State of New Jersey Common Pension Fund D Sells 7,775 Shares of SL Green Realty Corp. (NYSE:SLG)

State of New Jersey Common Pension Fund D lowered its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 20.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,173 shares of the real estate investment trust's stock after selling 7,775 shares during the period. State of New Jersey Common Pension Fund D's holdings in SL Green Realty were worth $2,100,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UniSuper Management Pty Ltd boosted its position in SL Green Realty by 82.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 33,229 shares of the real estate investment trust's stock worth $1,832,000 after buying an additional 14,975 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of SL Green Realty by 18.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 67,923 shares of the real estate investment trust's stock worth $3,665,000 after purchasing an additional 10,704 shares during the period. Edgestream Partners L.P. grew its stake in shares of SL Green Realty by 40.1% in the second quarter. Edgestream Partners L.P. now owns 122,880 shares of the real estate investment trust's stock worth $6,960,000 after purchasing an additional 35,178 shares during the last quarter. Swedbank AB acquired a new stake in SL Green Realty in the first quarter valued at $4,675,000. Finally, Waterfall Asset Management LLC acquired a new stake in SL Green Realty in the second quarter valued at $3,172,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Price Performance

Shares of NYSE SLG traded down $0.41 during mid-day trading on Friday, reaching $75.64. 471,183 shares of the company were exchanged, compared to its average volume of 963,927. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. The company's 50 day moving average price is $72.72 and its 200 day moving average price is $63.24. SL Green Realty Corp. has a 52 week low of $32.78 and a 52 week high of $82.81. The stock has a market capitalization of $4.99 billion, a PE ratio of -30.26, a PEG ratio of 2.01 and a beta of 1.82.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.21 by ($1.42). SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. The company had revenue of $229.69 million for the quarter, compared to the consensus estimate of $136.66 million. During the same period last year, the business posted $1.27 earnings per share. Sell-side analysts forecast that SL Green Realty Corp. will post 7.61 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a $0.25 dividend. The ex-dividend date was Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.97%. SL Green Realty's dividend payout ratio is currently -120.00%.

Analyst Ratings Changes

SLG has been the topic of several research analyst reports. Compass Point set a $65.00 price objective on SL Green Realty and gave the company a "neutral" rating in a research note on Friday, October 18th. Morgan Stanley raised their price target on shares of SL Green Realty from $47.00 to $50.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 9th. Piper Sandler restated an "overweight" rating and set a $90.00 price objective (up from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. BMO Capital Markets reissued an "outperform" rating and set a $87.00 price target (up from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of SL Green Realty from $44.00 to $51.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $65.57.

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.