price on shares of SL Green Realty in a report on Monday, June 8th. Wells Fargo & Company raised their target price on SL Green Realty from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Finally, Piper Sandler dropped their target price on SL Green Realty from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.90.

SL Green Realty Stock Down 0.1%

SLG opened at $53.38 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.03 and a current ratio of 3.03. SL Green Realty Corporation has a fifty-two week low of $34.77 and a fifty-two week high of $66.29. The firm’s fifty day moving average is $46.76 and its 200 day moving average is $43.61. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of -21.26 and a beta of 1.58.

SL Green Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.6175 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.47 dividend on an annualized basis and a yield of 4.6%. SL Green Realty’s dividend payout ratio (DPR) is currently -98.41%.

SL Green Realty 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.