Legal & General Group Plc Has $26.66 Million Stake in SL Green Realty Corporation $SLG

Legal & General Group Plc raised its position in shares of SL Green Realty Corporation (NYSE:SLG) by 9.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 581,130 shares of the real estate investment trust’s stock after buying an additional 49,775 shares during the quarter. Legal & General Group Plc’s holdings in SL Green Realty were worth $26,656,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Triumph Capital Management acquired a new position in shares of SL Green Realty in the 3rd quarter valued at about $45,000. Cornerstone Planning Group LLC lifted its stake in SL Green Realty by 12,114.3% in the third quarter. Cornerstone Planning Group LLC now owns 855 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 848 shares during the period. State of Wyoming bought a new position in shares of SL Green Realty during the 3rd quarter worth approximately $68,000. Fourth Dimension Wealth LLC grew its position in shares of SL Green Realty by 45.5% during the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 500 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in shares of SL Green Realty by 252.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,235 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 885 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Stock Down 0.1%

Shares of NYSE SLG opened at $45.34 on Monday. The stock has a market capitalization of $3.24 billion, a P/E ratio of -18.06 and a beta of 1.61. The company has a 50-day moving average price of $41.13 and a 200-day moving average price of $42.81. SL Green Realty Corporation has a 1 year low of $34.77 and a 1 year high of $66.91. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 3.03.

SL Green Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Tuesday, March 31st. SL Green Realty’s dividend payout ratio is presently -98.41%.

Analyst Upgrades and Downgrades

SLG has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of SL Green Realty from $49.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft upgraded SL Green Realty from a “hold” rating to a “buy” rating and reduced their target price for the company from $45.00 to $44.00 in a research note on Wednesday, March 18th. Barclays dropped their price target on SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 26th. Truist Financial raised their price objective on SL Green Realty from $44.00 to $46.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. Finally, The Goldman Sachs Group set a $37.00 target price on SL Green Realty and gave the stock a “sell” rating in a research report on Friday, February 6th. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $51.20.

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.