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

State of Alaska Department of Revenue raised its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,919 shares of the real estate investment trust's stock after buying an additional 5,928 shares during the period. State of Alaska Department of Revenue owned about 0.11% of SL Green Realty worth $5,019,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC raised its holdings in shares of SL Green Realty by 272.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 272 shares in the last quarter. Point72 DIFC Ltd bought a new position in SL Green Realty during the third quarter valued at approximately $35,000. Friedenthal Financial purchased a new position in shares of SL Green Realty during the third quarter worth approximately $49,000. Blue Trust Inc. lifted 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. Finally, Versant Capital Management Inc boosted its stake in shares of SL Green Realty by 17.7% in 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 purchasing an additional 157 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Craig M. Hatkoff sold 3,455 shares of the business's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.30, for a total value of $229,066.50. Following the sale, the director now owns 2,052 shares in the company, valued at approximately $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.08% of the company's stock.

SL Green Realty Price Performance

Shares of NYSE:SLG traded down $0.13 during trading on Tuesday, hitting $64.52. 809,270 shares of the company's stock were exchanged, compared to its average volume of 792,405. The business's 50-day simple moving average is $68.02 and its 200 day simple moving average is $69.63. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.21 and a quick ratio of 2.58. SL Green Realty Corp. has a 52-week low of $42.10 and a 52-week high of $82.81. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 806.46, a PEG ratio of 5.49 and a beta of 1.82.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings data 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 net margin of 2.48% and a negative return on equity of 0.10%. As a group, equities analysts predict that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.2575 per share. This represents a $3.09 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend is Friday, January 31st. SL Green Realty's dividend payout ratio (DPR) is presently 3,862.50%.

Analyst Upgrades and Downgrades

SLG has been the subject of several recent research reports. Barclays lowered their price target on shares of SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Compass Point boosted their target price on SL Green Realty from $65.00 to $75.00 and gave the company a "neutral" rating in a research note on Wednesday, December 11th. Bank of America reduced their price target on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Scotiabank boosted their price objective on SL Green Realty from $80.00 to $81.00 and gave the company a "sector perform" rating in a research report on Tuesday, December 10th. Finally, Mizuho raised their target price on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, SL Green Realty has a consensus rating of "Hold" and a consensus target price of $71.07.

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.