Cohen & Steers Inc. Buys New Position in SL Green Realty Corporation $SLG

Cohen & Steers Inc. bought a new stake in SL Green Realty Corporation (NYSE:SLG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,652,341 shares of the real estate investment trust’s stock, valued at approximately $121,675,000. Cohen & Steers Inc. owned approximately 3.72% of SL Green Realty as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wealthspire Advisors LLC grew its position in SL Green Realty by 7,331.4% in the 4th quarter. Wealthspire Advisors LLC now owns 26,307 shares of the real estate investment trust’s stock valued at $1,207,000 after buying an additional 25,953 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its position in SL Green Realty by 27.6% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 5,749 shares of the real estate investment trust’s stock valued at $264,000 after buying an additional 1,242 shares in the last quarter. DRW Securities LLC bought a new position in SL Green Realty in the 4th quarter valued at about $229,000. Cibc World Markets Corp bought a new position in SL Green Realty in the 4th quarter valued at about $218,000. Finally, Commonwealth Equity Services LLC grew its position in SL Green Realty by 3.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 30,136 shares of the real estate investment trust’s stock valued at $1,382,000 after buying an additional 927 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

SLG has been the subject of a number of recent analyst reports. Scotiabank reiterated an “outperform” rating on shares of SL Green Realty in a research report on Thursday, May 21st. Morgan Stanley reduced their price objective on shares of SL Green Realty from $43.00 to $36.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Truist Financial raised their price objective 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. Evercore restated an “outperform” rating and set a $50.00 price objective on shares of SL Green Realty in a research report on Monday. Finally, Barclays reduced their price objective 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 research 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 stock currently has a consensus rating of “Hold” and a consensus price target of $50.90.

SL Green Realty Price Performance

NYSE SLG opened at $51.12 on Friday. The company has a 50 day simple moving average of $43.35 and a 200-day simple moving average of $42.98. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 3.03. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of -20.36 and a beta of 1.61. SL Green Realty Corporation has a 52-week low of $34.77 and a 52-week high of $66.37.

SL Green Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Tuesday, March 31st. SL Green Realty’s dividend payout ratio is -98.41%.

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.