Louisiana State Employees Retirement System Makes New $1.45 Million Investment in SL Green Realty Corp. (NYSE:SLG)

Louisiana State Employees Retirement System bought a new stake in SL Green Realty Corp. (NYSE:SLG - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 32,200 shares of the real estate investment trust's stock, valued at approximately $1,454,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Rosenberg Matthew Hamilton increased its holdings in shares of SL Green Realty by 9.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust's stock valued at $117,000 after purchasing an additional 227 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of SL Green Realty by 1.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 13,739 shares of the real estate investment trust's stock valued at $621,000 after purchasing an additional 255 shares during the period. Yousif Capital Management LLC grew its holdings in SL Green Realty by 0.8% during the first quarter. Yousif Capital Management LLC now owns 37,024 shares of the real estate investment trust's stock worth $3,006,000 after acquiring an additional 299 shares during the period. Arden Trust Co grew its holdings in SL Green Realty by 1.5% during the fourth quarter. Arden Trust Co now owns 23,935 shares of the real estate investment trust's stock worth $1,081,000 after acquiring an additional 356 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in SL Green Realty by 0.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 55,671 shares of the real estate investment trust's stock worth $1,877,000 after acquiring an additional 359 shares during the period. 89.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Evercore ISI lowered SL Green Realty from an "in-line" rating to an "underperform" rating and set a $44.00 target price on the stock. in a report on Monday, March 18th. Truist Financial lowered SL Green Realty from a "buy" rating to a "hold" rating and lifted their target price for the stock from $44.00 to $47.00 in a report on Tuesday, January 16th. Piper Sandler reaffirmed an "overweight" rating and set a $58.00 target price on shares of SL Green Realty in a report on Tuesday, March 26th. Scotiabank lifted their target price on SL Green Realty from $40.00 to $43.00 and gave the stock a "sector underperform" rating in a report on Tuesday, April 2nd. Finally, TheStreet raised SL Green Realty from a "d+" rating to a "c-" rating in a report on Wednesday, January 10th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $47.00.

SL Green Realty Stock Up 2.2 %

NYSE SLG traded up $1.06 during trading on Friday, reaching $49.58. 1,564,317 shares of the company's stock were exchanged, compared to its average volume of 1,168,460. SL Green Realty Corp. has a fifty-two week low of $20.51 and a fifty-two week high of $55.75. The firm has a market capitalization of $3.21 billion, a PE ratio of -6.00, a P/E/G ratio of 1.34 and a beta of 1.71. The company has a current ratio of 2.96, a quick ratio of 2.23 and a debt-to-equity ratio of 1.01. The company's fifty day simple moving average is $49.94 and its 200-day simple moving average is $43.30.

SL Green Realty Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $3.00 dividend on an annualized basis and a yield of 6.05%. SL Green Realty's payout ratio is presently -36.32%.

Insiders Place Their Bets

In other SL Green Realty news, Director Carol N. Brown sold 5,118 shares of the firm's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $44.37, for a total transaction of $227,085.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Betsy S. Atkins sold 9,894 shares of SL Green Realty stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $47.25, for a total transaction of $467,491.50. Following the completion of the sale, the director now directly owns 6,886 shares in the company, valued at approximately $325,363.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carol N. Brown sold 5,118 shares of SL Green Realty stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $44.37, for a total value of $227,085.66. The disclosure for this sale can be found here. Corporate insiders own 5.60% 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.