State Board of Administration of Florida Retirement System decreased its position in shares of SL Green Realty Corp. (NYSE:SLG - Get Rating) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,524 shares of the real estate investment trust's stock after selling 4,020 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.13% of SL Green Realty worth $3,435,000 as of its most recent SEC filing.
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Several other hedge funds and other institutional investors have also bought and sold shares of SLG. Signaturefd LLC increased its holdings in SL Green Realty by 75.4% during the third quarter. Signaturefd LLC now owns 2,335 shares of the real estate investment trust's stock worth $94,000 after buying an additional 1,004 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of SL Green Realty by 3.1% in the third quarter. Treasurer of the State of North Carolina now owns 27,435 shares of the real estate investment trust's stock valued at $1,102,000 after purchasing an additional 830 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of SL Green Realty by 4.1% in the third quarter. Impax Asset Management Group plc now owns 10,292 shares of the real estate investment trust's stock valued at $413,000 after purchasing an additional 404 shares during the last quarter. Quantinno Capital Management LP acquired a new position in shares of SL Green Realty in the third quarter valued at $328,000. Finally, AXS Investments LLC acquired a new position in shares of SL Green Realty in the third quarter valued at $1,044,000. Institutional investors own 82.00% of the company's stock.
Several equities analysts have commented on SLG shares. Robert W. Baird upped their price objective on shares of SL Green Realty from $38.00 to $43.00 and gave the company a "neutral" rating in a report on Monday, January 30th. Scotiabank cut shares of SL Green Realty from a "sector perform" rating to an "underperform" rating and cut their price objective for the stock from $43.00 to $34.00 in a research report on Tuesday, December 6th. StockNews.com cut shares of SL Green Realty from a "hold" rating to a "sell" rating in a research report on Wednesday, November 9th. TheStreet cut shares of SL Green Realty from a "c" rating to a "d+" rating in a research report on Thursday, October 20th. Finally, Barclays cut their price objective on shares of SL Green Realty from $88.00 to $47.00 and set an "overweight" rating for the company in a research report on Wednesday, December 7th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $47.13.
SL Green Realty stock opened at $38.74 on Friday. SL Green Realty Corp. has a 52-week low of $32.15 and a 52-week high of $83.96. The stock's 50 day moving average price is $36.60 and its two-hundred day moving average price is $40.86. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.34 and a current ratio of 2.64.
SL Green Realty (NYSE:SLG - Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The real estate investment trust reported ($1.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.48 by ($2.49). SL Green Realty had a negative return on equity of 1.62% and a negative net margin of 9.44%. The business had revenue of $197.29 million for the quarter, compared to the consensus estimate of $194.74 million. During the same quarter in the previous year, the company posted $1.52 earnings per share. SL Green Realty's quarterly revenue was up 31.4% on a year-over-year basis. As a group, equities analysts forecast that SL Green Realty Corp. will post 5.49 EPS for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Tuesday, January 31st will be paid a dividend of $0.271 per share. This represents a $3.25 annualized dividend and a yield of 8.39%. The ex-dividend date of this dividend is Monday, January 30th. SL Green Realty's dividend payout ratio (DPR) is presently -218.12%.
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.
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