Corient Private Wealth LP Invests $1.24 Million in SL Green Realty Corporation $SLG

Corient Private Wealth LP acquired a new stake in shares of SL Green Realty Corporation (NYSE:SLG) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 23,995 shares of the real estate investment trust’s stock, valued at approximately $1,242,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of SL Green Realty in the 2nd quarter valued at about $706,881,000. State Street Corp increased its position in shares of SL Green Realty by 1.0% during the second quarter. State Street Corp now owns 4,257,874 shares of the real estate investment trust’s stock worth $264,636,000 after purchasing an additional 41,873 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of SL Green Realty by 25.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 3,041,226 shares of the real estate investment trust’s stock valued at $139,501,000 after purchasing an additional 617,488 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings 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 purchasing an additional 1,117,357 shares during the last quarter. Finally, Cohen & Steers Inc. acquired a new stake in shares of SL Green Realty in the 4th quarter worth $121,675,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of SLG stock opened at $55.56 on Friday. The company has a market capitalization of $3.95 billion, a P/E ratio of -20.35, a P/E/G ratio of 2.37 and a beta of 1.60. The business’s 50 day moving average is $54.07 and its two-hundred day moving average is $46.37. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 1.05. SL Green Realty Corporation has a 12-month low of $34.77 and a 12-month high of $66.29.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.21. The business 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% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 earnings per share. Analysts expect that SL Green Realty Corporation will post 5.53 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.6175 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.4%. SL Green Realty’s payout ratio is currently -90.48%.

Insider Activity

In related news, insider Harrison Sitomer sold 23,113 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $57.71, for a total transaction of $1,333,851.23. Following the completion of the sale, the insider directly owned 109,468 shares in the company, valued at approximately $6,317,398.28. The trade was a 17.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.94% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SLG shares. Scotiabank upped their price target on shares of SL Green Realty from $56.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. raised their price objective on SL Green Realty from $51.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 25th. Wells Fargo & Company set a $56.50 target price on SL Green Realty and gave the stock an “equal weight” rating in a report on Tuesday. Weiss Ratings reiterated a “sell (d+)” rating on shares of SL Green Realty in a research report on Tuesday, August 25th. Finally, Barclays set a $52.00 price target on SL Green Realty and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $56.83.

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.