New York State Teachers Retirement System Reduces Holdings in SL Green Realty Corporation (NYSE:SLG)

New York State Teachers Retirement System trimmed its stake in SL Green Realty Corporation (NYSE:SLG) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,492 shares of the real estate investment trust’s stock after selling 200 shares during the period. New York State Teachers Retirement System owned approximately 0.12% of SL Green Realty worth $4,933,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SLG. Jones Financial Companies Lllp purchased a new position in shares of SL Green Realty in the 4th quarter valued at $39,000. Quadrant Capital Group LLC boosted its stake in SL Green Realty by 37.4% during the 4th quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 208 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in SL Green Realty during the 4th quarter worth $75,000. GF Fund Management CO. LTD. acquired a new stake in SL Green Realty during the 4th quarter worth $80,000. Finally, Summit Securities Group LLC acquired a new stake in SL Green Realty during the 4th quarter worth $88,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Stock Down 0.8%

Shares of NYSE SLG opened at $61.83 on Monday. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 0.99. SL Green Realty Corporation has a 52 week low of $45.15 and a 52 week high of $82.81. The firm has a 50-day moving average price of $59.49 and a 200 day moving average price of $60.53. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of -147.20 and a beta of 1.65.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, beating the consensus estimate of $1.27 by $0.13. SL Green Realty had a negative net margin of 1.30% and a negative return on equity of 0.98%. The firm had revenue of $144.52 million during the quarter, compared to analysts’ expectations of $158.44 million. Equities research analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Monday, June 30th. SL Green Realty’s dividend payout ratio (DPR) is -735.71%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SLG. Morgan Stanley increased their price target on shares of SL Green Realty from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 12th. Jefferies Financial Group began coverage on shares of SL Green Realty in a research note on Monday, March 17th. They set a “hold” rating and a $58.00 price target for the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SL Green Realty in a research note on Friday, May 23rd. Barclays decreased their price target on shares of SL Green Realty from $76.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. Finally, Truist Financial decreased their price target on shares of SL Green Realty from $62.00 to $54.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, SL Green Realty presently has a consensus rating of “Hold” and a consensus price target of $66.33.

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.