Louisiana State Employees Retirement System Purchases Shares of 31,600 SL Green Realty Corporation $SLG

Louisiana State Employees Retirement System purchased a new position in shares of SL Green Realty Corporation (NYSE:SLG) during the 1st quarter, Holdings Channel.com reports. The fund purchased 31,600 shares of the real estate investment trust’s stock, valued at approximately $1,167,000.

A number of other hedge funds have also recently made changes to their positions in the business. Integrity Alliance LLC. boosted its stake in shares of SL Green Realty by 4.1% in the 4th quarter. Integrity Alliance LLC. now owns 5,970 shares of the real estate investment trust’s stock valued at $274,000 after purchasing an additional 237 shares in the last quarter. Probity Advisors Inc. raised its position in SL Green Realty by 2.8% in the 4th quarter. Probity Advisors Inc. now owns 10,040 shares of the real estate investment trust’s stock worth $461,000 after purchasing an additional 269 shares during the period. Xponance Inc. raised its position in SL Green Realty by 5.2% in the 3rd quarter. Xponance Inc. now owns 6,264 shares of the real estate investment trust’s stock worth $375,000 after purchasing an additional 308 shares during the period. Empowered Funds LLC lifted its stake in SL Green Realty by 6.2% in the fourth quarter. Empowered Funds LLC now owns 6,220 shares of the real estate investment trust’s stock worth $285,000 after purchasing an additional 361 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in SL Green Realty by 30.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 378 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Trading Down 0.1%

NYSE:SLG opened at $53.38 on Friday. The firm has a market capitalization of $3.81 billion, a P/E ratio of -21.26 and a beta of 1.58. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 1.18. The company has a fifty day moving average of $46.76 and a 200 day moving average of $43.61. SL Green Realty Corporation has a 52 week low of $34.77 and a 52 week high of $66.29.

SL Green Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.6175 per share. This represents a $2.47 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, June 30th. SL Green Realty’s dividend payout ratio is -98.41%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SLG shares. JPMorgan Chase & Co. raised their price objective on SL Green Realty from $49.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft raised SL Green Realty from a “hold” rating to a “buy” rating and lowered their target price for the company from $45.00 to $44.00 in a research note on Wednesday, March 18th. Wells Fargo & Company increased their target price on SL Green Realty from $40.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Citigroup reduced their price target on SL Green Realty from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, March 24th. Finally, Weiss Ratings raised SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Eight research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $50.90.

SL Green Realty Company Profile

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.