Strs Ohio Decreases Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

Strs Ohio decreased its position in shares of SL Green Realty Corp. (NYSE:SLG) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,200 shares of the real estate investment trust’s stock after selling 600 shares during the period. Strs Ohio’s holdings in SL Green Realty were worth $596,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Deutsche Bank AG lifted its position in shares of SL Green Realty by 2,563.6% during 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 buying an additional 1,924,221 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of SL Green Realty during the 3rd quarter worth approximately $38,666,000. Bank of New York Mellon Corp grew its stake in SL Green Realty by 4.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,033,136 shares of the real estate investment trust’s stock valued at $38,536,000 after acquiring an additional 45,247 shares during the period. Charles Schwab Investment Management Inc. grew its stake in SL Green Realty by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 994,094 shares of the real estate investment trust’s stock valued at $37,080,000 after acquiring an additional 26,465 shares during the period. Finally, LDR Capital Management LLC grew its stake in SL Green Realty by 1.7% in the 3rd quarter. LDR Capital Management LLC now owns 702,107 shares of the real estate investment trust’s stock valued at $26,189,000 after acquiring an additional 11,500 shares during the period. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays upgraded SL Green Realty from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $35.00 to $48.00 in a report on Wednesday, March 27th. TheStreet raised SL Green Realty from a “d+” rating to a “c-” rating in a research report on Wednesday, January 10th. Piper Sandler reissued an “overweight” rating and set a $58.00 price objective on shares of SL Green Realty in a research report on Tuesday, March 26th. StockNews.com raised SL Green Realty to a “sell” rating in a research report on Saturday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on SL Green Realty in a research note on Tuesday, January 30th. They set a “hold” rating and a $50.00 target price for the company. Six analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $47.00.

SL Green Realty Price Performance

Shares of NYSE SLG opened at $50.58 on Friday. SL Green Realty Corp. has a fifty-two week low of $20.51 and a fifty-two week high of $55.75. The business has a 50 day moving average price of $50.58 and a two-hundred day moving average price of $43.76. The company has a quick ratio of 2.23, a current ratio of 2.96 and a debt-to-equity ratio of 1.01. The firm has a market cap of $3.33 billion, a PE ratio of -6.12, a price-to-earnings-growth ratio of 1.43 and a beta of 1.71.

SL Green Realty Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.25 dividend. The ex-dividend date is Monday, April 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.93%. SL Green Realty’s dividend payout ratio (DPR) is -36.32%.

Insider Activity at SL Green Realty

In related news, Director Carol N. Brown sold 5,118 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $44.37, for a total transaction of $227,085.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.60% of the company’s stock.

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.