Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 12,681 Shares of SL Green Realty Corp. (NYSE:SLG)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 50.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,886 shares of the real estate investment trust's stock after buying an additional 12,681 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.06% of SL Green Realty worth $2,573,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Point72 DIFC Ltd bought a new position in SL Green Realty in the third quarter valued at approximately $35,000. Jones Financial Companies Lllp bought a new position in shares of SL Green Realty in the 4th quarter valued at about $39,000. Versant Capital Management Inc increased 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 worth $71,000 after purchasing an additional 157 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of SL Green Realty by 106.3% in the 4th quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock valued at $116,000 after purchasing an additional 857 shares during the period. Finally, Game Plan Financial Advisors LLC acquired a new stake in SL Green Realty in the 4th quarter valued at about $149,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of the sale, the director now owns 2,052 shares of the company's stock, valued at approximately $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.08% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

Several research firms have issued reports on SLG. Mizuho upped their price objective on SL Green Realty from $45.00 to $67.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Evercore ISI raised shares of SL Green Realty from an "in-line" rating to an "outperform" rating and reduced their target price for the company from $74.00 to $73.00 in a research report on Monday, March 17th. JPMorgan Chase & Co. upgraded SL Green Realty from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $51.00 to $80.00 in a research note on Tuesday, December 10th. Truist Financial upped their target price on SL Green Realty from $61.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company reduced their price objective on shares of SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Two 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.com, the stock presently has a consensus rating of "Hold" and an average price target of $69.87.

SL Green Realty Trading Down 1.4 %

Shares of NYSE:SLG traded down $0.80 during trading on Friday, reaching $57.53. The stock had a trading volume of 470,529 shares, compared to its average volume of 853,590. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 719.15, a P/E/G ratio of 5.30 and a beta of 1.82. The firm's fifty day moving average is $62.92 and its 200 day moving average is $68.89. SL Green Realty Corp. has a 52 week low of $47.22 and a 52 week high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 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%. As a group, equities analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.2575 per share. The ex-dividend date is Monday, March 31st. This is a positive change from SL Green Realty's previous quarterly dividend of $0.25. This represents a $1.03 annualized dividend and a yield of 1.79%. SL Green Realty's dividend payout ratio is currently 3,862.50%.

About SL Green Realty

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.