Shulman DeMeo Asset Management LLC Takes $258,000 Position in SL Green Realty Corp. (NYSE:SLG)

Shulman DeMeo Asset Management LLC bought a new stake in SL Green Realty Corp. (NYSE:SLG) during the 4th quarter, Holdings Channel reports. The firm bought 10,266 shares of the real estate investment trust’s stock, valued at approximately $258,000.

Several other institutional investors have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich raised its position in SL Green Realty by 38.2% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 760 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 210 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its position in SL Green Realty by 4.4% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 7,308 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 306 shares during the last quarter. Redpoint Investment Management Pty Ltd grew its holdings in SL Green Realty by 7.1% during the 3rd quarter. Redpoint Investment Management Pty Ltd now owns 5,467 shares of the real estate investment trust’s stock worth $254,000 after acquiring an additional 364 shares during the period. Stifel Financial Corp grew its holdings in SL Green Realty by 3.5% during the 2nd quarter. Stifel Financial Corp now owns 11,940 shares of the real estate investment trust’s stock worth $588,000 after acquiring an additional 409 shares during the period. Finally, Telos Capital Management Inc. grew its holdings in SL Green Realty by 3.3% during the 3rd quarter. Telos Capital Management Inc. now owns 13,720 shares of the real estate investment trust’s stock worth $636,000 after acquiring an additional 435 shares during the period. 99.51% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on SL Green Realty from $49.00 to $63.00 in a report on Tuesday, December 15th. Zacks Investment Research upgraded SL Green Realty from a “sell” rating to a “hold” rating and set a $50.00 price target for the company in a report on Friday, October 16th. ValuEngine upgraded SL Green Realty from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 1st. Morgan Stanley increased their price target on SL Green Realty from $47.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, December 14th. Finally, Bank of America increased their price target on SL Green Realty from $49.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, November 16th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. SL Green Realty has a consensus rating of “Hold” and an average target price of $64.07.

Shares of NYSE:SLG opened at $62.12 on Thursday. The company has a quick ratio of 6.70, a current ratio of 6.70 and a debt-to-equity ratio of 1.17. SL Green Realty Corp. has a twelve month low of $35.16 and a twelve month high of $96.39. The stock’s 50 day moving average is $59.59 and its 200-day moving average is $51.41. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 4.92 and a beta of 1.53.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, October 21st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($1.37). SL Green Realty had a return on equity of 4.21% and a net margin of 19.90%. Equities research analysts anticipate that SL Green Realty Corp. will post 6.91 earnings per share for the current fiscal year.

The company also recently announced a monthly dividend, which will be paid on Friday, January 15th. Stockholders of record on Tuesday, December 15th will be given a dividend of $2.00 per share. This represents a $24.00 dividend on an annualized basis and a dividend yield of 38.63%. This is a positive change from SL Green Realty’s previous monthly dividend of $0.30. The ex-dividend date of this dividend is Monday, December 14th. SL Green Realty’s dividend payout ratio is presently 52.00%.

SL Green Realty Profile

SL Green Realty Corp., an S&P 500 company and Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of September 30, 2020, SL Green held interests in 93 buildings totaling 40.6 million square feet.

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Institutional Ownership by Quarter for SL Green Realty (NYSE:SLG)

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