SL Green Realty Corporation $SLG Stake Boosted by Royal Bank of Canada

Royal Bank of Canada boosted its stake in shares of SL Green Realty Corporation (NYSE:SLG) by 903.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 142,614 shares of the real estate investment trust’s stock after purchasing an additional 128,400 shares during the quarter. Royal Bank of Canada’s holdings in SL Green Realty were worth $5,268,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Triumph Capital Management purchased a new position in shares of SL Green Realty in the third quarter worth approximately $45,000. Davis Capital Management purchased a new stake in shares of SL Green Realty in the 1st quarter valued at approximately $46,000. Fourth Dimension Wealth LLC lifted its position in shares of SL Green Realty by 45.5% in the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 500 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in SL Green Realty by 30.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 378 shares during the period. Finally, Leonteq Securities AG boosted its stake in SL Green Realty by 4,194.0% in the 1st quarter. Leonteq Securities AG now owns 2,147 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 2,097 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Stock Up 1.2%

SLG stock opened at $56.40 on Thursday. The company has a 50 day moving average of $51.73 and a two-hundred day moving average of $44.71. The company has a market cap of $4.03 billion, a price-to-earnings ratio of -20.66, a PEG ratio of 2.45 and a beta of 1.58. SL Green Realty Corporation has a 12-month low of $34.77 and a 12-month high of $66.29. The company has a quick ratio of 3.10, a current ratio of 3.10 and a debt-to-equity ratio of 1.05.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.21. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.37%. The business had revenue of $264.00 million for the quarter, compared to analysts’ expectations of $179.01 million. During the same period in the previous year, the company posted $1.63 EPS. SL Green Realty’s revenue was up 16.5% on a year-over-year basis. On average, equities analysts anticipate that SL Green Realty Corporation will post 5.44 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on SLG. BMO Capital Markets reissued an “outperform” rating and set a $60.00 target price (up from $52.00) on shares of SL Green Realty in a research note on Monday, July 27th. Morgan Stanley set a $52.00 target price on SL Green Realty and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Citigroup reiterated a “buy” rating and set a $60.00 price target (up from $45.00) on shares of SL Green Realty in a report on Friday, July 24th. Wall Street Zen lowered SL Green Realty from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings raised SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $55.15.

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.