Hosking Partners LLP Acquires 45,337 Shares of SL Green Realty Corporation $SLG

Key Points

• Hosking Partners LLP increased its stake in SL Green Realty by 18.5% in the fourth quarter, buying 45,337 additional shares. The fund now holds 290,166 shares worth about $13.31 million.
• Institutional ownership remains high, with hedge funds and other investors actively adjusting positions in SL Green Realty. The article notes that institutions own 89.96% of the company’s stock.
• Wall Street sentiment is mixed, with analysts assigning an average rating of “Hold” and a consensus price target of $51.15. Recent target cuts reflect some caution, even as several firms still rate the stock a Buy or Overweight.

Hosking Partners LLP lifted its holdings in SL Green Realty Corporation (NYSE:SLG - Free Report) by 18.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 290,166 shares of the real estate investment trust's stock after acquiring an additional 45,337 shares during the period. Hosking Partners LLP owned 0.41% of SL Green Realty worth $13,310,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in shares of SL Green Realty by 74.8% during the first quarter. AQR Capital Management LLC now owns 26,883 shares of the real estate investment trust's stock worth $1,519,000 after acquiring an additional 11,506 shares during the last quarter. United Services Automobile Association bought a new position in SL Green Realty during the first quarter valued at $253,000. Empowered Funds LLC lifted its stake in shares of SL Green Realty by 10.9% in the 1st quarter. Empowered Funds LLC now owns 7,374 shares of the real estate investment trust's stock valued at $425,000 after purchasing an additional 722 shares during the last quarter. Creative Planning bought a new stake in shares of SL Green Realty in the 2nd quarter worth about $421,000. Finally, California Public Employees Retirement System lifted its holdings in shares of SL Green Realty by 4.6% in the 2nd quarter. California Public Employees Retirement System now owns 131,528 shares of the real estate investment trust's stock worth $8,142,000 after acquiring an additional 5,789 shares during the last quarter. Institutional investors own 89.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SLG shares. Piper Sandler decreased their price target on SL Green Realty from $60.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, April 1st. BTIG Research decreased their price objective on shares of SL Green Realty from $75.00 to $70.00 and set a "buy" rating for the company in a report on Thursday, February 5th. Barclays decreased their price objective on shares of SL Green Realty from $54.00 to $43.00 and set an "equal weight" rating for the company in a report on Thursday, February 26th. Zacks Research upgraded shares of SL Green Realty from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 25th. Finally, Mizuho set a $38.00 price objective on shares of SL Green Realty and gave the company a "neutral" rating in a report on Tuesday, February 24th. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $51.15.

SL Green Realty Trading Down 0.0%

NYSE:SLG opened at $45.74 on Monday. SL Green Realty Corporation has a one year low of $34.77 and a one year high of $66.91. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.03 and a current ratio of 3.03. The firm has a market cap of $3.26 billion, a P/E ratio of -18.22 and a beta of 1.60. The firm has a 50-day simple moving average of $39.46 and a 200-day simple moving average of $43.72.

SL Green Realty Dividend Announcement

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

SL Green Realty Company 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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