Advisors Capital Management LLC Buys Shares of 18,589 SL Green Realty Corporation $SLG

Advisors Capital Management LLC bought a new stake in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 18,589 shares of the real estate investment trust's stock, valued at approximately $962,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Triumph Capital Management purchased a new position in SL Green Realty during the third quarter valued at $45,000. Davis Capital Management purchased a new position in shares of SL Green Realty in the 1st quarter worth about $46,000. Global Retirement Partners LLC purchased a new position in shares of SL Green Realty in the 2nd quarter worth about $53,000. Fourth Dimension Wealth LLC boosted its stake in 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 purchasing an additional 500 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in SL Green Realty by 30.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust's stock worth $74,000 after purchasing an additional 378 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

SL Green Realty Stock Performance

Shares of NYSE SLG opened at $57.55 on Friday. The firm has a 50 day moving average of $52.76 and a 200 day moving average of $45.32. 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 has a market capitalization of $4.09 billion, a price-to-earnings ratio of -21.08, a price-to-earnings-growth ratio of 2.55 and a beta of 1.58. SL Green Realty Corporation has a 12-month low of $34.77 and a 12-month high of $66.29.

SL Green Realty (NYSE:SLG - Get Free Report) 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. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.37%. The business had revenue of $264.00 million for the quarter, compared to analysts' expectations of $179.01 million. During the same quarter last year, the company posted $1.63 EPS. The company's revenue was up 16.5% compared to the same quarter last year. On average, research analysts anticipate that SL Green Realty Corporation will post 5.44 earnings per share for the current year.

SL Green Realty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.6175 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.47 annualized dividend and a yield of 4.3%. SL Green Realty's payout ratio is currently -90.48%.

Wall Street Analysts Forecast Growth

SLG has been the subject of several analyst reports. Piper Sandler set a $79.00 price target on shares of SL Green Realty and gave the company an "overweight" rating in a research report on Friday, July 24th. Barclays set a $52.00 price objective on SL Green Realty and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. increased their target price on SL Green Realty from $49.00 to $51.00 and gave the company a "neutral" rating in a research note on Tuesday, May 5th. Mizuho lifted their target price on SL Green Realty from $38.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, July 21st. Finally, Wells Fargo & Company boosted their price target 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. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $55.15.

About SL Green Realty

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.

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