California Public Employees Retirement System Cuts Stock Position in SL Green Realty Corp. (NYSE:SLG)

California Public Employees Retirement System trimmed its position in shares of SL Green Realty Corp. (NYSE:SLGFree Report) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,657 shares of the real estate investment trust’s stock after selling 1,390 shares during the quarter. California Public Employees Retirement System owned 0.18% of SL Green Realty worth $5,315,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its stake in shares of SL Green Realty by 66.4% in the third quarter. Commonwealth Equity Services LLC now owns 17,752 shares of the real estate investment trust’s stock valued at $662,000 after purchasing an additional 7,086 shares during the period. Bank of New York Mellon Corp increased its position in shares of SL Green Realty by 4.6% during the third quarter. Bank of New York Mellon Corp now owns 1,033,136 shares of the real estate investment trust’s stock worth $38,536,000 after acquiring an additional 45,247 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in SL Green Realty by 8.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,270 shares of the real estate investment trust’s stock valued at $1,017,000 after purchasing an additional 2,064 shares during the period. Allspring Global Investments Holdings LLC grew its stake in SL Green Realty by 122.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 1,502 shares in the last quarter. Finally, Tandem Capital Management Corp ADV increased its holdings in SL Green Realty by 156.3% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 31,265 shares of the real estate investment trust’s stock worth $1,166,000 after purchasing an additional 19,065 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SL Green Realty

In other news, Director Carol N. Brown sold 5,118 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.08% of the stock is owned by corporate insiders.

SL Green Realty Trading Down 1.2 %

Shares of SL Green Realty stock opened at $51.47 on Friday. The firm has a fifty day moving average of $51.02 and a two-hundred day moving average of $44.37. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.23 and a current ratio of 2.96. SL Green Realty Corp. has a one year low of $20.51 and a one year high of $55.75.

SL Green Realty Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a $0.25 dividend. The ex-dividend date is Monday, April 29th. This represents a $3.00 dividend on an annualized basis and a yield of 5.83%. SL Green Realty’s payout ratio is currently -36.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SLG shares. BMO Capital Markets raised SL Green Realty from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $56.00 to $58.00 in a research report on Thursday, April 18th. Truist Financial lowered shares of SL Green Realty from a “buy” rating to a “hold” rating and raised their price objective for the company from $44.00 to $47.00 in a report on Tuesday, January 16th. Barclays upgraded shares of SL Green Realty from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $35.00 to $48.00 in a research note on Wednesday, March 27th. The Goldman Sachs Group raised their price target on SL Green Realty from $30.00 to $36.00 and gave the company a “sell” rating in a research note on Thursday, January 11th. Finally, StockNews.com raised SL Green Realty to a “sell” rating in a research report on Saturday, February 3rd. Six equities research 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, SL Green Realty presently has an average rating of “Hold” and a consensus target price of $47.00.

Check Out Our Latest Analysis on SL Green Realty

About SL Green Realty

(Free Report)

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.

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Institutional Ownership by Quarter for SL Green Realty (NYSE:SLG)

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