State of Alaska Department of Revenue Purchases 5,928 Shares of SL Green Realty Corp. (NYSE:SLG)

State of Alaska Department of Revenue boosted its position in SL Green Realty Corp. (NYSE:SLG) by 8.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 73,919 shares of the real estate investment trust’s stock after acquiring an additional 5,928 shares during the period. State of Alaska Department of Revenue owned 0.11% of SL Green Realty worth $5,019,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in SL Green Realty by 5.4% in the 2nd quarter. AQR Capital Management LLC now owns 11,062 shares of the real estate investment trust’s stock valued at $621,000 after purchasing an additional 569 shares during the period. Cetera Investment Advisers grew its holdings in shares of SL Green Realty by 204.4% during the second quarter. Cetera Investment Advisers now owns 16,959 shares of the real estate investment trust’s stock valued at $961,000 after buying an additional 11,387 shares during the last quarter. GAMMA Investing LLC increased its position in shares of SL Green Realty by 16.7% during the third quarter. GAMMA Investing LLC now owns 3,989 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 571 shares in the last quarter. Vert Asset Management LLC increased its position in shares of SL Green Realty by 1.5% during the third quarter. Vert Asset Management LLC now owns 26,909 shares of the real estate investment trust’s stock worth $1,873,000 after acquiring an additional 394 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of SL Green Realty by 363.2% in the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 632 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Stock Down 1.2 %

SLG opened at $65.97 on Friday. SL Green Realty Corp. has a twelve month low of $42.10 and a twelve month high of $82.81. The company’s 50-day moving average price is $68.49 and its two-hundred day moving average price is $69.49. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 824.59, a PEG ratio of 5.54 and a beta of 1.82. The company has a quick ratio of 2.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.90.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 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%. As a group, equities analysts expect that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be given a dividend of $0.2575 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.09 dividend on an annualized basis and a dividend yield of 4.68%. SL Green Realty’s dividend payout ratio is presently 3,862.50%.

Insider Transactions at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $66.30, for a total transaction of $229,066.50. Following the sale, the director now directly owns 2,052 shares in the company, valued at approximately $136,047.60. This represents a 62.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SLG shares. Mizuho boosted their price objective on SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Bank of America decreased their price target on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Truist Financial raised their price objective on SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, January 27th. Piper Sandler reiterated an “overweight” rating and issued a $90.00 target price (up previously from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Finally, 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 research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, SL Green Realty has a consensus rating of “Hold” and an average price target of $71.07.

SL Green Realty 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.