Levin Capital Strategies L.P. Makes New $3.59 Million Investment in SL Green Realty Corporation $SLG

Key Points

• Levin Capital Strategies L.P. acquired 78,212 shares of SL Green (NYSE:SLG) in Q4—about $3.59 million, representing ~0.11% of the company, and institutional/hedge funds own roughly 89.96% of the stock.
• SL Green reported Q4 EPS of $1.13 (beat by $0.03) with revenue up 14.5% YoY to $159.8M, but still shows a negative ROE and net margin; it pays a quarterly dividend of $0.6175 ($2.47 annualized, ~5.8% yield).
• The stock opened at $42.34 with a market cap of ~$3.02B and a 12‑month range of $34.77–$66.91, while analysts’ consensus is a Hold with an average price target of $51.15.

Levin Capital Strategies L.P. acquired a new position in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 78,212 shares of the real estate investment trust's stock, valued at approximately $3,588,000. Levin Capital Strategies L.P. owned 0.11% of SL Green Realty as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Harbor Advisors LLC purchased a new position in SL Green Realty during the fourth quarter worth $780,000. Moody Aldrich Partners LLC boosted its stake in SL Green Realty by 4.7% during the fourth quarter. Moody Aldrich Partners LLC now owns 96,157 shares of the real estate investment trust's stock worth $4,411,000 after buying an additional 4,277 shares during the period. M&T Bank Corp purchased a new position in SL Green Realty during the fourth quarter worth $396,000. Sanctuary Advisors LLC boosted its stake in shares of SL Green Realty by 56.7% during the fourth quarter. Sanctuary Advisors LLC now owns 9,706 shares of the real estate investment trust's stock valued at $445,000 after purchasing an additional 3,511 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of SL Green Realty by 384.4% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 73,171 shares of the real estate investment trust's stock valued at $3,356,000 after purchasing an additional 58,067 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Stock Down 3.4%

Shares of SLG opened at $42.34 on Thursday. The company has a current ratio of 3.03, a quick ratio of 2.66 and a debt-to-equity ratio of 1.19. The firm has a fifty day moving average price of $38.95 and a 200-day moving average price of $44.10. The firm has a market capitalization of $3.02 billion, a P/E ratio of -16.87 and a beta of 1.61. SL Green Realty Corporation has a 12-month low of $34.77 and a 12-month high of $66.91.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings data on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. The firm had revenue of $159.82 million during the quarter, compared to the consensus estimate of $162.73 million. SL Green Realty had a negative return on equity of 4.06% and a negative net margin of 15.77%.The firm's quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.81 earnings per share. Equities research analysts expect that SL Green Realty Corporation will post 4.65 earnings per share for the current year.

SL Green Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.6175 dividend. This represents a $2.47 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Tuesday, March 31st. SL Green Realty's payout ratio is presently -98.41%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SLG. Mizuho set a $38.00 target price on shares of SL Green Realty and gave the company a "neutral" rating in a research note on Tuesday, February 24th. Zacks Research raised shares of SL Green Realty from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 25th. Morgan Stanley lowered their target price on shares of SL Green Realty from $43.00 to $36.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 31st. Scotiabank set a $52.00 target price on shares of SL Green Realty and gave the company a "sector outperform" rating in a research note on Friday, March 13th. Finally, Citigroup lowered their target price on shares of SL Green Realty from $55.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, March 24th. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, SL Green Realty presently has an average rating of "Hold" and a consensus price target of $51.15.

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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