South Dakota Investment Council Boosts Stock Position in SL Green Realty Corp. (NYSE:SLG)

South Dakota Investment Council increased its stake in SL Green Realty Corp. (NYSE:SLGGet Rating) by 14.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 160,103 shares of the real estate investment trust’s stock after buying an additional 19,670 shares during the period. South Dakota Investment Council owned 0.25% of SL Green Realty worth $11,479,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SLG. Amplius Wealth Advisors LLC purchased a new stake in shares of SL Green Realty in the 4th quarter worth approximately $27,000. AGF Investments LLC purchased a new stake in SL Green Realty during the 3rd quarter valued at $31,000. Marshall Wace North America L.P. purchased a new stake in SL Green Realty during the 1st quarter valued at $72,000. Penserra Capital Management LLC purchased a new stake in SL Green Realty during the 3rd quarter valued at $89,000. Finally, Total Clarity Wealth Management Inc. purchased a new stake in SL Green Realty during the 4th quarter valued at $120,000. Institutional investors own 86.63% of the company’s stock.

SLG has been the topic of several recent analyst reports. Barclays increased their target price on SL Green Realty from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, March 29th. Deutsche Bank Aktiengesellschaft lowered their price target on SL Green Realty from $82.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, April 14th. TheStreet cut SL Green Realty from a “b-” rating to a “c+” rating in a report on Friday, January 28th. Wells Fargo & Company decreased their target price on SL Green Realty from $84.00 to $76.00 in a report on Thursday. Finally, StockNews.com began coverage on SL Green Realty in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, SL Green Realty presently has a consensus rating of “Hold” and an average target price of $83.03.

NYSE:SLG traded down $3.36 on Friday, reaching $69.22. 1,214,022 shares of the company’s stock traded hands, compared to its average volume of 743,140. The stock has a 50-day simple moving average of $77.92 and a 200-day simple moving average of $76.90. The company has a quick ratio of 2.43, a current ratio of 2.36 and a debt-to-equity ratio of 0.97. The firm has a market cap of $4.48 billion, a PE ratio of 10.22, a P/E/G ratio of 5.12 and a beta of 1.39. SL Green Realty Corp. has a 12 month low of $66.50 and a 12 month high of $85.65.

SL Green Realty (NYSE:SLGGet Rating) last announced its quarterly earnings results on Wednesday, April 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.10. The company had revenue of $187.96 million during the quarter, compared to analysts’ expectations of $163.65 million. SL Green Realty had a return on equity of 9.58% and a net margin of 57.70%. SL Green Realty’s quarterly revenue was down 16.9% on a year-over-year basis. During the same period last year, the business earned $1.78 earnings per share. On average, equities analysts anticipate that SL Green Realty Corp. will post 6.83 earnings per share for the current year.

The company also recently declared a monthly dividend, which will be paid on Monday, May 16th. Investors of record on Friday, April 29th will be given a dividend of $0.3108 per share. This represents a $3.73 annualized dividend and a dividend yield of 5.39%. The ex-dividend date is Thursday, April 28th. SL Green Realty’s payout ratio is 55.08%.

In related news, Director Edwin T. Burton III sold 3,476 shares of the business’s stock in a transaction that occurred on Thursday, February 17th. The stock was sold at an average price of $81.40, for a total transaction of $282,946.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Craig M. Hatkoff sold 3,560 shares of the business’s stock in a transaction that occurred on Monday, February 14th. The stock was sold at an average price of $77.31, for a total value of $275,223.60. The disclosure for this sale can be found here. 3.99% of the stock is currently owned by insiders.

SL Green Realty Profile (Get Rating)

SL Green Realty Corp., an S&P 500 company and 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 December 31, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet.

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Institutional Ownership by Quarter for SL Green Realty (NYSE:SLG)

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