UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $24.88 Million Stake in SL Green Realty Corporation $SLG

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of SL Green Realty Corporation (NYSE:SLG) by 15,825.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 480,634 shares of the real estate investment trust’s stock after buying an additional 477,616 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in SL Green Realty were worth $24,882,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SLG. Clear Harbor Asset Management LLC acquired a new position in SL Green Realty during the second quarter valued at $2,043,000. Royal Bank of Canada boosted its position in SL Green Realty by 903.3% during the 1st quarter. Royal Bank of Canada now owns 142,614 shares of the real estate investment trust’s stock worth $5,268,000 after acquiring an additional 128,400 shares during the period. Hosking Partners LLP grew its stake in SL Green Realty by 18.5% during the 4th quarter. Hosking Partners LLP now owns 290,166 shares of the real estate investment trust’s stock valued at $13,310,000 after acquiring an additional 45,337 shares in the last quarter. Nan Fung Trinity HK Ltd. purchased a new position in SL Green Realty during the 4th quarter valued at about $6,230,000. Finally, Advisors Capital Management LLC acquired a new position in shares of SL Green Realty in the 2nd quarter valued at about $962,000. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Price Performance

Shares of SLG opened at $54.99 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.10 and a current ratio of 3.10. The firm has a market cap of $3.91 billion, a PE ratio of -20.14, a PEG ratio of 2.38 and a beta of 1.60. The firm’s 50 day moving average price is $54.00 and its 200 day moving average price is $46.31. SL Green Realty Corporation has a twelve month low of $34.77 and a twelve month high of $66.29.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.21. The company had revenue of $264.00 million for 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%. SL Green Realty’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.63 EPS. As a group, research analysts expect that SL Green Realty Corporation will post 5.53 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.6175 per share. This represents a $2.47 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, June 30th. SL Green Realty’s dividend payout ratio is presently -90.48%.

Insider Buying and Selling

In other SL Green Realty news, insider Harrison Sitomer sold 23,113 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $57.71, for a total transaction of $1,333,851.23. Following the transaction, the insider directly owned 109,468 shares in the company, valued at $6,317,398.28. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.94% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Scotiabank increased their price target on shares of SL Green Realty from $56.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, August 5th. LADENBURG THALM/SH SH boosted their price objective on shares of SL Green Realty from $42.00 to $46.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Morgan Stanley set a $52.00 price objective on shares of SL Green Realty and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of SL Green Realty in a research report on Tuesday, August 25th. 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 assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $56.83.

SL Green Realty Company 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.