SL Green Realty Corp. (NYSE:SLG) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its holdings in SL Green Realty Corp. (NYSE:SLGGet Rating) by 43.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,142 shares of the real estate investment trust’s stock after purchasing an additional 3,707 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in SL Green Realty were worth $560,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp increased its stake in SL Green Realty by 12.2% in the first quarter. State Street Corp now owns 3,857,153 shares of the real estate investment trust’s stock valued at $314,295,000 after purchasing an additional 419,067 shares during the period. Confluence Investment Management LLC increased its stake in SL Green Realty by 54.3% in the second quarter. Confluence Investment Management LLC now owns 2,079,154 shares of the real estate investment trust’s stock valued at $95,953,000 after purchasing an additional 731,500 shares during the period. DAVENPORT & Co LLC increased its stake in SL Green Realty by 3.7% in the first quarter. DAVENPORT & Co LLC now owns 1,501,051 shares of the real estate investment trust’s stock valued at $122,222,000 after purchasing an additional 53,513 shares during the period. Wellington Management Group LLP increased its stake in SL Green Realty by 20.6% in the first quarter. Wellington Management Group LLP now owns 1,197,334 shares of the real estate investment trust’s stock valued at $97,200,000 after purchasing an additional 204,750 shares during the period. Finally, Northern Trust Corp increased its stake in SL Green Realty by 13.6% in the first quarter. Northern Trust Corp now owns 1,099,235 shares of the real estate investment trust’s stock valued at $89,236,000 after purchasing an additional 131,984 shares during the period. 89.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on SLG. Evercore ISI dropped their price objective on shares of SL Green Realty from $54.00 to $51.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 27th. Truist Financial dropped their price target on shares of SL Green Realty from $59.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, October 25th. Morgan Stanley boosted their price target on shares of SL Green Realty from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, September 9th. Wells Fargo & Company dropped their price target on shares of SL Green Realty from $47.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 18th. Finally, Piper Sandler dropped their price target on shares of SL Green Realty from $52.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, October 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $56.15.

SL Green Realty Stock Performance

SLG stock opened at $37.09 on Thursday. SL Green Realty Corp. has a 52 week low of $35.77 and a 52 week high of $83.96. The company’s 50-day moving average price is $41.17 and its 200 day moving average price is $49.43. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.34 and a quick ratio of 2.20.

SL Green Realty (NYSE:SLGGet Rating) last announced its quarterly earnings results on Thursday, October 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. SL Green Realty had a negative net margin of 8.17% and a negative return on equity of 1.34%. The company had revenue of $162.95 million for the quarter, compared to the consensus estimate of $158.30 million. During the same quarter in the prior year, the firm earned $1.83 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts expect that SL Green Realty Corp. will post 6.71 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st will be issued a $0.311 dividend. This represents a $3.73 annualized dividend and a dividend yield of 10.06%. The ex-dividend date of this dividend is Friday, October 28th. This is an increase from SL Green Realty’s previous monthly dividend of $0.31. SL Green Realty’s dividend payout ratio is -286.92%.

SL Green Realty Company Profile

(Get Rating)

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.

See Also

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

Receive News & Ratings for SL Green Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SL Green Realty and related companies with MarketBeat.com's FREE daily email newsletter.