Nan Fung Trinity HK Ltd. Purchases New Stake in SL Green Realty Corporation $SLG

Key Points

• Nan Fung Trinity HK Ltd. bought a new stake in SL Green Realty during the fourth quarter, acquiring 135,823 shares valued at about $6.23 million. The filing shows it now owns roughly 0.19% of the REIT.
• Institutional investors remain heavily involved in SLG, with hedge funds and other institutions owning about 89.96% of the company. Several firms, including M&T Bank and Hudson Bay Capital, also recently boosted or initiated positions.
• SL Green Realty is trading around $45.74 and pays a quarterly dividend of $0.6175, equal to an annualized yield of about 5.4%. Analysts currently have a mixed view, with an overall Hold rating and an average price target of $51.15.

Nan Fung Trinity HK Ltd. purchased a new stake in SL Green Realty Corporation (NYSE:SLG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 135,823 shares of the real estate investment trust's stock, valued at approximately $6,230,000. Nan Fung Trinity HK Ltd. owned about 0.19% of SL Green Realty as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in SLG. M&T Bank Corp acquired a new stake in shares of SL Green Realty in the fourth quarter valued at approximately $43,201,000. Hudson Bay Capital Management LP increased its holdings in shares of SL Green Realty by 51.6% in the third quarter. Hudson Bay Capital Management LP now owns 1,460,373 shares of the real estate investment trust's stock valued at $87,345,000 after purchasing an additional 497,040 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of SL Green Realty by 663.4% in the second quarter. Balyasny Asset Management L.P. now owns 513,556 shares of the real estate investment trust's stock valued at $31,789,000 after purchasing an additional 446,283 shares during the last quarter. BROOKFIELD Corp ON acquired a new stake in shares of SL Green Realty in the second quarter valued at approximately $18,695,000. Finally, Clough Capital Partners L P acquired a new stake in shares of SL Green Realty in the second quarter valued at approximately $11,146,000. Institutional investors and hedge funds own 89.96% of the company's stock.

SL Green Realty Price Performance

SLG stock opened at $45.74 on Friday. The business has a fifty day moving average of $39.46 and a two-hundred day 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 stock has a market cap of $3.26 billion, a price-to-earnings ratio of -18.22 and a beta of 1.60. SL Green Realty Corporation has a 52-week low of $34.77 and a 52-week high of $66.91.

SL Green Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.6175 dividend. The ex-dividend date of this dividend 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 payout ratio is presently -98.41%.

Analysts Set New Price Targets

Several equities research analysts recently commented on SLG shares. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of SL Green Realty in a report on Wednesday, January 21st. Mizuho set a $38.00 price target on SL Green Realty and gave the company a "neutral" rating in a report on Tuesday, February 24th. The Goldman Sachs Group set a $37.00 target price on SL Green Realty and gave the stock a "sell" rating in a research note on Friday, February 6th. Barclays cut their target price on SL Green Realty from $54.00 to $43.00 and set an "equal weight" rating for the company in a research note on Thursday, February 26th. Finally, Evercore reissued an "outperform" rating and set a $46.00 target price on shares of SL Green Realty in a research note on Friday, April 17th. 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 company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average 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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