Louisiana State Employees Retirement System Takes Position in SL Green Realty Corporation $SLG

Louisiana State Employees Retirement System acquired a new stake in SL Green Realty Corporation (NYSE:SLG) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 31,600 shares of the real estate investment trust’s stock, valued at approximately $1,167,000.

A number of other large investors also recently modified their holdings of SLG. AQR Capital Management LLC lifted its stake in SL Green Realty by 74.8% in the 1st quarter. AQR Capital Management LLC now owns 26,883 shares of the real estate investment trust’s stock worth $1,519,000 after purchasing an additional 11,506 shares in the last quarter. United Services Automobile Association purchased a new position in shares of SL Green Realty during the 1st quarter valued at $253,000. Empowered Funds LLC grew its position in shares of SL Green Realty by 10.9% during the 1st quarter. Empowered Funds LLC now owns 7,374 shares of the real estate investment trust’s stock valued at $425,000 after purchasing an additional 722 shares in the last quarter. Creative Planning bought a new position in shares of SL Green Realty in the second quarter worth $421,000. Finally, California Public Employees Retirement System increased its holdings in shares of 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 purchasing an additional 5,789 shares during the period. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Stock Down 0.1%

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

SL Green Realty Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SLG shares. Weiss Ratings raised SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. upped their target price on SL Green Realty from $49.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Truist Financial raised their price target on SL Green Realty from $44.00 to $46.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Evercore reiterated an “outperform” rating and set a $50.00 price target on shares of SL Green Realty in a research report on Monday, June 8th. Finally, Citigroup decreased their price objective on shares of 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. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.90.

SL Green Realty 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.