Hosking Partners LLP Raises Stock Position in SL Green Realty Corporation $SLG

Hosking Partners LLP lifted its position in SL Green Realty Corporation (NYSE:SLG) by 18.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 290,166 shares of the real estate investment trust’s stock after buying an additional 45,337 shares during the period. Hosking Partners LLP’s holdings in SL Green Realty were worth $13,310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SLG. AQR Capital Management LLC grew its position in shares of SL Green Realty by 74.8% in the 1st quarter. AQR Capital Management LLC now owns 26,883 shares of the real estate investment trust’s stock worth $1,519,000 after buying an additional 11,506 shares during the last quarter. United Services Automobile Association purchased a new position in shares of SL Green Realty in the 1st quarter worth approximately $253,000. Empowered Funds LLC grew its position in shares of SL Green Realty by 10.9% in the 1st quarter. Empowered Funds LLC now owns 7,374 shares of the real estate investment trust’s stock worth $425,000 after buying an additional 722 shares during the last quarter. Creative Planning purchased a new position in SL Green Realty during the 2nd quarter worth $421,000. Finally, California Public Employees Retirement System grew its stake in SL Green Realty by 4.6% during the 2nd quarter. California Public Employees Retirement System now owns 131,528 shares of the real estate investment trust’s stock worth $8,142,000 after buying an additional 5,789 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SLG shares. Weiss Ratings reissued a “sell (d+)” rating on shares of SL Green Realty in a research report on Wednesday, January 21st. Zacks Research raised shares of SL Green Realty from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 25th. BTIG Research dropped their target price on shares of SL Green Realty from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Raymond James Financial set a $44.00 target price on shares of SL Green Realty in a research report on Tuesday, February 3rd. Finally, Evercore reissued an “outperform” rating and set a $46.00 target price on shares of SL Green Realty in a research report on Friday, April 17th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $51.15.

SL Green Realty Stock Down 0.0%

Shares of SLG opened at $45.74 on Monday. SL Green Realty Corporation has a 52 week low of $34.77 and a 52 week high of $66.91. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of -18.22 and a beta of 1.60. The stock’s 50-day moving average price is $39.46 and its 200-day moving average price is $43.72.

SL Green Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a dividend of $0.6175 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.47 dividend on an annualized basis and a yield of 5.4%. SL Green Realty’s dividend payout ratio is -98.41%.

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.