Louisiana State Employees Retirement System Makes New $1.45 Million Investment in SL Green Realty Corp. (NYSE:SLG)

Louisiana State Employees Retirement System acquired a new position in SL Green Realty Corp. (NYSE:SLG) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 32,200 shares of the real estate investment trust’s stock, valued at approximately $1,454,000.

Other hedge funds also recently made changes to their positions in the company. Private Trust Co. NA acquired a new position in shares of SL Green Realty in the 4th quarter worth approximately $33,000. Financial Gravity Asset Management Inc. increased its position in shares of SL Green Realty by 3,073.3% in the third quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 922 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of SL Green Realty by 92.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,553 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 747 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of SL Green Realty in the third quarter worth approximately $88,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of SL Green Realty by 122.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 1,502 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

SLG has been the topic of several analyst reports. Evercore ISI downgraded shares of SL Green Realty from an “in-line” rating to an “underperform” rating and set a $44.00 target price on the stock. in a research report on Monday, March 18th. Truist Financial downgraded shares of SL Green Realty from a “buy” rating to a “hold” rating and lifted their target price for the stock from $44.00 to $47.00 in a research report on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of SL Green Realty in a research report on Tuesday, January 30th. They set a “hold” rating and a $50.00 price objective on the stock. TheStreet raised shares of SL Green Realty from a “d+” rating to a “c-” rating in a research report on Wednesday, January 10th. Finally, The Goldman Sachs Group boosted their price objective on shares of SL Green Realty from $30.00 to $36.00 and gave the company a “sell” rating in a research report on Thursday, January 11th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $47.00.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Carol N. Brown sold 5,118 shares of SL Green Realty stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $44.37, for a total value of $227,085.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Betsy S. Atkins sold 9,894 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $47.25, for a total value of $467,491.50. Following the completion of the sale, the director now directly owns 6,886 shares in the company, valued at $325,363.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carol N. Brown sold 5,118 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $44.37, for a total transaction of $227,085.66. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

SL Green Realty Stock Up 2.2 %

NYSE SLG opened at $49.58 on Friday. The company has a current ratio of 2.96, a quick ratio of 2.23 and a debt-to-equity ratio of 1.01. The company has a 50 day moving average price of $49.94 and a two-hundred day moving average price of $43.24. SL Green Realty Corp. has a 12-month low of $20.51 and a 12-month high of $55.75.

SL Green Realty Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date of this dividend is Monday, April 29th. SL Green Realty’s dividend payout ratio (DPR) is presently -36.32%.

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.