Treasurer of the State of North Carolina Trims Stock Position in SL Green Realty Corp. (NYSE:SLG)

Treasurer of the State of North Carolina trimmed its stake in SL Green Realty Corp. (NYSE:SLG – Get Rating) by 19.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,047 shares of the real estate investment trust’s stock after selling 5,388 shares during the period. Treasurer of the State of North Carolina’s holdings in SL Green Realty were worth $743,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Rockefeller Capital Management L.P. lifted its holdings in SL Green Realty by 255.1% in the third quarter. Rockefeller Capital Management L.P. now owns 806 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 579 shares during the period. CWM LLC boosted its position in shares of SL Green Realty by 583.3% during the fourth quarter. CWM LLC now owns 1,066 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 910 shares in the last quarter. Baystate Wealth Management LLC grew its stake in SL Green Realty by 3,388.9% in the fourth quarter. Baystate Wealth Management LLC now owns 1,256 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 1,220 shares during the period. Parallel Advisors LLC lifted its position in SL Green Realty by 21.8% during the fourth quarter. Parallel Advisors LLC now owns 2,238 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 401 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of SL Green Realty by 104.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,972 shares of the real estate investment trust’s stock valued at $79,000 after buying an additional 1,006 shares in the last quarter. Institutional investors own 82.00% of the company’s stock.

SL Green Realty Stock Performance

Shares of SLG stock opened at $22.54 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.52 and a quick ratio of 2.52. SL Green Realty Corp. has a 1 year low of $19.06 and a 1 year high of $63.17. The firm has a fifty day moving average price of $23.24 and a 200-day moving average price of $32.28.

SL Green Realty (NYSE:SLG – Get Rating) last released its quarterly earnings results on Thursday, April 20th. The real estate investment trust reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($2.05). SL Green Realty had a negative net margin of 14.56% and a negative return on equity of 2.65%. The company had revenue of $223.58 million for the quarter, compared to the consensus estimate of $193.56 million. During the same period in the prior year, the firm posted $1.65 EPS. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, sell-side analysts anticipate that SL Green Realty Corp. will post 5.49 earnings per share for the current year.

SL Green Realty Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be issued a dividend of $0.271 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $3.25 annualized dividend and a yield of 14.43%. This is an increase from SL Green Realty’s previous monthly dividend of $0.27. SL Green Realty’s payout ratio is currently -145.74%.

Insiders Place Their Bets

In other news, Director Betsy S. Atkins sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $21.47, for a total transaction of $107,350.00. Following the sale, the director now directly owns 11,662 shares in the company, valued at approximately $250,383.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SL Green Realty news, Director Betsy S. Atkins sold 5,000 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $21.47, for a total value of $107,350.00. Following the completion of the sale, the director now owns 11,662 shares in the company, valued at approximately $250,383.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew J. Diliberto purchased 10,000 shares of the firm’s stock in a transaction on Friday, March 24th. The shares were acquired at an average cost of $16.44 per share, for a total transaction of $164,400.00. Following the completion of the acquisition, the chief financial officer now owns 13,000 shares of the company’s stock, valued at $213,720. The disclosure for this purchase can be found here. Company insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

SLG has been the subject of a number of recent research reports. Wells Fargo & Company lowered their price target on shares of SL Green Realty from $36.00 to $26.00 and set an “equal weight” rating for the company in a research report on Thursday, March 16th. The Goldman Sachs Group assumed coverage on SL Green Realty in a research note on Tuesday, March 21st. They issued a “sell” rating and a $18.00 price target on the stock. BMO Capital Markets lifted their price objective on SL Green Realty from $30.00 to $32.00 in a research note on Monday, April 24th. Morgan Stanley cut their target price on SL Green Realty from $35.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, March 31st. Finally, Evercore ISI lowered their price target on SL Green Realty from $38.00 to $33.00 and set an “in-line” rating for the company in a research report on Monday, March 27th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.19.

SL Green Realty Company Profile

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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.