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

State of New Jersey Common Pension Fund D lifted its stake in shares of SL Green Realty Corporation (NYSE:SLG) by 123.2% in the second quarter, Holdings Channel.com reports. The fund owned 68,102 shares of the real estate investment trust’s stock after acquiring an additional 37,594 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in SL Green Realty were worth $4,216,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SLG. Nuveen LLC bought a new position in shares of SL Green Realty during the first quarter worth about $87,878,000. Vanguard Group Inc. raised its position in shares of SL Green Realty by 2.6% during the first quarter. Vanguard Group Inc. now owns 11,113,302 shares of the real estate investment trust’s stock worth $641,238,000 after acquiring an additional 283,009 shares during the last quarter. Vision Capital Corp bought a new position in shares of SL Green Realty during the first quarter worth about $11,540,000. Aberdeen Group plc raised its position in shares of SL Green Realty by 633.1% during the first quarter. Aberdeen Group plc now owns 162,294 shares of the real estate investment trust’s stock worth $9,364,000 after acquiring an additional 140,157 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of SL Green Realty by 8.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,695,862 shares of the real estate investment trust’s stock worth $97,851,000 after acquiring an additional 130,206 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Carol N. Brown sold 937 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $63.09, for a total transaction of $59,115.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.04% of the company’s stock.

SL Green Realty Trading Up 1.7%

NYSE:SLG opened at $52.75 on Tuesday. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 5,280.48 and a beta of 1.77. The company has a debt-to-equity ratio of 1.04, a quick ratio of 2.72 and a current ratio of 3.22. The firm has a 50-day moving average price of $58.10 and a two-hundred day moving average price of $58.16. SL Green Realty Corporation has a 52 week low of $45.15 and a 52 week high of $82.81.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.24. The business had revenue of $149.67 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. On average, equities analysts expect that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be paid a dividend of $0.2575 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Friday, October 31st. SL Green Realty’s payout ratio is presently 30,900.00%.

Wall Street Analysts Forecast Growth

SLG has been the subject of a number of analyst reports. LADENBURG THALM/SH SH initiated coverage on SL Green Realty in a research report on Monday, October 13th. They set a “neutral” rating and a $63.00 price objective for the company. Citigroup raised SL Green Realty from a “neutral” rating to a “buy” rating and raised their target price for the stock from $65.00 to $70.00 in a research note on Friday, September 12th. JPMorgan Chase & Co. raised their target price on SL Green Realty from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Scotiabank set a $66.00 target price on SL Green Realty and gave the stock a “sector outperform” rating in a research note on Friday. Finally, Wells Fargo & Company decreased their target price on SL Green Realty from $58.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $64.40.

About SL Green Realty

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.