OVERSEA CHINESE BANKING Corp Ltd Buys New Shares in SL Green Realty Corporation $SLG

Key Points

• Oversea-Chinese Banking Corp. Ltd. purchased 36,858 shares of SL Green Realty in the second quarter, valued at approximately $1.9 million. Institutional investors and hedge funds collectively own 89.96% of the REIT.
• Analysts maintain a broadly neutral view, with seven Buy, ten Hold, and two Sell ratings. The average price target is $55.15, below SLG’s reported opening price of $58.30.
• SL Green reported quarterly revenue of $264 million, up 16.5% year over year, and a loss of $0.38 per share that beat estimates. The company maintains a quarterly dividend of $0.6175, equivalent to an annualized yield of about 4.2%.

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in SL Green Realty Corporation (NYSE:SLG - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 36,858 shares of the real estate investment trust's stock, valued at approximately $1,908,000. OVERSEA CHINESE BANKING Corp Ltd owned 0.05% of SL Green Realty at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of SL Green Realty in the second quarter valued at about $706,881,000. State Street Corp increased its stake in SL Green Realty by 1.0% during the second quarter. State Street Corp now owns 4,257,874 shares of the real estate investment trust's stock valued at $264,636,000 after acquiring an additional 41,873 shares during the period. Alyeska Investment Group L.P. raised its holdings in SL Green Realty by 25.5% in the 4th 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 acquiring an additional 617,488 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in SL Green Realty by 62.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust's stock valued at $133,862,000 after acquiring an additional 1,117,357 shares in the last quarter. Finally, Cohen & Steers Inc. bought a new stake in shares of SL Green Realty in the 4th quarter worth approximately $121,675,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SLG. Barclays set a $52.00 price objective on SL Green Realty and gave the stock an "equal weight" rating in a report on Tuesday, July 21st. Morgan Stanley set a $52.00 target price on SL Green Realty and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. Evercore cut SL Green Realty from an "outperform" rating to an "in-line" rating and set a $56.00 target price for the company. in a research report on Monday, July 6th. BMO Capital Markets reiterated an "outperform" rating and set a $60.00 price target (up from $52.00) on shares of SL Green Realty in a research note on Monday, July 27th. Finally, Mizuho boosted their price target on shares of SL Green Realty from $38.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, SL Green Realty presently has an average rating of "Hold" and an average target price of $55.15.

SL Green Realty Stock Up 1.1%

NYSE SLG opened at $58.30 on Friday. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 1.05. The stock's 50 day moving average is $52.63 and its two-hundred day moving average is $45.24. The company 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 1-year low of $34.77 and a 1-year high of $66.29.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.21. SL Green Realty had a negative return on equity of 4.37% and a negative net margin of 16.92%.The company had revenue of $264.00 million for the quarter, compared to analyst estimates of $179.01 million. During the same period in the prior year, the company posted $1.63 EPS. The company's revenue was up 16.5% compared to the same quarter last year. Equities analysts forecast that SL Green Realty Corporation will post 5.44 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

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

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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