SL Green Realty Corp. (NYSE:SLG) Shares Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in SL Green Realty Corp. (NYSE:SLG) by 50.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,886 shares of the real estate investment trust’s stock after buying an additional 12,681 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.06% of SL Green Realty worth $2,573,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in shares of SL Green Realty during the 3rd quarter worth about $35,000. Jones Financial Companies Lllp purchased a new position in SL Green Realty during the fourth quarter worth approximately $39,000. Versant Capital Management Inc grew its stake in shares of SL Green Realty by 17.7% during the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 157 shares during the period. Blue Trust Inc. increased its holdings in shares of SL Green Realty by 106.3% during the 4th quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 857 shares during the last quarter. Finally, Game Plan Financial Advisors LLC purchased a new position in shares of SL Green Realty in the 4th quarter worth $149,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Insider Buying and Selling

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.30, for a total transaction of $229,066.50. Following the transaction, the director now owns 2,052 shares of the company’s stock, valued at $136,047.60. This trade represents a 62.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.08% of the company’s stock.

Wall Street Analyst Weigh In

SLG has been the subject of several research analyst reports. Truist Financial upped their price target on SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, January 27th. Compass Point raised their price target on shares of SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Morgan Stanley boosted their price objective on shares of SL Green Realty from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 12th. Jefferies Financial Group initiated coverage on shares of SL Green Realty in a research note on Monday, March 17th. They issued a “hold” rating and a $58.00 target price on the stock. Finally, Mizuho upped their price target on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, SL Green Realty presently has an average rating of “Hold” and a consensus target price of $69.87.

SL Green Realty Price Performance

Shares of NYSE SLG opened at $59.49 on Tuesday. The business has a 50 day moving average price of $63.27 and a two-hundred day moving average price of $69.06. SL Green Realty Corp. has a fifty-two week low of $47.22 and a fifty-two week high of $82.81. The firm has a market cap of $4.24 billion, a PE ratio of 743.59, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. Sell-side analysts expect that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.2575 per share. This is a boost from SL Green Realty’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.03 annualized dividend and a dividend yield of 1.73%. SL Green Realty’s dividend payout ratio (DPR) is presently 3,862.50%.

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.