Louisiana State Employees Retirement System Purchases 2,900 Shares of SL Green Realty Corp. (NYSE:SLG)

Louisiana State Employees Retirement System raised its position in shares of SL Green Realty Corp. (NYSE:SLG) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,200 shares of the real estate investment trust’s stock after purchasing an additional 2,900 shares during the period. Louisiana State Employees Retirement System owned 0.05% of SL Green Realty worth $2,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Empowered Funds LLC bought a new position in shares of SL Green Realty in the fourth quarter worth $452,000. Advisors Preferred LLC boosted its holdings in shares of SL Green Realty by 58.2% in the fourth quarter. Advisors Preferred LLC now owns 54,459 shares of the real estate investment trust’s stock worth $3,724,000 after acquiring an additional 20,037 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of SL Green Realty by 28.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,928 shares of the real estate investment trust’s stock worth $1,014,000 after acquiring an additional 3,285 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of SL Green Realty by 8.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust’s stock worth $5,187,000 after acquiring an additional 6,158 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in shares of SL Green Realty by 8.7% in the fourth quarter. State of Alaska Department of Revenue now owns 73,919 shares of the real estate investment trust’s stock worth $5,019,000 after acquiring an additional 5,928 shares during the period. 89.96% of the stock is owned by institutional investors.

SL Green Realty Stock Up 0.2 %

SLG opened at $64.61 on Friday. The company has a market cap of $4.26 billion, a P/E ratio of 807.56, a P/E/G ratio of 5.49 and a beta of 1.82. The business’s 50-day moving average price is $67.44 and its 200-day moving average price is $69.55. The company has a current ratio of 3.21, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. SL Green Realty Corp. has a 12 month low of $43.69 and a 12 month high of $82.81.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 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%. On average, equities analysts expect that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be paid a $0.2575 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.09 annualized dividend and a dividend yield of 4.78%. SL Green Realty’s payout ratio is presently 3,862.50%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Bank of America cut their price target on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Jefferies Financial Group lowered their price objective on SL Green Realty from $75.00 to $69.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Piper Sandler reiterated an “overweight” rating and issued a $90.00 price objective (up previously from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Mizuho increased their price objective on SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $51.00 to $80.00 in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $71.07.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.30, for a total transaction of $229,066.50. Following the sale, the director now directly owns 2,052 shares of the company’s stock, valued at approximately $136,047.60. The trade was a 62.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.