State of New Jersey Common Pension Fund D Has $3.11 Million Stock Position in SL Green Realty Corp. (NYSE:SLG)

State of New Jersey Common Pension Fund D boosted its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 68,845 shares of the real estate investment trust’s stock after buying an additional 4,002 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in SL Green Realty were worth $3,110,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Phocas Financial Corp. bought a new stake in shares of SL Green Realty in the 4th quarter valued at about $3,425,000. Wellington Management Group LLP bought a new position in shares of SL Green Realty during the 3rd quarter worth approximately $38,666,000. Cyndeo Wealth Partners LLC acquired a new position in shares of SL Green Realty during the 4th quarter worth approximately $4,593,000. Raymond James Financial Services Advisors Inc. bought a new stake in SL Green Realty in the 4th quarter valued at $491,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in SL Green Realty by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 994,094 shares of the real estate investment trust’s stock valued at $37,080,000 after purchasing an additional 26,465 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other SL Green Realty news, Director Carol N. Brown sold 5,118 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $44.37, for a total value of $227,085.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.60% of the stock is currently owned by company insiders.

SL Green Realty Price Performance

Shares of NYSE SLG opened at $50.61 on Friday. The business has a fifty day moving average price of $50.58 and a two-hundred day moving average price of $43.83. The stock has a market capitalization of $3.33 billion, a PE ratio of -6.13, a P/E/G ratio of 1.38 and a beta of 1.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.23. SL Green Realty Corp. has a fifty-two week low of $20.51 and a fifty-two week high of $55.75.

SL Green Realty Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date is Monday, April 29th. SL Green Realty’s dividend payout ratio (DPR) is presently -36.32%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. The Goldman Sachs Group upped their price objective on shares of SL Green Realty from $30.00 to $36.00 and gave the company a “sell” rating in a report on Thursday, January 11th. Scotiabank increased their price target on shares of SL Green Realty from $40.00 to $43.00 and gave the company a “sector underperform” rating in a report on Tuesday, April 2nd. BMO Capital Markets upgraded shares of SL Green Realty from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $56.00 to $58.00 in a research report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft started coverage on SL Green Realty in a research report on Tuesday, January 30th. They issued a “hold” rating and a $50.00 target price on the stock. Finally, Barclays raised SL Green Realty from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $35.00 to $48.00 in a report on Wednesday, March 27th. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, SL Green Realty has an average rating of “Hold” and an average price target of $47.00.

SL Green Realty Company 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.