Engineers Gate Manager LP Has $38.57 Million Stock Position in SL Green Realty Corporation $SLG

Engineers Gate Manager LP increased its holdings in shares of SL Green Realty Corporation (NYSE:SLG) by 17,417.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 840,844 shares of the real estate investment trust’s stock after purchasing an additional 836,044 shares during the period. Engineers Gate Manager LP owned approximately 1.18% of SL Green Realty worth $38,570,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in SL Green Realty by 12.7% during the third quarter. JPMorgan Chase & Co. now owns 727,906 shares of the real estate investment trust’s stock worth $43,536,000 after purchasing an additional 81,910 shares during the period. Picton Mahoney Asset Management grew its stake in SL Green Realty by 218.2% during the third quarter. Picton Mahoney Asset Management now owns 239,012 shares of the real estate investment trust’s stock worth $14,296,000 after purchasing an additional 163,903 shares during the period. Aberdeen Group plc grew its stake in SL Green Realty by 95.8% during the third quarter. Aberdeen Group plc now owns 288,709 shares of the real estate investment trust’s stock worth $17,302,000 after purchasing an additional 141,263 shares during the period. SG Americas Securities LLC grew its stake in SL Green Realty by 63.8% during the fourth quarter. SG Americas Securities LLC now owns 80,888 shares of the real estate investment trust’s stock worth $3,710,000 after purchasing an additional 31,505 shares during the period. Finally, Levin Capital Strategies L.P. acquired a new stake in SL Green Realty during the fourth quarter worth approximately $3,588,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Stock Down 3.8%

Shares of NYSE:SLG opened at $48.88 on Thursday. The business’s 50 day simple moving average is $44.19 and its two-hundred day simple moving average is $43.03. The firm has a market cap of $3.49 billion, a P/E ratio of -19.47 and a beta of 1.61. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.03 and a current ratio of 3.03. SL Green Realty Corporation has a 52-week low of $34.77 and a 52-week high of $66.29.

SL Green Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.6175 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.47 annualized dividend and a yield of 5.1%. SL Green Realty’s dividend payout ratio is presently -98.41%.

Analysts Set New Price Targets

SLG has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on 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. Mizuho set a $38.00 price target on SL Green Realty and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Zacks Research upgraded SL Green Realty from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 25th. Citigroup cut their price target on SL Green Realty from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, March 24th. Finally, Wells Fargo & Company increased their price target on SL Green Realty from $40.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $50.90.

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.