SL Green Realty Corp. (NYSE:SLG) Stake Boosted by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its position in shares of SL Green Realty Corp. (NYSE:SLG) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,845 shares of the real estate investment trust’s stock after buying an additional 4,002 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.11% of SL Green Realty worth $3,110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Phocas Financial Corp. acquired a new position in SL Green Realty in the 4th quarter worth approximately $3,425,000. Wellington Management Group LLP acquired a new stake in shares of SL Green Realty in the third quarter worth $38,666,000. Cyndeo Wealth Partners LLC purchased a new position in shares of SL Green Realty during the fourth quarter valued at $4,593,000. Raymond James Financial Services Advisors Inc. acquired a new position in SL Green Realty during the fourth quarter valued at $491,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in SL Green Realty by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 994,094 shares of the real estate investment trust’s stock worth $37,080,000 after acquiring an additional 26,465 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SL Green Realty

In other news, Director Carol N. Brown sold 5,118 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $44.37, for a total value of $227,085.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

SL Green Realty Price Performance

Shares of NYSE:SLG opened at $50.61 on Friday. The stock has a market capitalization of $3.33 billion, a P/E ratio of -6.13, a P/E/G ratio of 1.38 and a beta of 1.71. The business has a 50-day moving average of $50.58 and a two-hundred day moving average of $43.83. SL Green Realty Corp. has a fifty-two week low of $20.51 and a fifty-two week high of $55.75. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.23.

SL Green Realty Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, April 29th. This represents a $3.00 dividend on an annualized basis and a yield of 5.93%. SL Green Realty’s payout ratio is currently -36.32%.

Analyst Ratings Changes

Several equities analysts have weighed in on SLG shares. Morgan Stanley lifted their target price on SL Green Realty from $41.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Evercore ISI boosted their price objective on shares of SL Green Realty from $46.00 to $47.00 and gave the company an “underperform” rating in a research report on Monday, April 22nd. Truist Financial lowered shares of SL Green Realty from a “buy” rating to a “hold” rating and upped their price objective for the company from $44.00 to $47.00 in a research note on Tuesday, January 16th. TheStreet raised shares of SL Green Realty from a “d+” rating to a “c-” rating in a research note on Wednesday, January 10th. Finally, StockNews.com raised shares of SL Green Realty to a “sell” rating in a research note on Saturday, February 3rd. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, SL Green Realty currently has a consensus rating of “Hold” and a consensus target price of $47.00.

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.