Deutsche Bank AG Takes $58.20 Million Position in SL Green Realty Corporation $SLG

Key Points

• Deutsche Bank acquired 1.12 million shares of SL Green Realty during the second quarter, valued at approximately $58.2 million and representing a 1.57% stake. Institutional investors collectively own nearly 90% of the REIT.
• Analyst sentiment remains mixed, with seven Buy, ten Hold, and two Sell ratings. SL Green has an average rating of Hold and an average price target of $55.15.
• SL Green reported second-quarter revenue of $264 million, exceeding estimates, while adjusted earnings still reflected a loss of $0.38 per share. The company paid a quarterly dividend of $0.6175, equivalent to a 4.2% annualized yield.

Deutsche Bank AG bought a new stake in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,124,243 shares of the real estate investment trust's stock, valued at approximately $58,202,000. Deutsche Bank AG owned about 1.57% of SL Green Realty as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of SLG. Triumph Capital Management purchased a new stake in SL Green Realty in the 3rd quarter valued at $45,000. Global Retirement Partners LLC purchased a new position in SL Green Realty during the 2nd quarter worth $53,000. Davis Capital Management bought a new stake in shares of SL Green Realty in the 1st quarter worth $46,000. Fourth Dimension Wealth LLC grew 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 in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in shares of SL Green Realty by 30.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust's stock valued at $74,000 after purchasing an additional 378 shares during the last quarter. Institutional investors own 89.96% of the company's stock.

Analyst Ratings Changes

SLG has been the topic of several analyst reports. Weiss Ratings upgraded shares of SL Green Realty from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, May 28th. Evercore lowered shares of SL Green Realty from an "outperform" rating to an "in-line" rating and set a $56.00 price objective for the company. in a research note on Monday, July 6th. Mizuho lifted their target price on shares of SL Green Realty from $38.00 to $46.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 21st. Wall Street Zen cut shares of SL Green Realty from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Finally, UBS Group set a $60.00 target price on SL Green Realty in a research note on Monday, July 27th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $55.15.

SL Green Realty Trading Up 1.1%

NYSE SLG opened at $58.30 on Friday. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of -21.36, a PEG ratio of 2.53 and a beta of 1.58. SL Green Realty Corporation has a one year low of $34.77 and a one year high of $66.29. 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's fifty day moving average is $52.63 and its 200-day moving average is $45.24.

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 analysts' consensus estimates 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 net margin of 16.92% and a negative return on equity of 4.37%. The firm's quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 EPS. Equities research analysts predict that SL Green Realty Corporation will post 5.44 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.6175 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.47 annualized dividend and a yield of 4.2%. SL Green Realty's payout ratio is currently -90.48%.

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.

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