Ibex Wealth Advisors Buys New Position in SL Green Realty Corporation $SLG

Ibex Wealth Advisors purchased a new position in shares of SL Green Realty Corporation (NYSE:SLG) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 182,383 shares of the real estate investment trust’s stock, valued at approximately $6,737,000. Ibex Wealth Advisors owned about 0.26% of SL Green Realty as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Cohen & Steers Inc. purchased a new stake in SL Green Realty in the fourth quarter valued at approximately $121,675,000. Goldman Sachs Group Inc. grew its position 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 worth $133,862,000 after acquiring an additional 1,117,357 shares during the last quarter. Norges Bank purchased a new position in shares of SL Green Realty during the fourth quarter worth approximately $44,094,000. M&T Bank Corp acquired a new position in shares of SL Green Realty in the 4th quarter valued at $43,201,000. Finally, Victory Capital Management Inc. increased its holdings in shares of SL Green Realty by 535.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,107,618 shares of the real estate investment trust’s stock valued at $50,806,000 after acquiring an additional 933,272 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Stock Down 0.2%

SLG stock opened at $48.26 on Friday. The stock has a market capitalization of $3.45 billion, a PE ratio of -19.23 and a beta of 1.58. The company has a fifty day moving average of $47.31 and a 200-day moving average of $43.74. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.03 and a current ratio of 3.03. SL Green Realty Corporation has a one year low of $34.77 and a one year high of $66.29.

SL Green Realty Dividend Announcement

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 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 dividend yield of 5.1%. SL Green Realty’s dividend payout ratio is -98.41%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SLG. Wells Fargo & Company increased their price target on shares of SL Green Realty from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. JPMorgan Chase & Co. lifted their price objective on shares of SL Green Realty from $49.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Evercore cut shares of SL Green Realty from an “outperform” rating to an “in-line” rating and set a $56.00 target price for the company. in a report on Monday. Piper Sandler decreased their target price on shares of 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. Finally, Morgan Stanley lowered their price target on SL Green Realty from $43.00 to $36.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, SL Green Realty presently has a consensus rating of “Hold” and a consensus target price of $50.75.

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.