Teacher Retirement System of Texas Invests $601,000 in SL Green Realty Corporation (NYSE:SLG)

Teacher Retirement System of Texas bought a new stake in shares of SL Green Realty Corporation (NYSE:SLG) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 10,424 shares of the real estate investment trust’s stock, valued at approximately $601,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLG. Norges Bank acquired a new stake in SL Green Realty in the fourth quarter valued at approximately $48,050,000. Northern Trust Corp grew its holdings in SL Green Realty by 79.9% during the 4th quarter. Northern Trust Corp now owns 1,429,636 shares of the real estate investment trust’s stock valued at $97,101,000 after purchasing an additional 634,788 shares in the last quarter. Vanguard Group Inc. increased its stake in SL Green Realty by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust’s stock worth $735,594,000 after buying an additional 564,822 shares during the period. Balyasny Asset Management L.P. acquired a new position in SL Green Realty in the 4th quarter worth $29,000,000. Finally, Alyeska Investment Group L.P. lifted its holdings in SL Green Realty by 30.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,493,208 shares of the real estate investment trust’s stock worth $101,419,000 after buying an additional 347,608 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLG has been the topic of a number of analyst reports. Scotiabank set a $71.00 target price on SL Green Realty and gave the stock a “sector perform” rating in a research report on Monday. Truist Financial dropped their price objective on SL Green Realty from $62.00 to $54.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Piper Sandler cut their target price on SL Green Realty from $90.00 to $72.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. 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 report on Wednesday, April 30th. Finally, Wells Fargo & Company dropped their price target on shares of SL Green Realty from $69.00 to $58.00 and set an “equal weight” rating for the company in a research note on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $65.33.

SL Green Realty Trading Down 1.9%

NYSE:SLG opened at $62.37 on Wednesday. The firm has a market capitalization of $4.45 billion, a P/E ratio of -148.50 and a beta of 1.65. The business has a 50 day simple moving average of $60.70 and a 200 day simple moving average of $60.33. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.85 and a quick ratio of 2.85. SL Green Realty Corporation has a 12-month low of $45.15 and a 12-month high of $82.81.

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

SL Green Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Monday, June 30th. SL Green Realty’s payout ratio is currently -735.71%.

About SL Green Realty

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.