Employees Retirement System of Texas Takes $3.53 Million Position in SL Green Realty Corporation $SLG

Employees Retirement System of Texas purchased a new position in shares of SL Green Realty Corporation (NYSE:SLG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 57,000 shares of the real estate investment trust’s stock, valued at approximately $3,528,000. Employees Retirement System of Texas owned approximately 0.08% of SL Green Realty as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. increased its position in shares of SL Green Realty by 67.8% during the 2nd quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 253 shares during the last quarter. MAI Capital Management boosted its holdings in shares of SL Green Realty by 25.9% in the 2nd quarter. MAI Capital Management now owns 988 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 203 shares during the last quarter. Allworth Financial LP grew its stake in shares of SL Green Realty by 2,432.8% in the second quarter. Allworth Financial LP now owns 1,697 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 1,630 shares in the last quarter. State of Wyoming acquired a new position in SL Green Realty during the first quarter worth $172,000. Finally, Profund Advisors LLC bought a new stake in SL Green Realty during the second quarter worth $210,000. Institutional investors own 89.96% of the company’s stock.

Insider Buying and Selling

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

SL Green Realty Stock Up 1.2%

SLG stock opened at $47.33 on Thursday. SL Green Realty Corporation has a 52 week low of $42.92 and a 52 week high of $79.51. The business has a 50-day simple moving average of $53.46 and a 200 day simple moving average of $57.44. The company has a quick ratio of 2.72, a current ratio of 3.22 and a debt-to-equity ratio of 1.04. The company has a market cap of $3.38 billion, a PE ratio of 4,737.64 and a beta of 1.75.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Thursday, October 16th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.24. The firm had revenue of $244.82 million for the quarter, compared to the consensus estimate of $170.27 million. SL Green Realty had a net margin of 1.75% and a negative return on equity of 0.22%. The business’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 posted $1.26 earnings per share. Sell-side analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a $0.2575 dividend. This represents a c) dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Friday, November 28th. SL Green Realty’s dividend payout ratio (DPR) is 30,900.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on SL Green Realty from $69.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Jefferies Financial Group raised SL Green Realty from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $63.00 in a report on Monday, October 13th. Evercore ISI cut their price target on SL Green Realty from $72.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, October 20th. Piper Sandler reiterated an “overweight” rating on shares of SL Green Realty in a report on Wednesday, October 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of SL Green Realty from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, October 27th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, SL Green Realty has a consensus rating of “Hold” and a consensus price target of $64.33.

SL Green Realty Company 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.