Mitsubishi UFJ Asset Management Co. Ltd. Takes $3.19 Million Position in SL Green Realty Corporation $SLG

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in SL Green Realty Corporation (NYSE:SLG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 61,533 shares of the real estate investment trust’s stock, valued at approximately $3,186,000.

Other large investors have also made changes to their positions in the company. Cohen & Steers Inc. acquired a new position in shares of SL Green Realty during the fourth quarter worth approximately $121,675,000. Goldman Sachs Group Inc. boosted its position in shares of SL Green Realty by 62.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust’s stock valued at $133,862,000 after acquiring an additional 1,117,357 shares in the last quarter. Norges Bank acquired a new stake in SL Green Realty during the fourth quarter valued at approximately $44,094,000. Victory Capital Management Inc. boosted its stake in SL Green Realty by 535.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,107,618 shares of the real estate investment trust’s stock valued at $50,806,000 after buying an additional 933,272 shares in the last quarter. Finally, Engineers Gate Manager LP grew its holdings in shares of SL Green Realty by 17,417.6% in the 4th quarter. Engineers Gate Manager LP now owns 840,844 shares of the real estate investment trust’s stock worth $38,570,000 after purchasing an additional 836,044 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

SLG has been the subject of a number of recent analyst reports. Wall Street Zen cut SL Green Realty from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. UBS Group set a $60.00 price target on SL Green Realty in a report on Monday, July 27th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $60.00 price objective (up from $52.00) on shares of SL Green Realty in a research note on Monday, July 27th. Citigroup restated a “buy” rating and set a $60.00 target price (up from $45.00) on shares of SL Green Realty in a research report on Friday, July 24th. Finally, Mizuho boosted their price target on shares of SL Green Realty from $38.00 to $46.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $55.15.

SL Green Realty Stock Down 0.9%

Shares of SLG stock opened at $57.55 on Friday. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 1.05. The firm’s fifty day moving average price is $52.76 and its two-hundred day moving average price is $45.32. The firm has a market capitalization of $4.09 billion, a P/E ratio of -21.08, a PEG ratio of 2.55 and a beta of 1.58. SL Green Realty Corporation has a 1 year low of $34.77 and a 1 year high of $66.29.

SL Green Realty (NYSE:SLG) last issued 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 return on equity of 4.37% and a negative net margin of 16.92%.The firm had revenue of $264.00 million during the quarter, compared to analysts’ expectations of $179.01 million. During the same period in the prior year, the firm posted $1.63 earnings per share. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, equities analysts predict that SL Green Realty Corporation will post 5.44 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, June 30th. SL Green Realty’s dividend payout ratio is presently -90.48%.

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.