Engineers Gate Manager LP Buys 836,044 Shares of SL Green Realty Corporation $SLG

Engineers Gate Manager LP grew its stake in SL Green Realty Corporation (NYSE:SLG) by 17,417.6% during the fourth quarter, Holdings Channel reports. The firm owned 840,844 shares of the real estate investment trust’s stock after purchasing an additional 836,044 shares during the period. Engineers Gate Manager LP’s holdings in SL Green Realty were worth $38,570,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SLG. Triumph Capital Management bought a new position in shares of SL Green Realty in the third quarter valued at approximately $45,000. Fourth Dimension Wealth LLC lifted its holdings in shares of SL Green Realty by 45.5% in the fourth quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 500 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of SL Green Realty by 30.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 378 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of SL Green Realty by 107.8% in the third quarter. Jones Financial Companies Lllp now owns 1,644 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 853 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of SL Green Realty by 255.2% in the fourth quarter. Fifth Third Bancorp now owns 2,540 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 1,825 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of SL Green Realty stock opened at $48.88 on Thursday. The business’s fifty day simple moving average is $44.19 and its 200 day simple moving average is $43.03. The firm has a market capitalization of $3.49 billion, a P/E ratio of -19.47 and a beta of 1.61. SL Green Realty Corporation has a 12 month low of $34.77 and a 12 month high of $66.29. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 1.18.

SL Green Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.6175 per share. This represents a $2.47 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Tuesday, June 30th. SL Green Realty’s dividend payout ratio (DPR) is -98.41%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SLG shares. 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 report on Wednesday, April 1st. Mizuho set a $38.00 price target on SL Green Realty and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Scotiabank reiterated an “outperform” rating on shares of SL Green Realty in a report on Thursday, May 21st. JPMorgan Chase & Co. lifted their price target on SL Green Realty from $49.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded SL Green Realty from a “hold” rating to a “buy” rating and dropped their price target for the stock from $45.00 to $44.00 in a report on Wednesday, March 18th. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.90.

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.