Ibex Wealth Advisors Takes Position in SL Green Realty Corporation $SLG

Ibex Wealth Advisors acquired a new stake in SL Green Realty Corporation (NYSE:SLG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 182,383 shares of the real estate investment trust’s stock, valued at approximately $6,737,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Integrity Alliance LLC. raised its position in SL Green Realty by 4.1% during the fourth quarter. Integrity Alliance LLC. now owns 5,970 shares of the real estate investment trust’s stock worth $274,000 after acquiring an additional 237 shares during the last quarter. Probity Advisors Inc. increased its stake in shares of SL Green Realty by 2.8% during the 4th quarter. Probity Advisors Inc. now owns 10,040 shares of the real estate investment trust’s stock worth $461,000 after purchasing an additional 269 shares in the last quarter. Empowered Funds LLC increased its stake in shares of SL Green Realty by 6.2% during the 4th quarter. Empowered Funds LLC now owns 6,220 shares of the real estate investment trust’s stock worth $285,000 after purchasing an additional 361 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of SL Green Realty by 30.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 378 shares during the last quarter. Finally, Telos Capital Management Inc. raised its position in shares of SL Green Realty by 3.6% during the 4th quarter. Telos Capital Management Inc. now owns 11,277 shares of the real estate investment trust’s stock worth $517,000 after purchasing an additional 396 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Stock Down 0.2%

Shares of NYSE:SLG opened at $48.26 on Friday. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 1.18. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of -19.23 and a beta of 1.58. The stock’s 50-day moving average price is $47.31 and its two-hundred day moving average price is $43.74. SL Green Realty Corporation has a 12-month low of $34.77 and a 12-month high of $66.29.

SL Green Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.6175 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.47 annualized dividend and a dividend yield of 5.1%. SL Green Realty’s dividend payout ratio (DPR) is currently -98.41%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SLG. Wells Fargo & Company boosted their price target on SL Green Realty from $40.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft raised SL Green Realty from a “hold” rating to a “buy” rating and decreased their price objective for the company from $45.00 to $44.00 in a research note on Wednesday, March 18th. Piper Sandler cut 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 note on Wednesday, April 1st. Scotiabank reissued an “outperform” rating on shares of SL Green Realty in a research note on Thursday, May 21st. Finally, Weiss Ratings upgraded shares of SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.75.

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.