Public Employees Retirement Association of Colorado Sells 962 Shares of SL Green Realty Corp. (NYSE:SLG)

Public Employees Retirement Association of Colorado cut its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 11.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,480 shares of the real estate investment trust’s stock after selling 962 shares during the period. Public Employees Retirement Association of Colorado’s holdings in SL Green Realty were worth $424,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of SL Green Realty by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,384,977 shares of the real estate investment trust’s stock valued at $572,524,000 after purchasing an additional 60,032 shares in the last quarter. Wellington Management Group LLP boosted its stake in SL Green Realty by 7.6% during the fourth quarter. Wellington Management Group LLP now owns 1,114,957 shares of the real estate investment trust’s stock valued at $50,363,000 after buying an additional 78,322 shares during the period. Dimensional Fund Advisors LP grew its position in SL Green Realty by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust’s stock worth $56,350,000 after buying an additional 88,309 shares in the last quarter. Bank of New York Mellon Corp increased its stake in SL Green Realty by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 810,490 shares of the real estate investment trust’s stock worth $45,906,000 after acquiring an additional 14,167 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of SL Green Realty by 24.7% in the 1st quarter. Russell Investments Group Ltd. now owns 799,431 shares of the real estate investment trust’s stock valued at $44,067,000 after acquiring an additional 158,268 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Stock Performance

SLG stock opened at $69.44 on Friday. The stock has a market capitalization of $4.57 billion, a PE ratio of -8.41, a price-to-earnings-growth ratio of 2.25 and a beta of 1.83. The stock’s 50 day simple moving average is $65.27 and its 200 day simple moving average is $57.57. SL Green Realty Corp. has a 12-month low of $28.55 and a 12-month high of $73.80. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.98.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.09. SL Green Realty had a negative return on equity of 3.92% and a negative net margin of 19.31%. The company had revenue of $222.82 million for the quarter, compared to analysts’ expectations of $133.83 million. During the same period last year, the firm posted $1.43 earnings per share. SL Green Realty’s revenue was down 9.4% compared to the same quarter last year. As a group, research analysts forecast that SL Green Realty Corp. will post 7.58 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.32%. SL Green Realty’s dividend payout ratio is presently -36.32%.

Analysts Set New Price Targets

Several research analysts recently weighed in on SLG shares. Barclays raised their target price on shares of SL Green Realty from $49.00 to $58.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group raised their price objective on shares of SL Green Realty from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Evercore ISI raised SL Green Realty from an “underperform” rating to an “inline” rating and raised their price objective for the company from $55.00 to $66.00 in a report on Monday, September 16th. Wells Fargo & Company increased their target price on shares of SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Finally, StockNews.com upgraded shares of SL Green Realty to a “sell” rating in a research report on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.64.

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.