Legal & General Group Plc Has $26.66 Million Stock Position in SL Green Realty Corporation $SLG

Legal & General Group Plc increased its position in shares of SL Green Realty Corporation (NYSE:SLG) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 581,130 shares of the real estate investment trust’s stock after purchasing an additional 49,775 shares during the quarter. Legal & General Group Plc owned 0.81% of SL Green Realty worth $26,656,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its stake in SL Green Realty by 1.0% in the second quarter. State Street Corp now owns 4,257,874 shares of the real estate investment trust’s stock valued at $264,636,000 after acquiring an additional 41,873 shares during the last quarter. Northern Trust Corp boosted its stake in SL Green Realty by 3.7% in the third quarter. Northern Trust Corp now owns 1,543,987 shares of the real estate investment trust’s stock valued at $92,346,000 after buying an additional 54,890 shares in the last quarter. Hudson Bay Capital Management LP grew its position in SL Green Realty by 51.6% in the third 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 acquiring an additional 497,040 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in SL Green Realty by 2.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,060,037 shares of the real estate investment trust’s stock worth $63,401,000 after acquiring an additional 25,743 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in SL Green Realty during the fourth quarter worth about $43,201,000. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Down 0.1%

Shares of NYSE:SLG opened at $45.34 on Monday. The firm has a market cap of $3.24 billion, a P/E ratio of -18.06 and a beta of 1.61. SL Green Realty Corporation has a 12-month low of $34.77 and a 12-month high of $66.91. The business has a fifty day simple moving average of $41.13 and a 200 day simple moving average of $42.81. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 1.18.

SL Green Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Tuesday, March 31st. SL Green Realty’s payout ratio is currently -98.41%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SLG shares. JPMorgan Chase & Co. upped their price objective on shares of SL Green Realty from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Morgan Stanley decreased their target price on shares of 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. Piper Sandler dropped their price target on SL Green Realty from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Truist Financial upped their target price on SL Green Realty from $44.00 to $46.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft raised SL Green Realty from a “hold” rating to a “buy” rating and cut their price target for the company from $45.00 to $44.00 in a research note on Wednesday, March 18th. Eight research 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. According to data from MarketBeat.com, SL Green Realty has an average rating of “Hold” and an average price target of $51.20.

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.