Public Employees Retirement System of Ohio Buys 2,586 Shares of SL Green Realty Corporation $SLG

Public Employees Retirement System of Ohio increased its stake in SL Green Realty Corporation (NYSE:SLG) by 2.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 102,589 shares of the real estate investment trust’s stock after purchasing an additional 2,586 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.14% of SL Green Realty worth $6,350,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC acquired a new position in SL Green Realty during the first quarter worth about $87,878,000. Vanguard Group Inc. increased its position in SL Green Realty by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 11,113,302 shares of the real estate investment trust’s stock worth $641,238,000 after purchasing an additional 283,009 shares in the last quarter. GAMMA Investing LLC lifted its stake in SL Green Realty by 5,759.5% in the 1st quarter. GAMMA Investing LLC now owns 245,629 shares of the real estate investment trust’s stock valued at $14,173,000 after purchasing an additional 241,437 shares during the last quarter. Vision Capital Corp acquired a new stake in SL Green Realty in the first quarter valued at approximately $11,540,000. Finally, Aberdeen Group plc grew its stake in shares of SL Green Realty by 633.1% during the first quarter. Aberdeen Group plc now owns 162,294 shares of the real estate investment trust’s stock worth $9,364,000 after buying an additional 140,157 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of SLG opened at $59.26 on Monday. The stock has a 50 day moving average of $58.32 and a 200 day moving average of $58.09. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of -109.74 and a beta of 1.74. SL Green Realty Corporation has a 12 month low of $45.15 and a 12 month high of $82.81. The company has a current ratio of 2.72, a quick ratio of 2.72 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, beating analysts’ consensus estimates of $1.37 by $0.26. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The firm had revenue of $147.54 million during the quarter, compared to the consensus estimate of $171.24 million. During the same period in the prior year, the firm earned $2.05 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. As a group, sell-side analysts forecast that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The business also recently declared a sep 25 dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.2575 dividend. The ex-dividend date is Tuesday, September 30th. This represents a dividend yield of 502.0%. SL Green Realty’s payout ratio is -572.22%.

Insider Activity

In other news, Director Carol N. Brown sold 937 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $63.09, for a total transaction of $59,115.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SLG. Scotiabank raised SL Green Realty from a “sector perform” rating to a “sector outperform” rating and set a $71.00 price objective for the company in a research note on Friday, July 25th. Truist Financial upped their price target on shares of SL Green Realty from $54.00 to $58.00 and gave the company a “hold” rating in a research report on Friday, July 18th. Evercore ISI raised their price target 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, September 15th. Citigroup upgraded shares of SL Green Realty from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $70.00 in a report on Friday, September 12th. Finally, JPMorgan Chase & Co. decreased their price objective on SL Green Realty from $70.00 to $69.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $67.79.

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.