SL Green Realty Corp. (NYSE:SLG) Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 50.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,886 shares of the real estate investment trust’s stock after acquiring an additional 12,681 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in SL Green Realty were worth $2,573,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SLG. Versant Capital Management Inc raised its position in shares of SL Green Realty by 17.7% during the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 157 shares during the period. MML Investors Services LLC lifted its position in SL Green Realty by 2.7% in the 3rd quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust’s stock valued at $427,000 after purchasing an additional 161 shares during the last quarter. GAMMA Investing LLC grew its position in SL Green Realty by 5.1% in the 4th quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust’s stock worth $285,000 after purchasing an additional 203 shares during the last quarter. Natixis Advisors LLC grew its position in SL Green Realty by 1.3% in the 4th quarter. Natixis Advisors LLC now owns 21,820 shares of the real estate investment trust’s stock worth $1,482,000 after purchasing an additional 284 shares during the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of SL Green Realty by 9.3% during the fourth quarter. Ieq Capital LLC now owns 4,542 shares of the real estate investment trust’s stock valued at $308,000 after buying an additional 387 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

SLG has been the topic of several recent analyst reports. Mizuho lifted their target price on SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Evercore ISI raised shares of SL Green Realty from an “in-line” rating to an “outperform” rating and reduced their price objective for the stock from $74.00 to $73.00 in a report on Monday, March 17th. Scotiabank lowered their target price on shares of SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Bank of America dropped their price target on shares of SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. upgraded shares of SL Green Realty from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, SL Green Realty currently has an average rating of “Hold” and a consensus price target of $69.87.

SL Green Realty Stock Performance

Shares of NYSE SLG opened at $59.49 on Tuesday. The stock’s fifty day simple moving average is $63.27 and its 200 day simple moving average is $69.06. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 743.59, a PEG ratio of 5.30 and a beta of 1.82. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. SL Green Realty Corp. has a 52-week low of $47.22 and a 52-week high of $82.81.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. As a group, sell-side analysts forecast that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.2575 dividend. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.03 dividend on an annualized basis and a yield of 1.73%. SL Green Realty’s dividend payout ratio (DPR) is currently 3,862.50%.

Insiders Place Their Bets

In other news, Director Craig M. Hatkoff sold 3,455 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of the sale, the director now owns 2,052 shares of the company’s stock, valued at $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 5.08% of the company’s stock.

About SL Green Realty

3SL Green Realty Corp., Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.