SL Green Realty Corporation (NYSE:SLG) Shares Acquired by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in SL Green Realty Corporation by 26.1%, acquiring an additional 45,989 shares in the first quarter, bringing its total ownership to 222,138 shares worth approximately $12.8 million.
• Several institutional investors, including Vanguard Group Inc. and Charles Schwab Investment Management Inc., have also increased their holdings in SL Green Realty, with institutional investors now owning 89.96% of the stock.
• Wall Street analysts currently have a consensus rating of "Hold" for SL Green Realty, with a price target of $67.29 amid mixed ratings from multiple firms.

Public Sector Pension Investment Board grew its stake in SL Green Realty Corporation (NYSE:SLG - Free Report) by 26.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 222,138 shares of the real estate investment trust's stock after buying an additional 45,989 shares during the period. Public Sector Pension Investment Board owned 0.31% of SL Green Realty worth $12,817,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norinchukin Bank The lifted its holdings in SL Green Realty by 6.6% during the fourth quarter. Norinchukin Bank The now owns 3,117 shares of the real estate investment trust's stock valued at $212,000 after purchasing an additional 192 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in SL Green Realty by 4.7% during the first quarter. Mackenzie Financial Corp now owns 5,324 shares of the real estate investment trust's stock valued at $307,000 after purchasing an additional 240 shares in the last quarter. KLP Kapitalforvaltning AS lifted its holdings in SL Green Realty by 2.2% during the first quarter. KLP Kapitalforvaltning AS now owns 13,874 shares of the real estate investment trust's stock valued at $804,000 after purchasing an additional 300 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of SL Green Realty by 1.3% in the fourth quarter. Two Sigma Advisers LP now owns 24,316 shares of the real estate investment trust's stock valued at $1,652,000 after buying an additional 301 shares during the last quarter. Finally, Xponance Inc. raised its position in shares of SL Green Realty by 6.6% in the first quarter. Xponance Inc. now owns 5,745 shares of the real estate investment trust's stock valued at $331,000 after buying an additional 357 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SLG shares. Piper Sandler reduced their target price on shares of SL Green Realty from $90.00 to $72.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Barclays dropped their price objective on shares of SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Scotiabank raised shares of SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 price objective for the company in a report on Friday, July 25th. JPMorgan Chase & Co. dropped their price objective on shares of SL Green Realty from $70.00 to $69.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, SL Green Realty currently has a consensus rating of "Hold" and an average target price of $67.29.

SL Green Realty Stock Down 1.9%

Shares of NYSE:SLG traded down $1.04 on Thursday, hitting $54.49. 737,943 shares of the company's stock were exchanged, compared to its average volume of 1,034,076. The firm's 50-day moving average is $60.69 and its 200 day moving average is $59.09. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.85 and a current ratio of 2.72. The company has a market capitalization of $3.89 billion, a PE ratio of -100.91 and a beta of 1.69. SL Green Realty Corporation has a 1-year low of $45.15 and a 1-year high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.26. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%. The company had revenue of $147.54 million during the quarter, compared to analysts' expectations of $171.24 million. During the same quarter in the previous year, the business earned $2.05 earnings per share. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts predict that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The company also recently disclosed a jul 25 dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be paid a $0.2575 dividend. The ex-dividend date is Thursday, July 31st. This represents a yield of 510.0%. SL Green Realty's payout ratio is currently -572.22%.

Insiders Place Their Bets

In other SL Green Realty news, Director Carol N. Brown sold 2,500 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $60.61, for a total value of $151,525.00. Following the completion of the sale, the director owned 937 shares in the company, valued at approximately $56,791.57. The trade was a 72.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.04% of the company's stock.

SL Green Realty Company 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.