Harbor Advisors LLC Makes New $780,000 Investment in SL Green Realty Corporation $SLG

Harbor Advisors LLC bought a new position in shares of SL Green Realty Corporation (NYSE:SLG) in the 4th quarter, HoldingsChannel.com reports. The fund bought 17,000 shares of the real estate investment trust’s stock, valued at approximately $780,000.

Several other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in shares of SL Green Realty by 12.7% in the third quarter. JPMorgan Chase & Co. now owns 727,906 shares of the real estate investment trust’s stock valued at $43,536,000 after buying an additional 81,910 shares during the period. Y Intercept Hong Kong Ltd increased its stake in shares of SL Green Realty by 282.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 52,986 shares of the real estate investment trust’s stock valued at $3,169,000 after buying an additional 39,135 shares during the period. Picton Mahoney Asset Management increased its stake in shares of SL Green Realty by 218.2% in the third quarter. Picton Mahoney Asset Management now owns 239,012 shares of the real estate investment trust’s stock valued at $14,296,000 after buying an additional 163,903 shares during the period. Strs Ohio increased its stake in shares of SL Green Realty by 78.6% in the third quarter. Strs Ohio now owns 138,800 shares of the real estate investment trust’s stock valued at $8,302,000 after buying an additional 61,100 shares during the period. Finally, Aberdeen Group plc increased its stake in shares of SL Green Realty by 95.8% in the third quarter. Aberdeen Group plc now owns 288,709 shares of the real estate investment trust’s stock valued at $17,302,000 after buying an additional 141,263 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays lowered their price objective on SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Morgan Stanley reduced their target price on SL Green Realty from $43.00 to $36.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Weiss Ratings reiterated a “sell (d+)” rating on shares of SL Green Realty in a report on Wednesday, January 21st. Evercore reiterated an “outperform” rating and issued a $46.00 target price on shares of SL Green Realty in a report on Friday, April 17th. Finally, BTIG Research reduced their target price on SL Green Realty from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Eight equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.15.

SL Green Realty Price Performance

SL Green Realty stock opened at $42.34 on Thursday. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -16.87 and a beta of 1.61. SL Green Realty Corporation has a 52-week low of $34.77 and a 52-week high of $66.91. The stock’s 50 day moving average price is $38.95 and its two-hundred day moving average price is $44.10. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.66 and a current ratio of 3.03.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The firm had revenue of $159.82 million for the quarter, compared to analysts’ expectations of $162.73 million. SL Green Realty had a negative return on equity of 4.06% and a negative net margin of 15.77%.The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.81 EPS. On average, equities analysts predict that SL Green Realty Corporation will post 4.65 earnings per share for the current year.

SL Green Realty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.6175 per share. This represents a $2.47 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Tuesday, March 31st. SL Green Realty’s dividend payout ratio is presently -98.41%.

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.