State of New Jersey Common Pension Fund D Sells 4,155 Shares of SL Green Realty Corp. (NYSE:SLG)

State of New Jersey Common Pension Fund D lowered its position in SL Green Realty Corp. (NYSE:SLGGet Rating) by 10.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,214 shares of the real estate investment trust’s stock after selling 4,155 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in SL Green Realty were worth $2,777,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp lifted its position in shares of SL Green Realty by 5.9% during the 4th quarter. State Street Corp now owns 3,438,086 shares of the real estate investment trust’s stock worth $255,865,000 after buying an additional 192,982 shares during the period. DAVENPORT & Co LLC lifted its position in shares of SL Green Realty by 3.7% during the 1st quarter. DAVENPORT & Co LLC now owns 1,501,051 shares of the real estate investment trust’s stock worth $122,222,000 after buying an additional 53,513 shares during the period. Confluence Investment Management LLC lifted its position in shares of SL Green Realty by 1.2% during the 1st quarter. Confluence Investment Management LLC now owns 1,347,654 shares of the real estate investment trust’s stock worth $109,403,000 after buying an additional 15,805 shares during the period. Geode Capital Management LLC lifted its position in shares of SL Green Realty by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,044,966 shares of the real estate investment trust’s stock worth $74,924,000 after buying an additional 24,202 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of SL Green Realty by 15.9% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 932,706 shares of the real estate investment trust’s stock worth $67,165,000 after buying an additional 128,000 shares during the period. Institutional investors own 84.49% of the company’s stock.

SL Green Realty Stock Up 0.6 %

Shares of SL Green Realty stock opened at $49.65 on Friday. The company has a quick ratio of 2.36, a current ratio of 2.20 and a debt-to-equity ratio of 0.82. SL Green Realty Corp. has a 12 month low of $43.93 and a 12 month high of $83.96. The business has a fifty day simple moving average of $51.31 and a 200 day simple moving average of $67.16. The stock has a market cap of $3.18 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 3.53 and a beta of 1.48.

SL Green Realty (NYSE:SLGGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.76). The company had revenue of $155.20 million for the quarter, compared to analyst estimates of $157.74 million. SL Green Realty had a return on equity of 6.35% and a net margin of 40.01%. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period last year, the firm earned $1.65 earnings per share. Research analysts predict that SL Green Realty Corp. will post 6.75 EPS for the current year.

SL Green Realty Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 29th will be issued a dividend of $0.3108 per share. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $3.73 annualized dividend and a yield of 7.51%. SL Green Realty’s dividend payout ratio is presently 82.60%.

Wall Street Analyst Weigh In

Several research firms recently commented on SLG. Wells Fargo & Company cut their target price on SL Green Realty from $76.00 to $48.00 and set an “equal weight” rating for the company in a research report on Friday, July 1st. Deutsche Bank Aktiengesellschaft dropped their price target on SL Green Realty from $81.00 to $57.00 in a report on Wednesday, July 20th. Mizuho dropped their price target on SL Green Realty from $77.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, July 6th. Jefferies Financial Group dropped their price target on SL Green Realty from $78.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, June 30th. Finally, Truist Financial dropped their price target on SL Green Realty from $80.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, June 30th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $60.51.

About SL Green Realty

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SL Green Realty Corp., an S&P 500 company and 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 December 31, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet.

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Institutional Ownership by Quarter for SL Green Realty (NYSE:SLG)

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