Jupiter Asset Management Ltd. purchased a new position in shares of SL Green Realty Corp. (NYSE:SLG) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 3,189 shares of the real estate investment trust’s stock, valued at approximately $255,000.
Several other hedge funds also recently bought and sold shares of the stock. Marshall Wace North America L.P. acquired a new stake in SL Green Realty in the first quarter valued at approximately $72,000. The Manufacturers Life Insurance Company lifted its stake in SL Green Realty by 9.7% in the first quarter. The Manufacturers Life Insurance Company now owns 78,063 shares of the real estate investment trust’s stock valued at $5,464,000 after acquiring an additional 6,914 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of SL Green Realty in the first quarter worth $791,000. Envestnet Asset Management Inc. acquired a new stake in shares of SL Green Realty in the first quarter worth $3,881,000. Finally, Natixis Advisors L.P. acquired a new stake in shares of SL Green Realty in the first quarter worth $721,000. Institutional investors and hedge funds own 87.11% of the company’s stock.
Shares of SL Green Realty stock opened at $68.19 on Wednesday. The firm has a market capitalization of $4.73 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 3.44 and a beta of 1.63. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.79 and a quick ratio of 2.79. The company’s fifty day moving average price is $73.06 and its two-hundred day moving average price is $74.59. SL Green Realty Corp. has a 52-week low of $40.47 and a 52-week high of $85.65.
The company also recently announced a monthly dividend, which will be paid on Wednesday, September 15th. Stockholders of record on Tuesday, August 31st will be issued a $0.303 dividend. This represents a $3.64 annualized dividend and a dividend yield of 5.33%. The ex-dividend date is Monday, August 30th. SL Green Realty’s payout ratio is 51.20%.
SLG has been the subject of a number of analyst reports. Barclays initiated coverage on shares of SL Green Realty in a research note on Wednesday, September 1st. They issued an “overweight” rating and a $81.00 price objective for the company. Wolfe Research initiated coverage on shares of SL Green Realty in a research note on Monday, June 14th. They issued a “peer perform” rating and a $90.00 price objective for the company. Piper Sandler boosted their price objective on shares of SL Green Realty from $75.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, June 14th. Morgan Stanley boosted their price objective on shares of SL Green Realty from $68.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, July 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of SL Green Realty from $66.00 to $77.00 and gave the stock a “hold” rating in a research report on Friday, June 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $71.90.
SL Green Realty Profile
SL Green Realty Corp. operates as a real estate investment trust. The firm engages in the acquisition, development, ownership, management and operation of commercial and residential real estate properties. It operates through the Real Estate, and Debt & Preferred Equity Investments business segments.
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