Public Sector Pension Investment Board Boosts Stake in SL Green Realty Corporation $SLG

Public Sector Pension Investment Board raised its holdings in shares of SL Green Realty Corporation (NYSE:SLG) by 14.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 277,031 shares of the real estate investment trust’s stock after purchasing an additional 34,900 shares during the quarter. Public Sector Pension Investment Board owned 0.39% of SL Green Realty worth $16,569,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SLG. Ethic Inc. raised its stake in shares of SL Green Realty by 2.4% during the 3rd quarter. Ethic Inc. now owns 8,132 shares of the real estate investment trust’s stock worth $486,000 after acquiring an additional 193 shares in the last quarter. MAI Capital Management raised its position in SL Green Realty by 25.9% during the 2nd quarter. MAI Capital Management now owns 988 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 203 shares during the last quarter. Amalgamated Bank lifted its position in SL Green Realty by 1.2% during the second quarter. Amalgamated Bank now owns 20,245 shares of the real estate investment trust’s stock valued at $1,253,000 after purchasing an additional 235 shares during the period. Bessemer Group Inc. boosted its position in SL Green Realty by 67.8% in the 2nd quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 253 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in SL Green Realty by 1.4% during the third quarter. Arizona State Retirement System now owns 21,014 shares of the real estate investment trust’s stock worth $1,257,000 after buying an additional 292 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Piper Sandler cut their price objective on SL Green Realty from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, January 5th. Truist Financial set a $44.00 target price on shares of SL Green Realty in a research note on Tuesday, February 3rd. UBS Group set a $61.00 price target on shares of SL Green Realty in a research note on Wednesday, January 14th. Evercore set a $54.00 price objective on shares of SL Green Realty and gave the company an “outperform” rating in a report on Monday, December 8th. Finally, Zacks Research cut SL Green Realty from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, SL Green Realty presently has a consensus rating of “Hold” and a consensus target price of $54.30.

Insider Activity

In other news, insider Andrew S. Levine sold 1,493 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $45.27, for a total transaction of $67,588.11. Following the transaction, the insider directly owned 7,045 shares of the company’s stock, valued at approximately $318,927.15. The trade was a 17.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc Holliday sold 22,223 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $44.40, for a total value of $986,701.20. Following the completion of the transaction, the chief executive officer directly owned 9,698 shares of the company’s stock, valued at $430,591.20. This represents a 69.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 5.04% of the company’s stock.

SL Green Realty Stock Up 5.0%

SL Green Realty stock opened at $40.49 on Friday. The company has a market capitalization of $2.89 billion, a P/E ratio of -25.15 and a beta of 1.63. The stock has a 50-day simple moving average of $45.25 and a 200-day simple moving average of $51.23. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.22 and a current ratio of 2.66. SL Green Realty Corporation has a fifty-two week low of $36.12 and a fifty-two week high of $66.91.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The business had revenue of $159.82 million during the quarter, compared to analysts’ expectations of $162.73 million. SL Green Realty had a negative net margin of 9.66% and a negative return on equity of 2.44%. The company’s revenue was up 14.5% on a year-over-year basis. During the same period last year, the company posted $1.81 EPS. Equities research analysts expect that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued a dividend of $0.2575 per share. The ex-dividend date was Friday, November 28th. This represents a c) annualized dividend and a dividend yield of 7.6%. SL Green Realty’s payout ratio is presently -191.93%.

SL Green Realty Company Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.