State of New Jersey Common Pension Fund D Grows Position in SL Green Realty Corporation $SLG

State of New Jersey Common Pension Fund D boosted its holdings in SL Green Realty Corporation (NYSE:SLG) by 25.5% in the 4th quarter, HoldingsChannel reports. The fund owned 91,414 shares of the real estate investment trust’s stock after acquiring an additional 18,599 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in SL Green Realty were worth $4,193,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SLG. AQR Capital Management LLC raised its position in SL Green Realty by 74.8% in the first quarter. AQR Capital Management LLC now owns 26,883 shares of the real estate investment trust’s stock worth $1,519,000 after acquiring an additional 11,506 shares in the last quarter. United Services Automobile Association purchased a new position in SL Green Realty in the first quarter worth $253,000. Empowered Funds LLC raised its position in SL Green Realty by 10.9% in the first quarter. Empowered Funds LLC now owns 7,374 shares of the real estate investment trust’s stock worth $425,000 after acquiring an additional 722 shares in the last quarter. Creative Planning purchased a new position in SL Green Realty in the second quarter worth $421,000. Finally, California Public Employees Retirement System raised its position in SL Green Realty by 4.6% in the second quarter. California Public Employees Retirement System now owns 131,528 shares of the real estate investment trust’s stock worth $8,142,000 after acquiring an additional 5,789 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Down 2.0%

SLG opened at $41.99 on Tuesday. The company has a quick ratio of 2.66, a current ratio of 3.03 and a debt-to-equity ratio of 1.19. The firm has a market cap of $3.00 billion, a P/E ratio of -16.73 and a beta of 1.60. SL Green Realty Corporation has a 52 week low of $34.77 and a 52 week high of $66.91. The business’s fifty day simple moving average is $39.02 and its 200 day simple moving average is $43.93.

SL Green Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a dividend of $0.6175 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.47 dividend on an annualized basis and a dividend yield of 5.9%. SL Green Realty’s dividend payout ratio (DPR) is presently -98.41%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Mizuho set a $38.00 price objective on SL Green Realty and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Truist Financial increased their price objective on SL Green Realty from $44.00 to $46.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. UBS Group set a $61.00 price objective on SL Green Realty in a research report on Wednesday, January 14th. Scotiabank set a $52.00 price objective on SL Green Realty and gave the stock a “sector outperform” rating in a research report on Friday, March 13th. Finally, Barclays cut their price objective on SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $51.15.

About SL Green Realty

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.