961,272 Shares in SL Green Realty Corporation $SLG Bought by Norges Bank

Norges Bank bought a new position in SL Green Realty Corporation (NYSE:SLG) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 961,272 shares of the real estate investment trust’s stock, valued at approximately $44,094,000.

Other large investors also recently added to or reduced their stakes in the company. Triumph Capital Management purchased a new position in SL Green Realty in the 3rd quarter worth $45,000. State of Wyoming purchased a new position in SL Green Realty in the 3rd quarter worth approximately $68,000. Hantz Financial Services Inc. increased its stake in SL Green Realty by 252.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 885 shares during the period. Fourth Dimension Wealth LLC increased its stake in SL Green Realty by 45.5% in the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 500 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in SL Green Realty by 107.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,644 shares of the real estate investment trust’s stock worth $98,000 after purchasing an additional 853 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Scotiabank reaffirmed an “outperform” rating on shares of SL Green Realty in a research note on Thursday, May 21st. Weiss Ratings upgraded shares of SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Zacks Research upgraded shares of SL Green Realty from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 25th. Wells Fargo & Company boosted their price objective on shares of SL Green Realty from $40.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Finally, Barclays decreased their price objective on shares of SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, SL Green Realty has a consensus rating of “Hold” and an average target price of $50.90.

SL Green Realty Price Performance

Shares of SLG opened at $48.97 on Tuesday. The stock has a market cap of $3.50 billion, a PE ratio of -19.51 and a beta of 1.61. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.03 and a current ratio of 3.03. SL Green Realty Corporation has a fifty-two week low of $34.77 and a fifty-two week high of $66.91. The firm’s 50-day simple moving average is $42.14 and its two-hundred day simple moving average is $42.76.

SL Green Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Tuesday, March 31st. 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.