Clear Harbor Asset Management LLC Invests $2.04 Million in SL Green Realty Corporation $SLG

Clear Harbor Asset Management LLC acquired a new position in shares of SL Green Realty Corporation (NYSE:SLG) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 39,463 shares of the real estate investment trust’s stock, valued at approximately $2,043,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in SL Green Realty by 74.8% during the 1st quarter. AQR Capital Management LLC now owns 26,883 shares of the real estate investment trust’s stock worth $1,519,000 after buying an additional 11,506 shares during the last quarter. United Services Automobile Association purchased a new position in shares of SL Green Realty in the 1st quarter valued at about $253,000. Empowered Funds LLC raised its position in shares of SL Green Realty by 10.9% during the 1st quarter. Empowered Funds LLC now owns 7,374 shares of the real estate investment trust’s stock worth $425,000 after acquiring an additional 722 shares in the last quarter. Creative Planning acquired a new stake in shares of SL Green Realty during the 2nd quarter worth about $421,000. Finally, California Public Employees Retirement System lifted its stake in SL Green Realty by 4.6% during the second quarter. California Public Employees Retirement System now owns 131,528 shares of the real estate investment trust’s stock worth $8,142,000 after purchasing an additional 5,789 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Stock Down 0.9%

SLG opened at $57.55 on Friday. SL Green Realty Corporation has a one year low of $34.77 and a one year high of $66.29. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.10 and a current ratio of 3.10. The stock has a market capitalization of $4.09 billion, a P/E ratio of -21.08, a price-to-earnings-growth ratio of 2.52 and a beta of 1.58. The business’s 50-day simple moving average is $52.76 and its 200-day simple moving average is $45.32.

SL Green Realty (NYSE:SLG) last announced its earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.21. The firm had revenue of $264.00 million during the quarter, compared to analysts’ expectations of $179.01 million. SL Green Realty had a negative return on equity of 4.37% and a negative net margin of 16.92%.The business’s revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 EPS. Analysts anticipate that SL Green Realty Corporation will post 5.44 EPS for the current year.

SL Green Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.6175 dividend. This represents a $2.47 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, June 30th. SL Green Realty’s dividend payout ratio is presently -90.48%.

Analysts Set New Price Targets

SLG has been the subject of a number of research analyst reports. Mizuho upped their price target on SL Green Realty from $38.00 to $46.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. UBS Group set a $60.00 price objective on shares of SL Green Realty in a report on Monday, July 27th. BMO Capital Markets restated an “outperform” rating and set a $60.00 price objective (up from $52.00) on shares of SL Green Realty in a research report on Monday, July 27th. LADENBURG THALM/SH SH boosted their price objective on shares of SL Green Realty from $42.00 to $46.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings upgraded shares of SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.15.

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.