Janney Montgomery Scott LLC Has $2.07 Million Stock Holdings in SL Green Realty Corporation $SLG

Janney Montgomery Scott LLC raised its position in shares of SL Green Realty Corporation (NYSE:SLG) by 36.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,936 shares of the real estate investment trust’s stock after buying an additional 14,813 shares during the quarter. Janney Montgomery Scott LLC owned 0.08% of SL Green Realty worth $2,066,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Cohen & Steers Inc. acquired a new position in SL Green Realty in the 4th quarter worth approximately $121,675,000. Goldman Sachs Group Inc. grew its position in SL Green Realty by 62.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust’s stock worth $133,862,000 after purchasing an additional 1,117,357 shares in the last quarter. Norges Bank acquired a new stake in SL Green Realty during the 4th quarter valued at $44,094,000. M&T Bank Corp acquired a new stake in SL Green Realty during the 4th quarter valued at $43,201,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of SL Green Realty by 535.3% in the fourth 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 purchasing an additional 933,272 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SLG. JPMorgan Chase & Co. lifted their price target on SL Green Realty from $49.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Piper Sandler reduced their price objective on 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. UBS Group set a $56.00 price objective on SL Green Realty in a research report on Monday. Truist Financial lifted 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. Finally, Citigroup dropped their target price on SL Green Realty from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, March 24th. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.75.

SL Green Realty Price Performance

SLG opened at $48.26 on Friday. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -19.23 and a beta of 1.58. SL Green Realty Corporation has a 1 year low of $34.77 and a 1 year high of $66.29. 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 stock has a fifty day moving average price of $47.31 and a 200 day moving average price of $43.74.

SL Green Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.6175 per share. The ex-dividend date 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 (DPR) is currently -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.