State of Alaska Department of Revenue Buys 5,928 Shares of SL Green Realty Corp. (NYSE:SLG)

State of Alaska Department of Revenue grew its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 8.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 73,919 shares of the real estate investment trust’s stock after acquiring an additional 5,928 shares during the period. State of Alaska Department of Revenue’s holdings in SL Green Realty were worth $5,019,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SLG. Rosenberg Matthew Hamilton increased its holdings in SL Green Realty by 6.6% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock worth $161,000 after acquiring an additional 144 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of SL Green Realty by 4.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock valued at $262,000 after purchasing an additional 148 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of SL Green Realty by 17.7% in the fourth 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 raised its position in shares of SL Green Realty by 2.7% in the third quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust’s stock worth $427,000 after buying an additional 161 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in SL Green Realty by 5.1% during the fourth quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 203 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Stock Performance

NYSE SLG opened at $65.97 on Friday. The company has a 50-day simple moving average of $68.49 and a two-hundred day simple moving average of $69.49. SL Green Realty Corp. has a 12-month low of $42.10 and a 12-month high of $82.81. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 824.59, a PEG ratio of 5.54 and a beta of 1.82. The company has a quick ratio of 2.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.90.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, beating 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%. On average, equities analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be issued a $0.2575 dividend. This represents a $3.09 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Friday, January 31st. SL Green Realty’s dividend payout ratio is 3,862.50%.

Wall Street Analyst Weigh In

SLG has been the topic of a number of research analyst reports. Compass Point upped their target price on SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. BMO Capital Markets restated an “outperform” rating and issued a $87.00 price objective (up from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $51.00 to $80.00 in a research report on Tuesday, December 10th. Piper Sandler reissued an “overweight” rating and issued a $90.00 price target (up previously from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Finally, Truist Financial raised their price objective on shares of SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $71.07.

Insider Buying and Selling

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.30, for a total value of $229,066.50. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.08% of the stock is owned by insiders.

SL Green Realty Profile

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.