Hsbc Holdings PLC Grows Stake in SL Green Realty Corporation $SLG

Hsbc Holdings PLC increased its stake in shares of SL Green Realty Corporation (NYSE:SLG) by 17.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 131,367 shares of the real estate investment trust’s stock after purchasing an additional 19,052 shares during the period. Hsbc Holdings PLC owned 0.18% of SL Green Realty worth $6,030,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. State Street Corp boosted its holdings 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 worth $264,636,000 after buying an additional 41,873 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of SL Green Realty by 25.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 3,041,226 shares of the real estate investment trust’s stock valued at $139,501,000 after acquiring an additional 617,488 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of SL Green Realty by 62.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust’s stock valued at $133,862,000 after acquiring an additional 1,117,357 shares during the last quarter. Cohen & Steers Inc. purchased a new position in shares of SL Green Realty in the fourth quarter valued at approximately $121,675,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of SL Green Realty by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,561,121 shares of the real estate investment trust’s stock valued at $71,609,000 after acquiring an additional 32,779 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Trading Up 3.7%

Shares of SL Green Realty stock opened at $52.03 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 3.03. The stock’s 50 day simple moving average is $45.77 and its 200-day simple moving average is $43.29. The stock has a market cap of $3.72 billion, a P/E ratio of -20.73 and a beta of 1.61. SL Green Realty Corporation has a 1-year low of $34.77 and a 1-year high of $66.29.

SL Green Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid 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 4.7%. SL Green Realty’s payout ratio is -98.41%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SLG shares. JPMorgan Chase & Co. boosted their price target on SL Green Realty from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft upgraded SL Green Realty from a “hold” rating to a “buy” rating and decreased their price objective for the company from $45.00 to $44.00 in a report on Wednesday, March 18th. Morgan Stanley lowered 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. Evercore reaffirmed an “outperform” rating and set a $50.00 target price on shares of SL Green Realty in a report on Monday, June 8th. Finally, Scotiabank reiterated an “outperform” rating on shares of SL Green Realty in a research report on Thursday, May 21st. 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 MarketBeat, the company presently 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.