SL Green Realty Corporation $SLG Holdings Trimmed by SG Americas Securities LLC

SG Americas Securities LLC lowered its holdings in SL Green Realty Corporation (NYSE:SLG) by 24.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,161 shares of the real estate investment trust’s stock after selling 19,727 shares during the period. SG Americas Securities LLC owned approximately 0.09% of SL Green Realty worth $2,259,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Davis Capital Management acquired a new position in SL Green Realty during the first quarter valued at $46,000. Hsbc Holdings PLC boosted its position in SL Green Realty by 17.0% during the 4th quarter. Hsbc Holdings PLC now owns 131,367 shares of the real estate investment trust’s stock worth $6,030,000 after acquiring an additional 19,052 shares during the period. Invesco Ltd. boosted its position in SL Green Realty by 83.0% during the 4th quarter. Invesco Ltd. now owns 310,982 shares of the real estate investment trust’s stock worth $14,265,000 after acquiring an additional 141,060 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in SL Green Realty by 11.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,595 shares of the real estate investment trust’s stock valued at $440,000 after acquiring an additional 976 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of SL Green Realty by 6.2% in the 4th quarter. Empowered Funds LLC now owns 6,220 shares of the real estate investment trust’s stock valued at $285,000 after purchasing an additional 361 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Price Performance

NYSE SLG opened at $52.23 on Thursday. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $3.73 billion, a PE ratio of -20.81 and a beta of 1.58. SL Green Realty Corporation has a 12-month low of $34.77 and a 12-month high of $66.29. The company has a 50 day moving average price of $46.35 and a two-hundred day moving average price of $43.48.

SL Green Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.6175 per share. This represents a $2.47 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, June 30th. SL Green Realty’s dividend payout ratio is presently -98.41%.

Wall Street Analyst Weigh In

Several analysts recently commented on SLG shares. Piper Sandler decreased their price target on shares of SL Green Realty from $60.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Citigroup dropped their price objective on shares of 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. Scotiabank reissued an “outperform” rating on shares of SL Green Realty in a research note on Thursday, May 21st. Evercore restated an “outperform” rating and set a $50.00 price target on shares of SL Green Realty in a report on Monday, June 8th. Finally, Morgan Stanley dropped their price target 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. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $50.90.

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.