Hsbc Holdings PLC Raises Stock Holdings in SL Green Realty Corporation $SLG

Hsbc Holdings PLC increased its holdings in shares of SL Green Realty Corporation (NYSE:SLG) by 17.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 131,367 shares of the real estate investment trust’s stock after acquiring an additional 19,052 shares during the quarter. Hsbc Holdings PLC owned approximately 0.18% of SL Green Realty worth $6,030,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of SL Green Realty by 12.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 727,906 shares of the real estate investment trust’s stock worth $43,536,000 after purchasing an additional 81,910 shares during the period. SG Americas Securities LLC grew its position in SL Green Realty by 63.8% during the fourth quarter. SG Americas Securities LLC now owns 80,888 shares of the real estate investment trust’s stock valued at $3,710,000 after buying an additional 31,505 shares during the period. Hosking Partners LLP increased its holdings in SL Green Realty by 18.5% during the fourth quarter. Hosking Partners LLP now owns 290,166 shares of the real estate investment trust’s stock worth $13,310,000 after buying an additional 45,337 shares during the last quarter. M&T Bank Corp purchased a new stake in SL Green Realty during the fourth quarter worth about $43,201,000. Finally, Levin Capital Strategies L.P. bought a new stake in SL Green Realty in the fourth quarter worth about $3,588,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of SL Green Realty from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, March 24th. LADENBURG THALM/SH SH increased their price objective on SL Green Realty from $42.00 to $46.00 and gave the company a “neutral” rating in a report on Wednesday. Truist Financial boosted their target price on SL Green Realty from $44.00 to $46.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. Scotiabank reaffirmed an “outperform” rating on shares of SL Green Realty in a research report on Thursday, May 21st. Finally, JPMorgan Chase & Co. lifted their price objective on SL Green Realty from $49.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $50.75.

SL Green Realty Stock Down 3.8%

SLG opened at $48.37 on Thursday. SL Green Realty Corporation has a 12 month low of $34.77 and a 12 month high of $66.29. The company has a market cap of $3.46 billion, a PE ratio of -19.27 and a beta of 1.58. 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 company has a 50 day moving average of $47.22 and a 200 day moving average of $43.71.

SL Green Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.6175 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.47 annualized dividend and a dividend yield of 5.1%. SL Green Realty’s payout ratio is -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.