Public Employees Retirement System of Ohio Acquires Shares of 83,375 SL Green Realty Corporation $SLG

Key Points

• Public Employees Retirement System of Ohio acquired 83,375 shares of SL Green Realty in the second quarter, worth approximately $4.3 million. Institutional investors and hedge funds collectively own 89.96% of the REIT.
• SL Green reported quarterly revenue of $264 million, up 16.5% year over year, and adjusted losses of $0.38 per share, beating analyst expectations of a $0.59 loss. The company also maintains a quarterly dividend of $0.6175, representing a 4.5% annualized yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $56.83, while SLG shares recently traded near $54.99. The stock also saw insider selling, as Harrison Sitomer sold 23,113 shares for approximately $1.33 million.

Public Employees Retirement System of Ohio acquired a new stake in SL Green Realty Corporation (NYSE:SLG - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 83,375 shares of the real estate investment trust's stock, valued at approximately $4,316,000. Public Employees Retirement System of Ohio owned approximately 0.12% of SL Green Realty at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SLG. BlackRock Inc. acquired a new stake in SL Green Realty in the 2nd quarter valued at $706,881,000. State Street Corp grew its position in shares of SL Green Realty by 1.0% in the second quarter. State Street Corp now owns 4,257,874 shares of the real estate investment trust's stock valued at $264,636,000 after purchasing an additional 41,873 shares during the period. Alyeska Investment Group L.P. increased its stake in shares of SL Green Realty by 25.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 3,041,226 shares of the real estate investment trust's stock worth $139,501,000 after purchasing an additional 617,488 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of SL Green Realty by 62.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust's stock worth $133,862,000 after purchasing an additional 1,117,357 shares in the last quarter. Finally, Cohen & Steers Inc. acquired a new position in shares of SL Green Realty during the 4th quarter worth about $121,675,000. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Stock Down 0.3%

NYSE SLG opened at $54.99 on Friday. SL Green Realty Corporation has a 52 week low of $34.77 and a 52 week high of $66.29. The company has a quick ratio of 3.10, a current ratio of 3.10 and a debt-to-equity ratio of 1.05. The business's fifty day simple moving average is $54.00 and its 200-day simple moving average is $46.31. The firm has a market cap of $3.91 billion, a PE ratio of -20.14, a P/E/G ratio of 2.38 and a beta of 1.60.

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) earnings per share (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 firm 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 firm posted $1.63 earnings per share. SL Green Realty's quarterly revenue was up 16.5% on a year-over-year basis. As a group, equities analysts anticipate that SL Green Realty Corporation will post 5.53 earnings per share for the current year.

SL Green Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.6175 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.47 annualized dividend and a dividend yield of 4.5%. SL Green Realty's dividend payout ratio is -90.48%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SLG. Scotiabank raised their target price on SL Green Realty from $56.00 to $60.00 and gave the company a "sector outperform" rating in a research report on Wednesday, August 5th. Piper Sandler set a $79.00 price target on SL Green Realty and gave the stock an "overweight" rating in a research report on Friday, July 24th. Barclays set a $52.00 price objective on SL Green Realty and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. Wall Street Zen cut shares of SL Green Realty from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. Finally, Evercore lowered shares of SL Green Realty from an "outperform" rating to an "in-line" rating and set a $56.00 target price for the company. in a report on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, SL Green Realty presently has a consensus rating of "Hold" and an average target price of $56.83.

Insider Buying and Selling at SL Green Realty

In other news, insider Harrison Sitomer sold 23,113 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $57.71, for a total transaction of $1,333,851.23. Following the completion of the sale, the insider owned 109,468 shares in the company, valued at $6,317,398.28. This trade represents a 17.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.94% of the stock is currently owned by company insiders.

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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