SG Americas Securities LLC Sells 19,727 Shares of SL Green Realty Corporation $SLG

SG Americas Securities LLC decreased its position in shares of SL Green Realty Corporation (NYSE:SLG) by 24.4% in the first quarter, Holdings Channel reports. The fund owned 61,161 shares of the real estate investment trust’s stock after selling 19,727 shares during the period. SG Americas Securities LLC’s holdings in SL Green Realty were worth $2,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in SLG. Triumph Capital Management acquired a new position in shares of SL Green Realty during the 3rd quarter worth about $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 lifted its holdings in shares of SL Green Realty by 45.5% during the fourth 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 during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of SL Green Realty by 30.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock worth $74,000 after buying an additional 378 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of SL Green Realty by 255.2% in the fourth quarter. Fifth Third Bancorp now owns 2,540 shares of the real estate investment trust’s stock valued at $117,000 after acquiring an additional 1,825 shares during the period. 89.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SLG shares. Citigroup lowered their price objective on shares of SL Green Realty from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, March 24th. Deutsche Bank Aktiengesellschaft upgraded shares of SL Green Realty from a “hold” rating to a “buy” rating and reduced their target price for the company from $45.00 to $44.00 in a research note on Wednesday, March 18th. Piper Sandler decreased their target price on SL Green Realty from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Scotiabank reiterated an “outperform” rating on shares of SL Green Realty in a research note on Thursday, May 21st. Finally, Evercore reaffirmed an “outperform” rating and set a $50.00 price objective on shares of SL Green Realty in a report on Monday, June 8th. Eight analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, SL Green Realty has a consensus rating of “Hold” and a consensus price target of $50.90.

SL Green Realty Stock Up 0.9%

NYSE SLG opened at $52.23 on Thursday. The stock’s 50 day simple moving average is $46.35 and its 200 day simple moving average is $43.48. SL Green Realty Corporation has a one year low of $34.77 and a one year high of $66.29. The firm has a market cap of $3.73 billion, a PE ratio of -20.81 and a beta of 1.58. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 3.03.

SL Green Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.6175 per share. This represents a $2.47 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Tuesday, June 30th. SL Green Realty’s dividend payout ratio is presently -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.