SL Green Realty Corporation $SLG Shares Acquired by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its SL Green Realty stake by 903.3% in the first quarter, owning 142,614 shares worth approximately $5.27 million. Institutional investors and hedge funds collectively own 89.96% 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 analyst expectations. Analysts project full-year EPS of $5.44.
• The company maintains a quarterly dividend of $0.6175 per share, equivalent to an annualized $2.47 payout and a 4.4% yield. Analysts’ average rating is “Hold,” with an average price target of $55.15.

Royal Bank of Canada raised its position in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) by 903.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 142,614 shares of the real estate investment trust's stock after purchasing an additional 128,400 shares during the period. Royal Bank of Canada owned 0.20% of SL Green Realty worth $5,268,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Triumph Capital Management bought a new stake in shares of SL Green Realty during the third quarter valued at approximately $45,000. Davis Capital Management bought a new position in SL Green Realty in the 1st quarter worth approximately $46,000. Fourth Dimension Wealth LLC grew its holdings in SL Green Realty by 45.5% in the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust's stock worth $73,000 after buying an additional 500 shares in the last quarter. Hantz Financial Services Inc. increased its position in SL Green Realty by 30.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust's stock valued at $74,000 after acquiring an additional 378 shares during the period. Finally, Leonteq Securities AG increased its position in SL Green Realty by 4,194.0% in the 1st quarter. Leonteq Securities AG now owns 2,147 shares of the real estate investment trust's stock valued at $79,000 after acquiring an additional 2,097 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Stock Performance

Shares of SLG opened at $56.40 on Thursday. The firm's 50 day moving average is $51.73 and its 200-day moving average is $44.71. The stock has a market capitalization of $4.03 billion, a P/E ratio of -20.66, a P/E/G ratio of 2.45 and a beta of 1.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.10 and a quick ratio of 3.10. 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 released its earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.21. The business had revenue of $264.00 million during the quarter, compared to analyst estimates of $179.01 million. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.37%. The business's quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.63 earnings per share. Equities research analysts anticipate that SL Green Realty Corporation will post 5.44 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.6175 per share. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, June 30th. SL Green Realty's dividend payout ratio is -90.48%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SLG shares. BMO Capital Markets reissued an "outperform" rating and issued a $60.00 price target (up from $52.00) on shares of SL Green Realty in a research note on Monday, July 27th. 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. Morgan Stanley set a $52.00 price objective on shares of SL Green Realty and gave the stock an "equal weight" rating in a report on Wednesday, July 22nd. Scotiabank increased their target price on shares of SL Green Realty from $56.00 to $60.00 and gave the company a "sector outperform" rating in a research report on Wednesday, August 5th. Finally, UBS Group set a $60.00 target price on shares of SL Green Realty in a research note on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, SL Green Realty currently has an average rating of "Hold" and an average target price of $55.15.

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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