SL Green Realty Corporation $SLG Stock Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of SL Green Realty Corporation (NYSE:SLG) by 358.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,100 shares of the real estate investment trust’s stock after buying an additional 46,200 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in SL Green Realty were worth $2,891,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of SL Green Realty by 15.9% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 3,501 shares of the real estate investment trust’s stock worth $171,000 after acquiring an additional 481 shares in the last quarter. Moody Aldrich Partners LLC lifted its holdings in shares of SL Green Realty by 63.3% during the 3rd quarter. Moody Aldrich Partners LLC now owns 126,982 shares of the real estate investment trust’s stock valued at $6,212,000 after purchasing an additional 49,212 shares in the last quarter. Asset Management One Co. Ltd. grew its position in shares of SL Green Realty by 6.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 105,474 shares of the real estate investment trust’s stock valued at $5,160,000 after purchasing an additional 6,435 shares during the period. Summit Place Financial Advisors LLC acquired a new position in shares of SL Green Realty in the 3rd quarter valued at approximately $1,478,000. Finally, Probity Advisors Inc. grew its position in shares of SL Green Realty by 6.1% in the 3rd quarter. Probity Advisors Inc. now owns 11,546 shares of the real estate investment trust’s stock valued at $565,000 after purchasing an additional 665 shares during the period. 89.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SLG has been the topic of a number of research analyst reports. Evercore set a $60.00 price objective on shares of SL Green Realty in a report on Monday, September 21st. Mizuho set a $53.00 target price on shares of SL Green Realty in a research note on Tuesday, September 8th. BMO Capital Markets reiterated an “outperform” rating and set a $60.00 target price (up from $52.00) on shares of SL Green Realty in a report on Monday, July 27th. Wells Fargo & Company dropped their price target on SL Green Realty from $56.50 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Truist Financial dropped their price target on SL Green Realty from $57.00 to $48.00 and set a “hold” rating on the stock in a research note on Tuesday, October 27th. Six 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 company. Based on data from MarketBeat.com, SL Green Realty has a consensus rating of “Hold” and an average target price of $54.35.

Insiders Place Their Bets

In other news, insider Harrison Sitomer sold 23,113 shares of SL Green Realty stock in a transaction on Friday, August 21st. The stock was sold at an average price of $57.71, for a total transaction of $1,333,851.23. Following the completion of the sale, the insider owned 109,468 shares of the company’s stock, valued at approximately $6,317,398.28. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.94% of the company’s stock.

SL Green Realty Stock Performance

Shares of NYSE SLG opened at $50.48 on Tuesday. The stock has a 50 day moving average price of $51.22 and a 200 day moving average price of $46.86. SL Green Realty Corporation has a 52 week low of $34.77 and a 52 week high of $60.09. The company has a debt-to-equity ratio of 1.11, a quick ratio of 3.10 and a current ratio of 2.92. The stock has a market capitalization of $3.59 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 3.60 and a beta of 1.66.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, October 21st. The real estate investment trust reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $1.26. SL Green Realty had a negative net margin of 12.03% and a negative return on equity of 3.18%. The company had revenue of $165.55 million during the quarter, compared to the consensus estimate of $176.97 million. During the same quarter last year, the firm posted $1.58 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Analysts predict that SL Green Realty Corporation will post 6.29 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.6175 per share. The ex-dividend date was Wednesday, September 30th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.9%. SL Green Realty’s dividend payout ratio (DPR) is -119.90%.

SL Green Realty Profile

SL Green Realty Corp. (NYSE: SLG) is a self-managed real estate investment trust focused primarily on acquiring, owning, managing and redeveloping commercial properties in Manhattan. The company is one of New York City’s prominent office landlords, with a portfolio concentrated in high-quality office buildings and related retail assets.

Its activities include leasing office and retail space, property management, redevelopment and development projects, and providing amenities and services designed to support tenants.