Illinois Municipal Retirement Fund Purchases 6,214 Shares of SL Green Realty Corp. (NYSE:SLG)

Illinois Municipal Retirement Fund grew its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 18.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,637 shares of the real estate investment trust’s stock after buying an additional 6,214 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of SL Green Realty worth $2,692,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in SL Green Realty by 50.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock valued at $202,777,000 after acquiring an additional 977,321 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of SL Green Realty by 8.3% during the third 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 purchasing an additional 97,653 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of SL Green Realty by 1.8% during the fourth quarter. Allianz Asset Management GmbH now owns 534,159 shares of the real estate investment trust’s stock valued at $36,280,000 after purchasing an additional 9,299 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of SL Green Realty by 396.3% in the third 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 worth $31,058,000 after purchasing an additional 356,275 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in 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 worth $23,280,000 after buying an additional 37,163 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Stock Down 0.5 %

NYSE:SLG opened at $64.59 on Friday. The company’s 50-day simple moving average is $65.70 and its 200-day simple moving average is $69.61. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. SL Green Realty Corp. has a fifty-two week low of $45.96 and a fifty-two week high of $82.81. The stock has a market capitalization of $4.26 billion, a P/E ratio of 807.43, a P/E/G ratio of 5.30 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, beating the consensus estimate of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. On average, equities analysts anticipate that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SLG shares. Jefferies Financial Group lowered their price objective on shares of SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Compass Point boosted their price target on SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Barclays dropped their price objective on SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $51.00 to $80.00 in a report on Tuesday, December 10th. Finally, Wells Fargo & Company cut their price target on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $71.07.

Insider Activity at SL Green Realty

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

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.