SL Green Realty Corporation $SLG Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC raised its stake in SL Green Realty Corporation (NYSE:SLG) by 3,375.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,870 shares of the real estate investment trust’s stock after acquiring an additional 124,191 shares during the quarter. HighTower Advisors LLC owned approximately 0.18% of SL Green Realty worth $5,865,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its holdings in SL Green Realty by 5.1% in the third quarter. PNC Financial Services Group Inc. now owns 5,489 shares of the real estate investment trust’s stock valued at $328,000 after acquiring an additional 267 shares during the period. Probity Advisors Inc. lifted its holdings in SL Green Realty by 2.8% in the fourth quarter. Probity Advisors Inc. now owns 10,040 shares of the real estate investment trust’s stock valued at $461,000 after acquiring an additional 269 shares during the period. Arizona State Retirement System lifted its holdings in SL Green Realty by 1.4% in the third quarter. Arizona State Retirement System now owns 21,014 shares of the real estate investment trust’s stock valued at $1,257,000 after acquiring an additional 292 shares during the period. Xponance Inc. lifted its holdings in SL Green Realty by 5.2% in the third quarter. Xponance Inc. now owns 6,264 shares of the real estate investment trust’s stock valued at $375,000 after acquiring an additional 308 shares during the period. Finally, Telos Capital Management Inc. lifted its holdings in SL Green Realty by 3.6% in the fourth quarter. Telos Capital Management Inc. now owns 11,277 shares of the real estate investment trust’s stock valued at $517,000 after acquiring an additional 396 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Trading Up 2.9%

Shares of SLG stock opened at $45.39 on Thursday. 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 company has a market cap of $3.24 billion, a price-to-earnings ratio of -18.08 and a beta of 1.60. The stock has a 50 day simple moving average of $40.85 and a 200-day simple moving average of $42.90. SL Green Realty Corporation has a 1-year low of $34.77 and a 1-year high of $66.91.

SL Green Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.6175 per share. This represents a $2.47 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Tuesday, March 31st. SL Green Realty’s dividend payout ratio is presently -98.41%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Raymond James Financial set a $44.00 price target on SL Green Realty in a report on Tuesday, February 3rd. Zacks Research raised SL Green Realty from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 25th. Scotiabank reissued an “outperform” rating on shares of SL Green Realty in a report on Thursday, May 21st. Barclays decreased their price target on SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Finally, Morgan Stanley decreased their price target on SL Green Realty from $43.00 to $36.00 and set an “equal weight” rating for the company in a report 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $51.20.

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.