Goldman Sachs Group Inc. Increases Stake in SL Green Realty Corporation $SLG

Goldman Sachs Group Inc. raised its position in SL Green Realty Corporation (NYSE:SLG) by 62.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,918,292 shares of the real estate investment trust’s stock after purchasing an additional 1,117,357 shares during the period. Goldman Sachs Group Inc. owned 4.09% of SL Green Realty worth $133,862,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLG. Triumph Capital Management purchased a new position in SL Green Realty in the 3rd quarter valued at $45,000. State of Wyoming purchased a new position in SL Green Realty in the 3rd quarter valued at $68,000. Fourth Dimension Wealth LLC increased its stake 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 worth $73,000 after acquiring an additional 500 shares during the last quarter. 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 worth $74,000 after acquiring an additional 885 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of SL Green Realty by 107.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,644 shares of the real estate investment trust’s stock worth $98,000 after acquiring an additional 853 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Evercore reaffirmed an “outperform” rating and issued a $50.00 target price on shares of SL Green Realty in a research note on Monday. Scotiabank reaffirmed an “outperform” rating on shares of SL Green Realty in a research note on Thursday, May 21st. JPMorgan Chase & Co. raised their target price on SL Green Realty from $49.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Zacks Research raised SL Green Realty from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. Finally, Truist Financial raised their target price on SL Green Realty from $44.00 to $46.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, SL Green Realty currently has a consensus rating of “Hold” and a consensus target price of $50.90.

SL Green Realty Stock Performance

Shares of SL Green Realty stock opened at $48.97 on Tuesday. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of -19.51 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 $42.14 and a 200 day moving average of $42.76. SL Green Realty Corporation has a 12 month low of $34.77 and a 12 month high of $66.91.

SL Green Realty Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Tuesday, March 31st. SL Green Realty’s payout ratio is currently -98.41%.

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.