State of New Jersey Common Pension Fund D Reduces Position in SL Green Realty Corp. (NYSE:SLG)

State of New Jersey Common Pension Fund D reduced its position in SL Green Realty Corp. (NYSE:SLG) by 36.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,948 shares of the real estate investment trust’s stock after selling 21,487 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of SL Green Realty worth $2,149,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of SL Green Realty during the 2nd quarter worth approximately $29,000. Rothschild Investment LLC purchased a new stake in SL Green Realty in the second quarter worth $55,000. Fidelis Capital Partners LLC purchased a new stake in shares of SL Green Realty during the first quarter valued at $55,000. GAMMA Investing LLC grew its holdings in shares of SL Green Realty by 6.3% in the first quarter. GAMMA Investing LLC now owns 3,305 shares of the real estate investment trust’s stock worth $182,000 after purchasing an additional 196 shares during the last quarter. Finally, Meeder Advisory Services Inc. purchased a new position in SL Green Realty in the 1st quarter worth about $201,000. Institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of SL Green Realty from $47.00 to $55.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. BMO Capital Markets increased their target price on SL Green Realty from $58.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Piper Sandler boosted their price objective on SL Green Realty from $58.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. The Goldman Sachs Group raised their target price on SL Green Realty from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Finally, Barclays upped their price objective on SL Green Realty from $49.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $59.64.

SL Green Realty Trading Up 0.2 %

Shares of SL Green Realty stock opened at $72.21 on Friday. SL Green Realty Corp. has a twelve month low of $28.55 and a twelve month high of $73.80. The firm’s 50-day moving average price is $64.56 and its 200 day moving average price is $56.93. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $4.70 billion, a PE ratio of -8.74, a P/E/G ratio of 2.22 and a beta of 1.83.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. The firm had revenue of $222.82 million for the quarter, compared to analyst estimates of $133.83 million. SL Green Realty had a negative return on equity of 3.92% and a negative net margin of 19.31%. The business’s revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.43 earnings per share. On average, sell-side analysts predict that SL Green Realty Corp. will post 7.58 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.25 dividend. This represents a $3.00 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Friday, August 30th. SL Green Realty’s dividend payout ratio is currently -36.32%.

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.