Maryland State Retirement & Pension System Purchases 1,916 Shares of SL Green Realty Corp. (NYSE:SLG)

Maryland State Retirement & Pension System grew its position in SL Green Realty Corp. (NYSE:SLG) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,803 shares of the real estate investment trust’s stock after purchasing an additional 1,916 shares during the period. Maryland State Retirement & Pension System’s holdings in SL Green Realty were worth $1,617,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Xponance Inc. increased its position in shares of SL Green Realty by 24.8% in the fourth quarter. Xponance Inc. now owns 5,388 shares of the real estate investment trust’s stock valued at $366,000 after acquiring an additional 1,070 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of SL Green Realty by 13.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 57,780 shares of the real estate investment trust’s stock valued at $3,924,000 after acquiring an additional 6,882 shares during the last quarter. Natixis Advisors LLC increased its position in shares of SL Green Realty by 1.3% in the fourth quarter. Natixis Advisors LLC now owns 21,820 shares of the real estate investment trust’s stock valued at $1,482,000 after acquiring an additional 284 shares during the last quarter. Swiss National Bank increased its position in shares of SL Green Realty by 0.6% in the fourth quarter. Swiss National Bank now owns 127,398 shares of the real estate investment trust’s stock valued at $8,653,000 after acquiring an additional 800 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in shares of SL Green Realty in the fourth quarter valued at about $1,189,000. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Trading Down 1.5 %

Shares of SLG stock opened at $57.40 on Friday. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The stock has a market cap of $4.09 billion, a P/E ratio of 717.55, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. The stock has a 50 day simple moving average of $63.33 and a 200 day simple moving average of $69.03. SL Green Realty Corp. has a 1 year low of $47.22 and a 1 year high of $82.81.

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, beating the consensus estimate of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. On average, research analysts predict 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. Investors of record on Monday, March 31st will be paid a $0.2575 dividend. This is a boost from SL Green Realty’s previous quarterly dividend of $0.25. This represents a $1.03 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Monday, March 31st. SL Green Realty’s payout ratio is 3,862.50%.

Insider Activity at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 2,052 shares in the company, valued at $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SLG has been the topic of a number of recent research reports. Barclays lowered their target price on SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Mizuho lifted their target price on SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Morgan Stanley boosted their price target on SL Green Realty from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 12th. Truist Financial boosted their price target on SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, January 27th. Finally, Compass Point boosted their price target on SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $69.87.

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.