SL Green Realty Corp. (NYSE:SLG) Stake Cut by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm 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 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SLG. Rosenberg Matthew Hamilton grew its position in SL Green Realty by 9.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 227 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in SL Green Realty by 1.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 13,739 shares of the real estate investment trust’s stock worth $621,000 after buying an additional 255 shares in the last quarter. Arden Trust Co increased its position in SL Green Realty by 1.5% in the 4th quarter. Arden Trust Co now owns 23,935 shares of the real estate investment trust’s stock valued at $1,081,000 after acquiring an additional 356 shares during the period. Gotham Asset Management LLC increased its position in SL Green Realty by 3.6% in the 3rd quarter. Gotham Asset Management LLC now owns 10,526 shares of the real estate investment trust’s stock valued at $393,000 after acquiring an additional 362 shares during the period. Finally, Lido Advisors LLC raised its stake in SL Green Realty by 1.1% during the 3rd quarter. Lido Advisors LLC now owns 36,646 shares of the real estate investment trust’s stock valued at $1,367,000 after acquiring an additional 405 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Price Performance

SLG stock opened at $52.43 on Friday. SL Green Realty Corp. has a one year low of $20.51 and a one year high of $55.75. The firm has a 50-day moving average of $51.40 and a two-hundred day moving average of $44.81. 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 current ratio of 2.96, a quick ratio of 2.23 and a debt-to-equity ratio of 1.01.

SL Green Realty Cuts Dividend

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

Analyst Ratings Changes

Several research analysts have recently issued reports on SLG shares. BMO Capital Markets raised SL Green Realty from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $56.00 to $58.00 in a research note on Thursday, April 18th. Evercore ISI boosted their price target on shares of SL Green Realty from $46.00 to $47.00 and gave the stock an “underperform” rating in a research report on Monday, April 22nd. Piper Sandler reiterated an “overweight” rating and issued a $58.00 price objective on shares of SL Green Realty in a report on Tuesday, March 26th. JPMorgan Chase & Co. boosted their target price on SL Green Realty from $43.00 to $44.00 and gave the stock an “underweight” rating in a report on Thursday, April 25th. Finally, The Goldman Sachs Group increased their price target on SL Green Realty from $30.00 to $36.00 and gave the company a “sell” rating in a research note on Thursday, January 11th. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.00.

SL Green Realty 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.