New York State Common Retirement Fund Has $2.32 Million Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

New York State Common Retirement Fund grew its position in SL Green Realty Corp. (NYSE:SLG) by 86.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 51,430 shares of the real estate investment trust’s stock after buying an additional 23,826 shares during the period. New York State Common Retirement Fund owned approximately 0.08% of SL Green Realty worth $2,323,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Private Trust Co. NA acquired a new position in SL Green Realty in the fourth quarter valued at about $33,000. Financial Gravity Asset Management Inc. grew its position in shares of SL Green Realty by 3,073.3% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 922 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of SL Green Realty in the 3rd quarter valued at approximately $88,000. Allspring Global Investments Holdings LLC increased 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, Rosenberg Matthew Hamilton raised its holdings in SL Green Realty by 9.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 227 shares during the period. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Price Performance

Shares of SLG opened at $51.27 on Wednesday. The company has a current ratio of 2.96, a quick ratio of 2.23 and a debt-to-equity ratio of 1.01. The company’s fifty day simple moving average is $51.22 and its 200 day simple moving average is $44.72. SL Green Realty Corp. has a 1-year low of $20.51 and a 1-year high of $55.75. The company has a market cap of $3.38 billion, a price-to-earnings ratio of -6.21, a PEG ratio of 1.39 and a beta of 1.72.

SL Green Realty Cuts Dividend

The company also recently announced 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 5.85%. SL Green Realty’s payout ratio is -36.32%.

Insider Activity at SL Green Realty

In other SL Green Realty 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SLG. Deutsche Bank Aktiengesellschaft started coverage on shares of SL Green Realty in a report on Tuesday, January 30th. They issued a “hold” rating and a $50.00 price target for the company. Morgan Stanley increased their target price on SL Green Realty from $41.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Evercore ISI boosted their price target on SL Green Realty from $46.00 to $47.00 and gave the company an “underperform” rating in a report on Monday, April 22nd. Truist Financial cut SL Green Realty from a “buy” rating to a “hold” rating and upped their price objective for the stock from $44.00 to $47.00 in a research report on Tuesday, January 16th. Finally, Scotiabank lifted their target price on SL Green Realty from $40.00 to $43.00 and gave the company a “sector underperform” rating in a research report on Tuesday, April 2nd. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $47.00.

SL Green Realty 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.