State of New Jersey Common Pension Fund D Purchases 37,594 Shares of SL Green Realty Corporation $SLG

State of New Jersey Common Pension Fund D boosted its position in SL Green Realty Corporation (NYSE:SLG) by 123.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,102 shares of the real estate investment trust’s stock after acquiring an additional 37,594 shares during the period. State of New Jersey Common Pension Fund D owned 0.10% of SL Green Realty worth $4,216,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SLG. State of Wyoming bought a new position in SL Green Realty during the first quarter worth about $172,000. KBC Group NV lifted its holdings in shares of SL Green Realty by 20.9% during the 1st quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust’s stock valued at $193,000 after purchasing an additional 577 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in SL Green Realty in the 2nd quarter valued at approximately $225,000. Envestnet Portfolio Solutions Inc. lifted its stake in SL Green Realty by 13.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,889 shares of the real estate investment trust’s stock valued at $224,000 after acquiring an additional 466 shares in the last quarter. Finally, United Services Automobile Association bought a new stake in SL Green Realty in the 1st quarter valued at approximately $253,000. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Price Performance

Shares of SLG stock opened at $52.75 on Tuesday. The company has a quick ratio of 2.72, a current ratio of 3.22 and a debt-to-equity ratio of 1.04. SL Green Realty Corporation has a twelve month low of $45.15 and a twelve month high of $82.81. The company has a market cap of $3.76 billion, a P/E ratio of 5,280.48 and a beta of 1.77. The business has a fifty day simple moving average of $58.10 and a 200 day simple moving average of $58.16.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.24. The business had revenue of $149.67 million during the quarter, compared to the consensus estimate of $170.27 million. SL Green Realty had a negative return on equity of 0.22% and a net margin of 1.75%.SL Green Realty’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.26 EPS. On average, sell-side analysts forecast that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be given a $0.2575 dividend. The ex-dividend date is Friday, October 31st. This represents a c) annualized dividend and a yield of 5.9%. SL Green Realty’s dividend payout ratio (DPR) is currently 30,900.00%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SLG shares. JPMorgan Chase & Co. boosted their target price on SL Green Realty from $69.00 to $71.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Bank of America decreased their price objective on SL Green Realty from $64.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, October 17th. New Street Research set a $72.00 price objective on SL Green Realty in a report on Thursday, October 9th. Truist Financial set a $54.00 price objective on SL Green Realty and gave the company a “hold” rating in a report on Tuesday, October 21st. Finally, Jefferies Financial Group raised SL Green Realty from a “neutral” rating to a “buy” rating and upped their price objective for the company from $57.00 to $63.00 in a report on Monday, October 13th. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $64.40.

Insider Buying and Selling

In other SL Green Realty news, Director Carol N. Brown sold 937 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $63.09, for a total value of $59,115.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.04% of the company’s stock.

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.