SL Green Realty Corporation (NYSE:SLG) Stock Holdings Increased by Arizona State Retirement System

Arizona State Retirement System grew its stake in shares of SL Green Realty Corporation (NYSE:SLG) by 9.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 20,578 shares of the real estate investment trust’s stock after acquiring an additional 1,767 shares during the period. Arizona State Retirement System’s holdings in SL Green Realty were worth $1,187,000 at the end of the most recent reporting period.

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

SL Green Realty Price Performance

SL Green Realty stock opened at $60.19 on Friday. SL Green Realty Corporation has a 12 month low of $45.15 and a 12 month high of $82.81. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of -111.46 and a beta of 1.65. The stock’s 50 day moving average is $61.06 and its 200-day moving average is $60.21. The company has a current ratio of 2.72, a quick ratio of 2.85 and a debt-to-equity ratio of 0.98.

SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.26. The firm had revenue of $147.54 million during the quarter, compared to analysts’ expectations of $171.24 million. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.05 earnings per share. Equities research analysts expect that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 1.71%. The ex-dividend date was Monday, June 30th. SL Green Realty’s dividend payout ratio (DPR) is presently -572.22%.

Insider Transactions at SL Green Realty

In other SL Green Realty news, Director Carol N. Brown sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $60.61, for a total value of $151,525.00. Following the completion of the sale, the director owned 937 shares of the company’s stock, valued at approximately $56,791.57. This trade represents a 72.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.04% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Scotiabank set a $71.00 price objective on SL Green Realty and gave the company a “sector perform” rating in a research note on Monday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SL Green Realty in a report on Friday, May 23rd. Barclays reduced their price objective on 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. Wells Fargo & Company reduced their target price 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. Finally, Truist Financial boosted their price target on shares of SL Green Realty from $54.00 to $58.00 and gave the company a “hold” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $65.60.

SL Green Realty Company 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.