Strs Ohio Has $596,000 Position in SL Green Realty Corp. (NYSE:SLG)

Strs Ohio lessened its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 4.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,200 shares of the real estate investment trust’s stock after selling 600 shares during the period. Strs Ohio’s holdings in SL Green Realty were worth $596,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in SL Green Realty by 9.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 75,975 shares of the real estate investment trust’s stock worth $3,432,000 after buying an additional 6,307 shares during the last quarter. Phocas Financial Corp. acquired a new position in SL Green Realty during the fourth quarter worth $3,425,000. Louisiana State Employees Retirement System acquired a new position in SL Green Realty during the fourth quarter worth $1,454,000. Moody Aldrich Partners LLC raised its holdings in SL Green Realty by 13.1% during the fourth quarter. Moody Aldrich Partners LLC now owns 151,825 shares of the real estate investment trust’s stock worth $6,858,000 after buying an additional 17,551 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in 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 worth $621,000 after buying an additional 255 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Activity at SL Green Realty

In related news, Director Carol N. Brown sold 5,118 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $44.37, for a total value of $227,085.66. The sale was disclosed in a filing with the SEC, which is available through this link. 5.60% of the stock is currently owned by insiders.

SL Green Realty Trading Down 0.6 %

Shares of SL Green Realty stock opened at $50.58 on Friday. SL Green Realty Corp. has a 12-month low of $20.51 and a 12-month high of $55.75. The company has a market cap of $3.33 billion, a price-to-earnings ratio of -6.12, a PEG ratio of 1.43 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 50-day moving average price is $50.58 and its 200-day moving average price is $43.76.

SL Green Realty Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date of this dividend is Monday, April 29th. SL Green Realty’s dividend payout ratio is currently -36.32%.

Wall Street Analysts Forecast Growth

SLG has been the subject of several recent analyst reports. Barclays upgraded shares of SL Green Realty from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $35.00 to $48.00 in a research note on Wednesday, March 27th. Piper Sandler reiterated an “overweight” rating and issued a $58.00 target price on shares of SL Green Realty in a research note on Tuesday, March 26th. Evercore ISI upped their target price on shares of SL Green Realty from $46.00 to $47.00 and gave the stock an “underperform” rating in a research note on Monday, April 22nd. BMO Capital Markets upgraded shares of SL Green Realty from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $56.00 to $58.00 in a research note on Thursday, April 18th. Finally, TheStreet upgraded shares of SL Green Realty from a “d+” rating to a “c-” rating in a research note on Wednesday, January 10th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $47.00.

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.