American Assets Investment Management LLC Makes New $1.84 Million Investment in SL Green Realty Corporation $SLG

Key Points

• American Assets Investment Management disclosed a new position in SL Green Realty, buying 40,000 shares worth about $1.84 million in the fourth quarter.
• Institutional interest in SLG remains high, with institutional investors owning 89.96% of the stock and several firms recently adding or adjusting positions.
• Wall Street sentiment is mixed but leans cautious: SL Green Realty has a consensus Hold rating and an average price target of $51.15, while the stock recently traded around $45.74.

American Assets Investment Management LLC acquired a new position in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 40,000 shares of the real estate investment trust's stock, valued at approximately $1,835,000. American Assets Investment Management LLC owned 0.06% of SL Green Realty at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SLG. AQR Capital Management LLC boosted its position in shares of SL Green Realty by 74.8% in the first quarter. AQR Capital Management LLC now owns 26,883 shares of the real estate investment trust's stock valued at $1,519,000 after acquiring an additional 11,506 shares during the period. United Services Automobile Association bought a new position in shares of SL Green Realty in the first quarter worth about $253,000. Empowered Funds LLC increased its stake in shares of SL Green Realty by 10.9% in the first quarter. Empowered Funds LLC now owns 7,374 shares of the real estate investment trust's stock valued at $425,000 after buying an additional 722 shares during the period. Creative Planning acquired a new position in shares of SL Green Realty in the second quarter valued at approximately $421,000. Finally, California Public Employees Retirement System increased its position in SL Green Realty by 4.6% during the 2nd quarter. California Public Employees Retirement System now owns 131,528 shares of the real estate investment trust's stock valued at $8,142,000 after purchasing an additional 5,789 shares during the period. Institutional investors own 89.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SLG. Barclays decreased their target price on shares of SL Green Realty from $54.00 to $43.00 and set an "equal weight" rating for the company in a research report on Thursday, February 26th. The Goldman Sachs Group set a $37.00 target price on SL Green Realty and gave the stock a "sell" rating in a report on Friday, February 6th. Citigroup lowered their price target 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. JPMorgan Chase & Co. raised their target price on SL Green Realty from $49.00 to $51.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Zacks Research raised SL Green Realty from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 25th. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, SL Green Realty currently has a consensus rating of "Hold" and an average target price of $51.15.

SL Green Realty Stock Up 1.0%

Shares of NYSE SLG opened at $45.74 on Friday. SL Green Realty Corporation has a 52 week low of $34.77 and a 52 week high of $66.91. The business has a 50-day simple moving average of $39.46 and a two-hundred day simple moving average of $43.72. The company has a quick ratio of 2.66, a current ratio of 3.03 and a debt-to-equity ratio of 1.18. The company has a market cap of $3.26 billion, a P/E ratio of -18.22 and a beta of 1.60.

SL Green Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.6175 per share. This represents a $2.47 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Tuesday, March 31st. SL Green Realty's dividend payout ratio (DPR) is -98.41%.

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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