Clear Harbor Asset Management LLC Buys Shares of 13,870 SL Green Realty Corporation $SLG

Clear Harbor Asset Management LLC purchased a new position in shares of SL Green Realty Corporation (NYSE:SLG) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 13,870 shares of the real estate investment trust’s stock, valued at approximately $636,000.

A number of other institutional investors and hedge funds have also modified their holdings of SLG. State Street Corp lifted its holdings in SL Green Realty by 1.0% in the second quarter. State Street Corp now owns 4,257,874 shares of the real estate investment trust’s stock valued at $264,636,000 after buying an additional 41,873 shares during the period. Northern Trust Corp grew its holdings in SL Green Realty by 3.7% during the 3rd quarter. Northern Trust Corp now owns 1,543,987 shares of the real estate investment trust’s stock worth $92,346,000 after acquiring an additional 54,890 shares during the period. Hudson Bay Capital Management LP grew its holdings in SL Green Realty by 51.6% during the 3rd quarter. Hudson Bay Capital Management LP now owns 1,460,373 shares of the real estate investment trust’s stock worth $87,345,000 after acquiring an additional 497,040 shares during the period. Dimensional Fund Advisors LP raised its position in shares of SL Green Realty by 2.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,060,037 shares of the real estate investment trust’s stock valued at $63,401,000 after acquiring an additional 25,743 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of SL Green Realty during the 4th quarter valued at $44,094,000. 89.96% of the stock is owned by institutional investors.

SL Green Realty Stock Up 1.0%

Shares of SL Green Realty stock opened at $45.18 on Wednesday. The company has a market capitalization of $3.23 billion, a P/E ratio of -18.00 and a beta of 1.61. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 3.03. The business has a 50-day moving average of $41.23 and a two-hundred day moving average of $42.77. SL Green Realty Corporation has a 1 year low of $34.77 and a 1 year high of $66.91.

SL Green Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a dividend of $0.6175 per share. This represents a $2.47 dividend on an annualized basis and a yield of 5.5%. 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

Several research firms have recently issued reports on SLG. BTIG Research reduced their price target on SL Green Realty from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Weiss Ratings raised SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Citigroup decreased their target price on SL Green Realty from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, March 24th. Morgan Stanley cut their price target on shares of SL Green Realty from $43.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Finally, Scotiabank restated an “outperform” rating on shares of SL Green Realty in a report on Thursday, May 21st. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.70.

SL Green Realty 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.