New York State Common Retirement Fund Has $2.32 Million Stock Position in SL Green Realty Corp. (NYSE:SLG)

New York State Common Retirement Fund increased its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 86.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,430 shares of the real estate investment trust's stock after buying an additional 23,826 shares during the quarter. New York State Common Retirement Fund owned about 0.08% of SL Green Realty worth $2,323,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Phocas Financial Corp. acquired a new position in shares of SL Green Realty in the 4th quarter worth approximately $3,425,000. Wellington Management Group LLP acquired a new position in SL Green Realty during the 3rd quarter worth about $38,666,000. Cyndeo Wealth Partners LLC acquired a new position in SL Green Realty in the 4th quarter valued at about $4,593,000. Raymond James Financial Services Advisors Inc. purchased a new stake in SL Green Realty during the fourth quarter worth about $491,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of SL Green Realty by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 994,094 shares of the real estate investment trust's stock worth $37,080,000 after purchasing an additional 26,465 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLG has been the subject of a number of research reports. Truist Financial cut shares of SL Green Realty from a "buy" rating to a "hold" rating and lifted their price objective for the company from $44.00 to $47.00 in a report on Tuesday, January 16th. TheStreet upgraded shares of SL Green Realty from a "d+" rating to a "c-" rating in a report on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of SL Green Realty in a report on Tuesday, January 30th. They set a "hold" rating and a $50.00 price target for the company. Evercore ISI boosted their price target on shares of SL Green Realty from $46.00 to $47.00 and gave the stock an "underperform" rating in a report on Monday, April 22nd. Finally, The Goldman Sachs Group boosted their price target on shares of SL Green Realty from $30.00 to $36.00 and gave the stock a "sell" rating in a report on Thursday, January 11th. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, SL Green Realty currently has an average rating of "Hold" and a consensus target price of $47.00.

SL Green Realty Stock Performance

SLG stock traded down $0.36 on Wednesday, hitting $50.93. The company's stock had a trading volume of 584,680 shares, compared to its average volume of 1,261,304. The firm has a 50 day moving average of $51.32 and a two-hundred day moving average of $44.76. SL Green Realty Corp. has a 1 year low of $20.51 and a 1 year high of $55.75. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of -6.17, a price-to-earnings-growth ratio of 1.39 and a beta of 1.72. The company has a current ratio of 2.96, a quick ratio of 2.23 and a debt-to-equity ratio of 1.01.

SL Green Realty Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a $0.25 dividend. The ex-dividend date is Monday, April 29th. This represents a $3.00 annualized dividend and a yield of 5.89%. SL Green Realty's dividend payout ratio (DPR) is -36.32%.

Insider Activity at SL Green Realty

In related news, Director Carol N. Brown sold 5,118 shares of the company's stock in a transaction on Friday, February 9th. The shares were sold at an average price of $44.37, for a total value of $227,085.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.08% of the stock is owned by insiders.

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.