VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Position in SL Green Realty Corporation $SLG

Key Points

• Virginia Retirement Systems has acquired a new stake in SL Green Realty Corporation during the 2nd quarter, purchasing 12,300 shares valued at approximately $761,000.
• SL Green Realty reported a quarterly EPS of $1.58, exceeding analysts' estimates of $1.34, but had a revenue of $149.67 million which was below expectations.
• The company declared a monthly dividend of $0.2575, with a yield of 6.0%, set to be paid on November 17th.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in SL Green Realty Corporation (NYSE:SLG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,300 shares of the real estate investment trust's stock, valued at approximately $761,000.

Other large investors have also bought and sold shares of the company. State of Wyoming acquired a new position in SL Green Realty in the first quarter valued at approximately $172,000. KBC Group NV raised its holdings in SL Green Realty by 20.9% in the first quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust's stock worth $193,000 after purchasing an additional 577 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in SL Green Realty by 13.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,889 shares of the real estate investment trust's stock worth $224,000 after purchasing an additional 466 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in SL Green Realty in the second quarter worth $225,000. Finally, United Services Automobile Association acquired a new stake in SL Green Realty in the first quarter worth $253,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Trading Up 0.2%

Shares of NYSE:SLG opened at $51.88 on Friday. SL Green Realty Corporation has a 12 month low of $45.15 and a 12 month high of $82.81. The company has a quick ratio of 2.72, a current ratio of 3.22 and a debt-to-equity ratio of 1.04. The company's fifty day simple moving average is $58.13 and its 200 day simple moving average is $58.04. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 5,192.99 and a beta of 1.77.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.24. SL Green Realty had a net margin of 1.75% and a negative return on equity of 0.22%. The business had revenue of $149.67 million for the quarter, compared to analyst estimates of $170.27 million. During the same period last year, the business posted $1.26 earnings per share. The firm's quarterly revenue was up 7.2% on a year-over-year basis. As a group, research analysts forecast that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be paid a $0.2575 dividend. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date is Friday, October 31st. SL Green Realty's payout ratio is presently 30,900.00%.

Insider Transactions at SL Green Realty

In other SL Green Realty news, Director Carol N. Brown sold 937 shares of SL Green Realty stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $63.09, for a total value of $59,115.33. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.04% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on SLG shares. Piper Sandler reiterated an "overweight" rating on shares of SL Green Realty in a report on Wednesday. Scotiabank set a $66.00 target price on shares of SL Green Realty and gave the stock a "sector outperform" rating in a report on Friday. New Street Research set a $72.00 target price on shares of SL Green Realty in a report on Thursday, October 9th. Weiss Ratings reiterated a "sell (d+)" rating on shares of SL Green Realty in a report on Friday. Finally, Jefferies Financial Group upgraded shares of SL Green Realty from a "neutral" rating to a "buy" rating and increased their target price for the stock from $57.00 to $63.00 in a report on Monday, October 13th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $64.67.

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.

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