Teacher Retirement System of Texas Takes Position in SL Green Realty Corporation (NYSE:SLG)

Teacher Retirement System of Texas bought a new position in SL Green Realty Corporation (NYSE:SLG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,424 shares of the real estate investment trust's stock, valued at approximately $601,000.

Several other hedge funds have also recently bought and sold shares of the business. Norinchukin Bank The grew its position in shares of 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 worth $212,000 after buying an additional 192 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of SL Green Realty by 37.4% during the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock valued at $52,000 after acquiring an additional 208 shares during the period. Natixis Advisors LLC boosted its holdings in shares of SL Green Realty by 1.3% during the fourth quarter. Natixis Advisors LLC now owns 21,820 shares of the real estate investment trust's stock valued at $1,482,000 after acquiring an additional 284 shares during the period. Two Sigma Advisers LP raised its stake in shares of SL Green Realty by 1.3% during 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 purchasing an additional 301 shares in the last quarter. Finally, Mariner LLC raised its stake in shares of SL Green Realty by 2.1% during the fourth quarter. Mariner LLC now owns 18,241 shares of the real estate investment trust's stock valued at $1,239,000 after purchasing an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays cut their price objective on SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price target on SL Green Realty from $70.00 to $69.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Wells Fargo & Company lowered their price target on SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Wall Street Zen cut SL Green Realty from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Finally, Piper Sandler decreased their target price on 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. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $65.60.

Insider Buying and Selling at SL Green Realty

In related 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 transaction of $151,525.00. Following the transaction, the director directly owned 937 shares of the company's stock, valued at approximately $56,791.57. The trade was a 72.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.04% of the stock is owned by company insiders.

SL Green Realty Trading Down 1.8%

SLG traded down $1.11 during midday trading on Friday, reaching $60.19. 1,475,311 shares of the company were exchanged, compared to its average volume of 887,091. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.85 and a current ratio of 2.72. SL Green Realty Corporation has a one year low of $45.15 and a one year high of $82.81. The stock has a market capitalization of $4.29 billion, a P/E ratio of -111.46 and a beta of 1.65. The stock's 50-day simple moving average is $61.06 and its 200 day simple moving average is $60.27.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $147.54 million for the quarter, compared to analysts' expectations of $171.24 million. During the same quarter in the previous year, the business posted $2.05 EPS. SL Green Realty's revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts forecast that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Monday, June 30th. SL Green Realty's dividend payout ratio (DPR) is -572.22%.

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.