Strs Ohio Purchases Shares of 27,600 SL Green Realty Corporation $SLG

Strs Ohio purchased a new stake in SL Green Realty Corporation (NYSE:SLG) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 27,600 shares of the real estate investment trust’s stock, valued at approximately $1,593,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new position in SL Green Realty in the fourth quarter valued at about $75,000. GF Fund Management CO. LTD. bought a new stake in shares of SL Green Realty during the fourth quarter worth approximately $80,000. State of Wyoming bought a new stake in shares of SL Green Realty during the first quarter worth approximately $172,000. KBC Group NV increased its stake in SL Green Realty by 20.9% in the first quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust’s stock valued at $193,000 after purchasing an additional 577 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in SL Green Realty by 13.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,889 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 466 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Carol N. Brown sold 2,500 shares of the firm’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $60.61, for a total transaction of $151,525.00. Following the transaction, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SLG shares. Evercore ISI upped their target price on shares of SL Green Realty from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Monday. Citigroup upgraded shares of SL Green Realty from a “neutral” rating to a “buy” rating and increased their target price for the stock from $65.00 to $70.00 in a report on Friday, September 12th. Scotiabank upgraded shares of SL Green Realty from a “sector perform” rating to a “sector outperform” rating and set a $71.00 target price for the company in a report on Friday, July 25th. JPMorgan Chase & Co. cut their price target on shares of SL Green Realty from $70.00 to $69.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. Finally, Wall Street Zen cut shares of SL Green Realty from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. Five equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, SL Green Realty presently has a consensus rating of “Hold” and a consensus target price of $67.79.

SL Green Realty Stock Performance

NYSE SLG opened at $65.67 on Wednesday. The firm has a 50-day moving average of $58.55 and a 200-day moving average of $58.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.72 and a current ratio of 2.72. The stock has a market cap of $4.68 billion, a PE ratio of -121.61 and a beta of 1.74. SL Green Realty Corporation has a 52-week low of $45.15 and a 52-week high of $82.81.

SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.26. The company had revenue of $147.54 million during the quarter, compared to analysts’ expectations of $171.24 million. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. SL Green Realty’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.05 EPS. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. On average, sell-side analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The firm also recently declared a aug 25 dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.2575 per share. This represents a yield of 543.0%. The ex-dividend date of this dividend was Friday, August 29th. SL Green Realty’s dividend payout ratio (DPR) is currently -572.22%.

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.