SL Green Realty Corporation $SLG Holdings Decreased by Aberdeen Group plc

Key Points

• Aberdeen Group cut its stake in SL Green by 89.8% in Q4, selling 259,392 shares and retaining 29,317 shares worth about $1.345 million.
• SL Green declared a quarterly dividend of $0.6175 (annualized $2.47), implying a 6.5% yield; the ex-dividend date is March 31 and the payment date is April 15.
• The analyst consensus is a "Hold" with a $51.45 average price target (8 Buy / 9 Hold / 2 Sell), indicating mixed sentiment among brokers.

Aberdeen Group plc trimmed its position in SL Green Realty Corporation (NYSE:SLG - Free Report) by 89.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,317 shares of the real estate investment trust's stock after selling 259,392 shares during the quarter. Aberdeen Group plc's holdings in SL Green Realty were worth $1,345,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in SL Green Realty by 12.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 727,906 shares of the real estate investment trust's stock worth $43,536,000 after buying an additional 81,910 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in SL Green Realty by 282.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 52,986 shares of the real estate investment trust's stock worth $3,169,000 after buying an additional 39,135 shares during the last quarter. Picton Mahoney Asset Management grew its stake in SL Green Realty by 218.2% during the 3rd quarter. Picton Mahoney Asset Management now owns 239,012 shares of the real estate investment trust's stock worth $14,296,000 after buying an additional 163,903 shares during the last quarter. Strs Ohio grew its stake in shares of SL Green Realty by 78.6% in the third quarter. Strs Ohio now owns 138,800 shares of the real estate investment trust's stock worth $8,302,000 after purchasing an additional 61,100 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of SL Green Realty by 91.1% in the second quarter. Daiwa Securities Group Inc. now owns 188,458 shares of the real estate investment trust's stock worth $11,666,000 after purchasing an additional 89,825 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Mizuho set a $38.00 price target on SL Green Realty and gave the stock a "neutral" rating in a research note on Tuesday, February 24th. The Goldman Sachs Group set a $37.00 price target on SL Green Realty and gave the stock a "sell" rating in a research note on Friday, February 6th. LADENBURG THALM/SH SH decreased their price target on SL Green Realty from $60.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, December 18th. Deutsche Bank Aktiengesellschaft upgraded SL Green Realty from a "hold" rating to a "buy" rating and cut their price objective for the company from $45.00 to $44.00 in a report on Wednesday, March 18th. Finally, Scotiabank set a $52.00 price objective on SL Green Realty and gave the company a "sector outperform" rating in a report on Friday, March 13th. Eight investment analysts have rated the stock with a Buy rating, nine 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 an average rating of "Hold" and a consensus price target of $51.45.

SL Green Realty Trading Down 2.2%

Shares of NYSE SLG opened at $37.75 on Friday. SL Green Realty Corporation has a 12 month low of $34.77 and a 12 month high of $66.91. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -23.45 and a beta of 1.61. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 1.05. The business has a fifty day simple moving average of $38.86 and a 200-day simple moving average of $45.91.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 EPS for the quarter, beating the consensus estimate of $1.10 by $0.03. SL Green Realty had a negative return on equity of 2.44% and a negative net margin of 9.66%.The business had revenue of $159.82 million during the quarter, compared to the consensus estimate of $162.73 million. During the same period in the prior year, the business posted $1.81 earnings per share. SL Green Realty's revenue was up 14.5% compared to the same quarter last year. Sell-side analysts predict that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.6175 dividend. This represents a $2.47 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Tuesday, March 31st. SL Green Realty's dividend payout ratio is currently -153.42%.

SL Green Realty 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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