Harbor Advisors LLC Makes New $780,000 Investment in SL Green Realty Corporation $SLG

Harbor Advisors LLC acquired a new position in shares of SL Green Realty Corporation (NYSE:SLG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 17,000 shares of the real estate investment trust’s stock, valued at approximately $780,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quent Capital LLC bought a new position in SL Green Realty during the third quarter worth $27,000. Salomon & Ludwin LLC bought a new position in SL Green Realty during the third quarter worth $29,000. Whittier Trust Co. bought a new stake in shares of SL Green Realty in the third quarter valued at about $29,000. Triumph Capital Management bought a new stake in shares of SL Green Realty in the third quarter valued at about $45,000. Finally, Cornerstone Planning Group LLC boosted its position in shares of SL Green Realty by 12,114.3% in the third quarter. Cornerstone Planning Group LLC now owns 855 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 848 shares during the period. 89.96% of the stock is owned by institutional investors.

SL Green Realty Trading Down 3.4%

SLG opened at $42.34 on Thursday. SL Green Realty Corporation has a twelve month low of $34.77 and a twelve month high of $66.91. The company has a 50-day simple moving average of $38.95 and a 200 day simple moving average of $44.10. The company has a quick ratio of 2.66, a current ratio of 3.03 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -16.87 and a beta of 1.61.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.03. SL Green Realty had a negative net margin of 15.77% and a negative return on equity of 4.06%. The business had revenue of $159.82 million during the quarter, compared to analysts’ expectations of $162.73 million. During the same quarter 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. Analysts predict that SL Green Realty Corporation will post 4.65 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.6175 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.47 annualized dividend and a yield of 5.8%. SL Green Realty’s payout ratio is presently -98.41%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SLG. Piper Sandler reduced their target price on shares of SL Green Realty from $60.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Truist Financial boosted their target price on shares of SL Green Realty from $44.00 to $46.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of SL Green Realty in a research report on Wednesday, January 21st. Mizuho set a $38.00 target price on shares of SL Green Realty and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Finally, Barclays reduced their target price on shares of SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.15.

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.