Oregon Public Employees Retirement Fund Acquires 1,337 Shares of SL Green Realty Corp. (NYSE:SLG)

Oregon Public Employees Retirement Fund boosted its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 8.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,612 shares of the real estate investment trust’s stock after purchasing an additional 1,337 shares during the period. Oregon Public Employees Retirement Fund’s holdings in SL Green Realty were worth $1,128,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in SL Green Realty by 50.5% during the third quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock worth $202,777,000 after purchasing an additional 977,321 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of SL Green Realty by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock valued at $88,275,000 after acquiring an additional 97,653 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of SL Green Realty by 1.8% in the 4th quarter. Allianz Asset Management GmbH now owns 534,159 shares of the real estate investment trust’s stock valued at $36,280,000 after acquiring an additional 9,299 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of SL Green Realty by 396.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,170 shares of the real estate investment trust’s stock valued at $31,058,000 after acquiring an additional 356,275 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of SL Green Realty by 12.2% in the 4th quarter. Principal Financial Group Inc. now owns 342,758 shares of the real estate investment trust’s stock valued at $23,280,000 after acquiring an additional 37,163 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Insider Activity at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of the sale, the director now directly owns 2,052 shares of the company’s stock, valued at $136,047.60. The trade was a 62.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on SLG shares. Jefferies Financial Group dropped their price target on SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and increased their price target for the company from $51.00 to $80.00 in a research note on Tuesday, December 10th. Truist Financial increased their price target on SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, January 27th. Bank of America decreased their price objective on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Finally, Barclays decreased their price objective on SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $70.67.

SL Green Realty Stock Performance

Shares of SL Green Realty stock opened at $64.65 on Friday. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average price of $65.63 and a two-hundred day moving average price of $69.69. SL Green Realty Corp. has a 1-year low of $46.83 and a 1-year high of $82.81. The company has a market cap of $4.26 billion, a P/E ratio of 808.06, a PEG ratio of 5.30 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. As a group, analysts anticipate that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $0.2575 dividend. This represents a $3.09 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Friday, February 28th. SL Green Realty’s payout ratio is 3,862.50%.

SL Green Realty 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.