SL Green Realty Corporation $SLG Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its position 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 (SEC). The firm owned 131,367 shares of the real estate investment trust’s stock after purchasing an additional 19,052 shares during the period. Hsbc Holdings PLC’s holdings in SL Green Realty were worth $6,030,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Cohen & Steers Inc. purchased a new stake in shares of SL Green Realty in the 4th quarter valued at approximately $121,675,000. Goldman Sachs Group Inc. raised its position in shares of 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 valued at $133,862,000 after buying an additional 1,117,357 shares during the period. Norges Bank purchased a new stake in shares of SL Green Realty during the 4th quarter valued at approximately $44,094,000. M&T Bank Corp acquired a new position in SL Green Realty in the fourth quarter valued at approximately $43,201,000. Finally, Victory Capital Management Inc. lifted its holdings in 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 acquiring an additional 933,272 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLG has been the subject of several recent analyst reports. Weiss Ratings raised SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Evercore reaffirmed an “outperform” rating and issued a $50.00 price target on shares of SL Green Realty in a research note on Monday, June 8th. Truist Financial upped their price target 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. Citigroup lowered their price target on SL Green Realty from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, March 24th. Finally, Deutsche Bank Aktiengesellschaft raised SL Green Realty from a “hold” rating to a “buy” rating and cut their price objective for the stock from $45.00 to $44.00 in a research report on Wednesday, March 18th. Eight equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, SL Green Realty has an average rating of “Hold” and an average target price of $50.90.

SL Green Realty Stock Up 3.7%

Shares of SLG opened at $52.03 on Friday. The stock has a market capitalization of $3.72 billion, a PE ratio of -20.73 and a beta of 1.61. SL Green Realty Corporation has a 1 year low of $34.77 and a 1 year high of $66.29. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.03 and a current ratio of 3.03. The company’s 50-day simple moving average is $45.77 and its 200-day simple moving average is $43.29.

SL Green Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid 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%.

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.