Maryland State Retirement & Pension System Sells 304 Shares of SL Green Realty Corp. (NYSE:SLG)

Maryland State Retirement & Pension System trimmed its holdings in SL Green Realty Corp. (NYSE:SLG) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,412 shares of the real estate investment trust’s stock after selling 304 shares during the period. Maryland State Retirement & Pension System’s holdings in SL Green Realty were worth $1,058,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLG. Commonwealth Equity Services LLC boosted its stake in SL Green Realty by 66.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 17,752 shares of the real estate investment trust’s stock valued at $662,000 after purchasing an additional 7,086 shares during the period. Bank of New York Mellon Corp grew its position in SL Green Realty by 4.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,033,136 shares of the real estate investment trust’s stock worth $38,536,000 after acquiring an additional 45,247 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of SL Green Realty by 8.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,270 shares of the real estate investment trust’s stock valued at $1,017,000 after buying an additional 2,064 shares during the period. Allspring Global Investments Holdings LLC increased its position in SL Green Realty by 122.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 1,502 shares during the period. Finally, Tandem Capital Management Corp ADV raised its position in SL Green Realty by 156.3% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 31,265 shares of the real estate investment trust’s stock worth $1,166,000 after purchasing an additional 19,065 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SLG shares. Barclays upgraded shares of SL Green Realty from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $35.00 to $48.00 in a research report on Wednesday, March 27th. Truist Financial cut shares of SL Green Realty from a “buy” rating to a “hold” rating and upped their price target for the company from $44.00 to $47.00 in a research report on Tuesday, January 16th. The Goldman Sachs Group lifted their price objective on SL Green Realty from $30.00 to $36.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. JPMorgan Chase & Co. upped their target price on SL Green Realty from $43.00 to $44.00 and gave the company an “underweight” rating in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on SL Green Realty in a report on Tuesday, January 30th. They issued a “hold” rating and a $50.00 target price for the company. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $47.00.

SL Green Realty Trading Up 2.9 %

SLG opened at $52.43 on Friday. SL Green Realty Corp. has a fifty-two week low of $20.51 and a fifty-two week high of $55.75. The firm has a market capitalization of $3.45 billion, a PE ratio of -6.35, a P/E/G ratio of 1.39 and a beta of 1.72. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.23. The company’s 50-day moving average is $51.40 and its 200 day moving average is $44.81.

SL Green Realty Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, April 29th. This represents a $3.00 annualized dividend and a yield of 5.72%. SL Green Realty’s dividend payout ratio (DPR) is currently -36.32%.

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.