Illinois Municipal Retirement Fund Invests $1.53 Million in SL Green Realty Corp. (NYSE:SLG)

Illinois Municipal Retirement Fund acquired a new stake in SL Green Realty Corp. (NYSE:SLG - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 33,958 shares of the real estate investment trust's stock, valued at approximately $1,534,000. Illinois Municipal Retirement Fund owned approximately 0.05% of SL Green Realty at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Private Trust Co. NA bought a new position in shares of SL Green Realty during the 4th quarter valued at $33,000. Financial Gravity Asset Management Inc. lifted its holdings in shares of SL Green Realty by 3,073.3% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 922 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of SL Green Realty during the 3rd quarter valued at $88,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of SL Green Realty by 122.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the real estate investment trust's stock valued at $102,000 after buying an additional 1,502 shares during the period. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of SL Green Realty by 9.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust's stock valued at $117,000 after buying an additional 227 shares during the period. 89.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SLG has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on SL Green Realty in a report on Tuesday, January 30th. They set a "hold" rating and a $50.00 price target on the stock. TheStreet raised SL Green Realty from a "d+" rating to a "c-" rating in a report on Wednesday, January 10th. Truist Financial cut SL Green Realty from a "buy" rating to a "hold" rating and raised their target price for the stock from $44.00 to $47.00 in a report on Tuesday, January 16th. JPMorgan Chase & Co. raised their target price on SL Green Realty from $43.00 to $44.00 and gave the stock an "underweight" rating in a report on Thursday. Finally, Morgan Stanley raised their target price on SL Green Realty from $41.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, March 28th. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, SL Green Realty currently has an average rating of "Hold" and an average price target of $47.00.

Insider Activity

In other 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 is accessible through this hyperlink. Company insiders own 5.60% of the company's stock.

SL Green Realty Price Performance

Shares of SL Green Realty stock traded down $0.27 during trading on Friday, reaching $50.61. 996,426 shares of the stock traded hands, compared to its average volume of 1,161,851. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of -6.13, a P/E/G ratio of 1.39 and a beta of 1.71. The business has a fifty day simple moving average of $50.58 and a two-hundred day simple moving average of $43.83. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.23. SL Green Realty Corp. has a 52-week low of $20.51 and a 52-week high of $55.75.

SL Green Realty Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders 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 dividend yield of 5.93%. SL Green Realty's payout ratio is -36.32%.

About SL Green Realty

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.