SL Green Realty Corp. (NYSE:SLG) Shares Purchased by Oregon Public Employees Retirement Fund

Posted by Defense World Staff on Aug 12th, 2023

Oregon Public Employees Retirement Fund grew its stake in SL Green Realty Corp. (NYSE:SLG – Free Report) by 10.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,700 shares of the real estate investment trust’s stock after purchasing an additional 1,938 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in SL Green Realty were worth $487,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of SL Green Realty by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 9,363,094 shares of the real estate investment trust’s stock valued at $376,022,000 after purchasing an additional 32,617 shares in the last quarter. State Street Corp raised its stake in shares of SL Green Realty by 12.2% in the 1st quarter. State Street Corp now owns 3,857,153 shares of the real estate investment trust’s stock valued at $314,295,000 after purchasing an additional 419,067 shares in the last quarter. Marshall Wace LLP raised its stake in shares of SL Green Realty by 17.0% in the 4th quarter. Marshall Wace LLP now owns 1,527,786 shares of the real estate investment trust’s stock valued at $51,517,000 after purchasing an additional 221,907 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of SL Green Realty by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 1,364,486 shares of the real estate investment trust’s stock valued at $46,010,000 after purchasing an additional 39,694 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of SL Green Realty by 20.6% in the 1st quarter. Wellington Management Group LLP now owns 1,197,334 shares of the real estate investment trust’s stock valued at $97,200,000 after purchasing an additional 204,750 shares in the last quarter. Institutional investors and hedge funds own 85.06% of the company’s stock.

Insiders Place Their Bets

In other SL Green Realty news, Director Betsy S. Atkins sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $21.47, for a total value of $107,350.00. Following the completion of the sale, the director now owns 11,662 shares of the company’s stock, valued at $250,383.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.60% of the company’s stock.

SL Green Realty Stock Performance

Shares of NYSE SLG opened at $34.87 on Friday. SL Green Realty Corp. has a 52-week low of $19.06 and a 52-week high of $51.54. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -4.87, a PEG ratio of 0.63 and a beta of 1.59. The stock’s fifty day simple moving average is $31.05 and its 200 day simple moving average is $29.32.

SL Green Realty (NYSE:SLG – Get Free Report) last released its quarterly earnings data on Thursday, July 20th. The real estate investment trust reported ($5.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($6.96). SL Green Realty had a negative net margin of 50.10% and a negative return on equity of 9.66%. The firm had revenue of $221.07 million for the quarter, compared to analyst estimates of $178.80 million. During the same period in the previous year, the business posted $1.87 EPS. SL Green Realty’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts forecast that SL Green Realty Corp. will post 5.56 earnings per share for the current fiscal year.

SL Green Realty Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be given a $0.2708 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $3.25 dividend on an annualized basis and a dividend yield of 9.32%. SL Green Realty’s dividend payout ratio is currently -45.39%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SLG shares. Morgan Stanley reiterated an “equal weight” rating and set a $21.00 price objective on shares of SL Green Realty in a research note on Wednesday, July 19th. Bank of America increased their price objective on shares of SL Green Realty from $27.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday. BTIG Research dropped their price objective on shares of SL Green Realty from $84.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, June 27th. Truist Financial dropped their price target on shares of SL Green Realty from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, July 25th. Finally, Barclays boosted their price objective on SL Green Realty from $22.00 to $26.00 in a research report on Tuesday, June 27th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $34.27.

Check Out Our Latest Stock Analysis on SLG

About SL Green Realty

(Free Report)

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.