State Board of Administration of Florida Retirement System Sells 6,260 Shares of SL Green Realty Corp. (NYSE:SLG)

State Board of Administration of Florida Retirement System reduced its position in SL Green Realty Corp. (NYSE:SLG) by 5.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,875 shares of the real estate investment trust’s stock after selling 6,260 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in SL Green Realty were worth $8,150,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC boosted its position in shares of SL Green Realty by 47.3% in the second quarter. Rafferty Asset Management LLC now owns 5,642 shares of the real estate investment trust’s stock valued at $451,000 after acquiring an additional 1,812 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of SL Green Realty in the second quarter valued at approximately $255,000. O Shaughnessy Asset Management LLC boosted its position in shares of SL Green Realty by 2,088.2% in the second quarter. O Shaughnessy Asset Management LLC now owns 13,961 shares of the real estate investment trust’s stock valued at $1,117,000 after acquiring an additional 13,323 shares during the period. Commerce Bank bought a new position in shares of SL Green Realty in the second quarter valued at approximately $212,000. Finally, Vestmark Advisory Solutions Inc. bought a new position in shares of SL Green Realty in the second quarter valued at approximately $219,000. Institutional investors own 87.11% of the company’s stock.

SLG stock opened at $68.01 on Tuesday. The company has a market capitalization of $4.72 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 3.44 and a beta of 1.63. SL Green Realty Corp. has a one year low of $40.47 and a one year high of $85.65. The company’s 50 day moving average price is $72.25 and its two-hundred day moving average price is $74.51. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.79 and a current ratio of 2.79.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Tuesday, July 20th. The real estate investment trust reported $1.51 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.11). The business had revenue of $184.61 million for the quarter, compared to analysts’ expectations of $182.52 million. SL Green Realty had a return on equity of 5.84% and a net margin of 32.04%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same period last year, the business posted $0.76 earnings per share. On average, research analysts predict that SL Green Realty Corp. will post 6.59 EPS for the current year.

The firm also recently declared a monthly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be paid a dividend of $0.303 per share. This represents a $3.64 annualized dividend and a dividend yield of 5.35%. The ex-dividend date is Wednesday, September 29th. SL Green Realty’s dividend payout ratio (DPR) is presently 51.20%.

A number of research firms have recently commented on SLG. Barclays began coverage on shares of SL Green Realty in a research report on Wednesday, September 1st. They issued an “overweight” rating and a $81.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their target price on shares of SL Green Realty from $66.00 to $77.00 and gave the company a “hold” rating in a research report on Friday, June 25th. Wolfe Research began coverage on shares of SL Green Realty in a research report on Monday, June 14th. They set a “peer perform” rating and a $90.00 target price for the company. Piper Sandler lifted their target price on shares of SL Green Realty from $75.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, June 14th. Finally, Morgan Stanley lifted their target price on shares of SL Green Realty from $68.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, July 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $71.90.

SL Green Realty Profile

SL Green Realty Corp. operates as a real estate investment trust. The firm engages in the acquisition, development, ownership, management and operation of commercial and residential real estate properties. It operates through the Real Estate, and Debt & Preferred Equity Investments business segments.

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Institutional Ownership by Quarter for SL Green Realty (NYSE:SLG)

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