Louisiana State Employees Retirement System Makes New Investment in SL Green Realty Corp. (NYSE:SLG)

Louisiana State Employees Retirement System bought a new position in shares of SL Green Realty Corp. (NYSE:SLG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 32,200 shares of the real estate investment trust’s stock, valued at approximately $1,454,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in SL Green Realty by 2.8% during the second quarter. BlackRock Inc. now owns 11,561,366 shares of the real estate investment trust’s stock worth $347,419,000 after buying an additional 315,294 shares during the period. Vanguard Group Inc. grew its position in shares of SL Green Realty by 0.3% in the third quarter. Vanguard Group Inc. now owns 9,363,094 shares of the real estate investment trust’s stock valued at $376,022,000 after purchasing an additional 32,617 shares during the last quarter. State Street Corp grew its position in shares of SL Green Realty by 10.2% in the second quarter. State Street Corp now owns 4,372,816 shares of the real estate investment trust’s stock valued at $132,562,000 after purchasing an additional 403,257 shares during the last quarter. Deutsche Bank AG grew its position in shares of SL Green Realty by 2,563.6% in the third quarter. Deutsche Bank AG now owns 1,999,279 shares of the real estate investment trust’s stock valued at $74,573,000 after purchasing an additional 1,924,221 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of SL Green Realty by 39.1% in the second quarter. Geode Capital Management LLC now owns 1,424,518 shares of the real estate investment trust’s stock valued at $42,807,000 after purchasing an additional 400,373 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SL Green Realty news, Director Carol N. Brown sold 5,118 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $44.37, for a total transaction of $227,085.66. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Carol N. Brown sold 5,118 shares of the firm’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 filing with the SEC, which is accessible through this link. Also, Director Betsy S. Atkins sold 9,894 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $47.25, for a total transaction of $467,491.50. Following the completion of the transaction, the director now directly owns 6,886 shares in the company, valued at approximately $325,363.50. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

SL Green Realty Trading Up 2.2 %

NYSE:SLG opened at $49.58 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.96 and a debt-to-equity ratio of 1.01. SL Green Realty Corp. has a fifty-two week low of $20.51 and a fifty-two week high of $55.75. The firm’s 50 day moving average is $49.94 and its two-hundred day moving average is $43.24.

SL Green Realty Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date of this dividend is Monday, April 29th. SL Green Realty’s dividend payout ratio is currently -36.32%.

Analyst Ratings Changes

Several research firms have recently commented on SLG. Deutsche Bank Aktiengesellschaft began coverage on shares of SL Green Realty in a research report on Tuesday, January 30th. They issued a “hold” rating and a $50.00 price target on the stock. BMO Capital Markets upgraded shares of SL Green Realty from a “market perform” rating to an “outperform” rating and increased their price target for the company from $56.00 to $58.00 in a research report on Thursday. The Goldman Sachs Group increased their price target on shares of SL Green Realty from $30.00 to $36.00 and gave the company a “sell” rating in a research report on Thursday, January 11th. Scotiabank upped their price objective on shares of SL Green Realty from $40.00 to $43.00 and gave the company a “sector underperform” rating in a research note on Tuesday, April 2nd. Finally, Morgan Stanley upped their price objective on shares of 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. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $47.00.

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.