Mitsubishi UFJ Asset Management Co. Ltd. Buys Shares of 61,533 SL Green Realty Corporation $SLG

Key Points

• Mitsubishi UFJ Asset Management bought 61,533 shares of SL Green Realty worth approximately $3.19 million, giving it a 0.09% stake. Institutional investors collectively own nearly 90% of the REIT.
• SL Green reported quarterly revenue of $264 million, up 16.5% year over year, and an adjusted loss of $0.38 per share that beat analysts’ $0.59-loss estimate.
• The company pays a quarterly dividend of $0.6175 per share, or $2.47 annually, representing a 4.3% yield. Analysts’ consensus rating is “Hold,” with an average price target of $55.15.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 61,533 shares of the real estate investment trust's stock, valued at approximately $3,186,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.09% of SL Green Realty at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SLG. State Street Corp lifted its holdings in SL Green Realty by 1.0% in the 2nd quarter. State Street Corp now owns 4,257,874 shares of the real estate investment trust's stock valued at $264,636,000 after purchasing an additional 41,873 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of SL Green Realty by 25.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,041,226 shares of the real estate investment trust's stock valued at $139,501,000 after purchasing an additional 617,488 shares during the period. Goldman Sachs Group Inc. increased its position in shares of SL Green Realty by 62.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust's stock worth $133,862,000 after acquiring an additional 1,117,357 shares during the last quarter. Cohen & Steers Inc. purchased a new stake in SL Green Realty during the 4th quarter worth approximately $121,675,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of SL Green Realty by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,561,121 shares of the real estate investment trust's stock worth $71,609,000 after buying an additional 32,779 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

SL Green Realty Price Performance

SLG opened at $57.55 on Friday. The stock has a fifty day moving average of $52.76 and a 200-day moving average of $45.32. The firm has a market capitalization of $4.09 billion, a P/E ratio of -21.08, a PEG ratio of 2.55 and a beta of 1.58. The company has a quick ratio of 3.10, a current ratio of 3.10 and a debt-to-equity ratio of 1.05. 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 announced its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported ($0.38) EPS for the quarter, topping analysts' consensus estimates of ($0.59) by $0.21. The firm had revenue of $264.00 million during the quarter, compared to analyst estimates of $179.01 million. SL Green Realty had a negative return on equity of 4.37% and a negative net margin of 16.92%.The business's quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the company posted $1.63 EPS. Equities analysts forecast that SL Green Realty Corporation will post 5.44 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.6175 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.47 dividend on an annualized basis and a yield of 4.3%. SL Green Realty's dividend payout ratio (DPR) is presently -90.48%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup restated a "buy" rating and set a $60.00 price objective (up from $45.00) on shares of SL Green Realty in a research note on Friday, July 24th. Barclays set a $52.00 target price on shares of SL Green Realty and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. 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 report on Monday, June 1st. LADENBURG THALM/SH SH increased their price objective on shares of SL Green Realty from $42.00 to $46.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Finally, Evercore lowered SL Green Realty from an "outperform" rating to an "in-line" rating and set a $56.00 target price on the stock. in a report on Monday, July 6th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, SL Green Realty currently has a consensus rating of "Hold" and a consensus price target of $55.15.

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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