Value Investment Professionals LLC Makes New Investment in SL Green Realty Corporation $SLG

Value Investment Professionals LLC bought a new position in shares of SL Green Realty Corporation (NYSE:SLG) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,375 shares of the real estate investment trust’s stock, valued at approximately $383,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Triumph Capital Management purchased a new position in shares of SL Green Realty in the 3rd quarter valued at approximately $45,000. Davis Capital Management purchased a new stake in SL Green Realty in the first quarter worth $46,000. Fourth Dimension Wealth LLC grew its stake in SL Green Realty by 45.5% in the fourth quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 500 shares during the period. Hantz Financial Services Inc. raised its holdings in SL Green Realty by 30.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 378 shares in the last quarter. Finally, Leonteq Securities AG raised its holdings in SL Green Realty by 4,194.0% in the first quarter. Leonteq Securities AG now owns 2,147 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 2,097 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Scotiabank restated an “outperform” rating on shares of SL Green Realty in a report on Thursday, May 21st. Evercore reiterated an “outperform” rating and issued a $50.00 price target on shares of SL Green Realty in a research note on Monday, June 8th. Morgan Stanley decreased their price target on shares of SL Green Realty from $43.00 to $36.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Citigroup lowered their price target 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. Finally, Wells Fargo & Company boosted their price objective 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. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $50.90.

SL Green Realty Stock Performance

SLG stock opened at $53.38 on Friday. The stock’s 50 day simple moving average is $46.76 and its 200 day simple moving average is $43.61. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 1.18. SL Green Realty Corporation has a 12-month low of $34.77 and a 12-month high of $66.29. The stock has a market capitalization of $3.81 billion, a PE ratio of -21.26 and a beta of 1.58.

SL Green Realty Announces Dividend

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. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.6%. 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 Company 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.