Legal & General Group Plc Makes New $27.34 Million Investment in SL Green Realty Corporation $SLG

Legal & General Group Plc purchased a new position in SL Green Realty Corporation (NYSE:SLG - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 528,180 shares of the real estate investment trust's stock, valued at approximately $27,344,000. Legal & General Group Plc owned about 0.74% of SL Green Realty at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in shares of SL Green Realty by 74.8% in the 1st quarter. AQR Capital Management LLC now owns 26,883 shares of the real estate investment trust's stock valued at $1,519,000 after acquiring an additional 11,506 shares in the last quarter. United Services Automobile Association bought a new stake in SL Green Realty during the first quarter worth approximately $253,000. Empowered Funds LLC grew its holdings in SL Green Realty by 10.9% during the first quarter. Empowered Funds LLC now owns 7,374 shares of the real estate investment trust's stock valued at $425,000 after purchasing an additional 722 shares during the last quarter. Creative Planning acquired a new position in SL Green Realty during the second quarter valued at approximately $421,000. Finally, California Public Employees Retirement System raised its position in shares of SL Green Realty by 4.6% in the second quarter. California Public Employees Retirement System now owns 131,528 shares of the real estate investment trust's stock valued at $8,142,000 after purchasing an additional 5,789 shares during the period. Institutional investors own 89.96% of the company's stock.

SL Green Realty Stock Performance

NYSE SLG opened at $57.65 on Friday. The company's fifty day moving average is $53.57 and its two-hundred day moving average is $45.87. SL Green Realty Corporation has a 52-week low of $34.77 and a 52-week high of $66.29. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.10 and a quick ratio of 3.10. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of -21.12, a P/E/G ratio of 2.49 and a beta of 1.58.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported ($0.38) EPS for the quarter, beating analysts' consensus estimates of ($0.59) by $0.21. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.37%. The business had revenue of $264.00 million during the quarter, compared to analyst estimates of $179.01 million. During the same quarter in the prior year, the business earned $1.63 earnings per share. The firm's revenue for the quarter was up 16.5% on a year-over-year basis. Equities research analysts forecast that SL Green Realty Corporation will post 5.53 EPS for the current year.

SL Green Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.6175 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.47 annualized dividend and a yield of 4.3%. SL Green Realty's dividend payout ratio is -90.48%.

Analyst Ratings Changes

Several research firms recently issued reports on SLG. BMO Capital Markets reaffirmed an "outperform" rating and set a $60.00 price objective (up from $52.00) on shares of SL Green Realty in a report on Monday, July 27th. Truist Financial set a $57.00 target price on shares of SL Green Realty and gave the stock a "hold" rating in a report on Monday, August 24th. Piper Sandler set a $79.00 target price on shares of SL Green Realty and gave the stock an "overweight" rating in a research report on Friday, July 24th. Wall Street Zen cut shares of SL Green Realty from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Finally, Evercore downgraded SL Green Realty from an "outperform" rating to an "in-line" rating and set a $56.00 price target on the stock. in a research report on Monday, July 6th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, SL Green Realty presently has an average rating of "Hold" and an average price target of $56.20.

Insider Activity at SL Green Realty

In other SL Green Realty news, insider Harrison Sitomer sold 23,113 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $57.71, for a total value of $1,333,851.23. Following the completion of the sale, the insider owned 109,468 shares in the company, valued at approximately $6,317,398.28. This trade represents a 17.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.94% of the company's stock.

About SL Green Realty

SL Green Realty Corp. NYSE: SLG is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City's largest office landlords, the company's portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.

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