State of Alaska Department of Revenue Has $4.73 Million Holdings in SL Green Realty Corp. (NYSE:SLG)

State of Alaska Department of Revenue decreased its position in shares of SL Green Realty Corp. (NYSE:SLG) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,991 shares of the real estate investment trust’s stock after selling 1,938 shares during the period. State of Alaska Department of Revenue owned 0.10% of SL Green Realty worth $4,731,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Daiwa Securities Group Inc. grew its stake in shares of SL Green Realty by 479.1% in the first quarter. Daiwa Securities Group Inc. now owns 113,028 shares of the real estate investment trust’s stock worth $6,231,000 after acquiring an additional 93,511 shares during the last quarter. Janney Montgomery Scott LLC grew its position in SL Green Realty by 12.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 124,978 shares of the real estate investment trust’s stock worth $6,890,000 after purchasing an additional 13,412 shares during the last quarter. UniSuper Management Pty Ltd increased its holdings in shares of SL Green Realty by 82.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 33,229 shares of the real estate investment trust’s stock worth $1,832,000 after purchasing an additional 14,975 shares during the period. Russell Investments Group Ltd. raised its position in shares of SL Green Realty by 24.7% during the first quarter. Russell Investments Group Ltd. now owns 799,431 shares of the real estate investment trust’s stock valued at $44,067,000 after buying an additional 158,268 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of SL Green Realty by 18.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 67,923 shares of the real estate investment trust’s stock valued at $3,665,000 after buying an additional 10,704 shares during the period. 89.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SLG shares. Citigroup upgraded SL Green Realty from a “sell” rating to a “neutral” rating and boosted their price target for the company from $44.00 to $66.00 in a research note on Friday, September 13th. Bank of America upped their target price on SL Green Realty from $59.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $87.00 price target (up previously from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. Evercore ISI increased their price objective on shares of SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Finally, Compass Point set a $65.00 price objective on shares of SL Green Realty and gave the stock a “neutral” rating in a report on Friday, October 18th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $65.57.

SL Green Realty Stock Up 0.9 %

Shares of SLG opened at $77.47 on Wednesday. The business’s 50 day simple moving average is $69.52 and its 200-day simple moving average is $60.92. The company has a market capitalization of $5.04 billion, a P/E ratio of -30.99, a PEG ratio of 2.02 and a beta of 1.83. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.58 and a quick ratio of 2.59. SL Green Realty Corp. has a one year low of $28.55 and a one year high of $79.08.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. The company had revenue of $229.69 million during the quarter, compared to the consensus estimate of $136.66 million. During the same period in the prior year, the firm posted $1.27 earnings per share. As a group, sell-side analysts predict that SL Green Realty Corp. will post 7.61 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a yield of 3.87%. SL Green Realty’s payout ratio is -120.00%.

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.