Clear Harbor Asset Management LLC Makes New Investment in SL Green Realty Corporation $SLG

Clear Harbor Asset Management LLC acquired a new stake in shares of SL Green Realty Corporation (NYSE:SLG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,870 shares of the real estate investment trust’s stock, valued at approximately $636,000.

Other large investors also recently modified their holdings of the company. State Street Corp boosted its stake in 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 buying an additional 41,873 shares in the last quarter. Northern Trust Corp raised its stake in SL Green Realty by 3.7% during the third quarter. Northern Trust Corp now owns 1,543,987 shares of the real estate investment trust’s stock worth $92,346,000 after acquiring an additional 54,890 shares in the last quarter. Hudson Bay Capital Management LP lifted its holdings in shares of SL Green Realty by 51.6% during 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 period. Dimensional Fund Advisors LP boosted 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 in the last quarter. Finally, Norges Bank acquired a new stake in shares of SL Green Realty in the 4th quarter valued at $44,094,000. 89.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SLG has been the subject of a number of recent analyst reports. Scotiabank reiterated an “outperform” rating on shares of SL Green Realty in a research report on Thursday, May 21st. Zacks Research raised shares of SL Green Realty from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. BTIG Research cut their target price on shares of SL Green Realty from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. The Goldman Sachs Group set a $37.00 target price on SL Green Realty and gave the stock a “sell” rating in a report on Friday, February 6th. Finally, Morgan Stanley dropped their price target on 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. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.70.

SL Green Realty Price Performance

Shares of SLG stock opened at $45.18 on Wednesday. SL Green Realty Corporation has a 1 year low of $34.77 and a 1 year high of $66.91. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 1.18. The firm’s 50 day moving average is $41.23 and its 200-day moving average is $42.77. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -18.00 and a beta of 1.61.

SL Green Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.6175 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.47 dividend on an annualized basis and a dividend yield of 5.5%. SL Green Realty’s payout ratio is presently -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.