Clear Harbor Asset Management LLC Purchases Shares of 39,463 SL Green Realty Corporation $SLG

Clear Harbor Asset Management LLC purchased a new stake in SL Green Realty Corporation (NYSE:SLG) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 39,463 shares of the real estate investment trust’s stock, valued at approximately $2,043,000. Clear Harbor Asset Management LLC owned 0.06% of SL Green Realty as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in SLG. BlackRock Inc. acquired a new stake in SL Green Realty in the 2nd quarter valued at approximately $706,881,000. State Street Corp lifted its stake in SL Green Realty by 1.0% during the second quarter. State Street Corp now owns 4,257,874 shares of the real estate investment trust’s stock worth $264,636,000 after purchasing an additional 41,873 shares in the last quarter. Alyeska Investment Group L.P. boosted its position in shares of SL Green Realty by 25.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 3,041,226 shares of the real estate investment trust’s stock worth $139,501,000 after buying an additional 617,488 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of SL Green Realty by 62.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust’s stock worth $133,862,000 after buying an additional 1,117,357 shares during the period. Finally, Cohen & Steers Inc. acquired a new stake in shares of SL Green Realty in the fourth quarter valued at $121,675,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Trading Down 0.9%

SLG opened at $57.55 on Friday. SL Green Realty Corporation has a 12 month low of $34.77 and a 12 month high of $66.29. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of -21.08, a PEG ratio of 2.52 and a beta of 1.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.10 and a quick ratio of 3.10. The business has a fifty day moving average price of $52.76 and a 200 day moving average price of $45.32.

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

SL Green Realty Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SLG. Wells Fargo & Company increased their target price on SL Green Realty from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Evercore lowered shares of SL Green Realty from an “outperform” rating to an “in-line” rating and set a $56.00 price target on the stock. in a research note on Monday, July 6th. JPMorgan Chase & Co. increased their price target on shares of SL Green Realty from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Scotiabank raised their price objective on shares of SL Green Realty from $56.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Wednesday, August 5th. Finally, Piper Sandler set a $79.00 target price on shares of SL Green Realty and gave the stock an “overweight” rating in a research note on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $55.15.

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.