Teacher Retirement System of Texas increased its position in shares of SL Green Realty Corp. (NYSE:SLG – Get Rating) by 5.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,695 shares of the real estate investment trust's stock after buying an additional 687 shares during the period. Teacher Retirement System of Texas' holdings in SL Green Realty were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLG. Quent Capital LLC bought a new stake in shares of SL Green Realty in the 4th quarter valued at about $72,000. Belpointe Asset Management LLC bought a new stake in SL Green Realty in the first quarter valued at approximately $100,000. Lazard Asset Management LLC lifted its position in shares of SL Green Realty by 11.2% in the fourth quarter. Lazard Asset Management LLC now owns 1,455 shares of the real estate investment trust's stock valued at $104,000 after buying an additional 147 shares during the last quarter. Clearstead Advisors LLC bought a new position in shares of SL Green Realty during the 1st quarter worth approximately $108,000. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in shares of SL Green Realty during the 4th quarter worth approximately $121,000. 84.49% of the stock is owned by institutional investors.
Get SL Green Realty alerts:SL Green Realty Stock Up 1.3 %
Shares of NYSE SLG opened at $50.85 on Wednesday. The stock has a market capitalization of $3.27 billion, a P/E ratio of 11.26, a PEG ratio of 3.67 and a beta of 1.47. The stock's fifty day moving average is $48.66 and its 200 day moving average is $64.87. SL Green Realty Corp. has a 52 week low of $43.93 and a 52 week high of $83.96. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.20 and a current ratio of 2.20.
SL Green Realty (NYSE:SLG – Get Rating) last released its earnings results on Wednesday, July 20th. The real estate investment trust reported ($0.70) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.76). SL Green Realty had a net margin of 40.01% and a return on equity of 6.35%. The firm had revenue of $155.20 million during the quarter, compared to the consensus estimate of $157.74 million. During the same period in the prior year, the business earned $1.65 earnings per share. SL Green Realty's quarterly revenue was down 15.9% compared to the same quarter last year. Sell-side analysts forecast that SL Green Realty Corp. will post 6.75 earnings per share for the current fiscal year.SL Green Realty Announces Dividend
The firm also recently declared a monthly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 29th were paid a $0.3108 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $3.73 annualized dividend and a dividend yield of 7.33%. SL Green Realty's payout ratio is 82.60%.
Analyst Ratings Changes
Several brokerages have issued reports on SLG. The Goldman Sachs Group cut their price target on SL Green Realty from $90.00 to $79.00 and set a "buy" rating for the company in a report on Wednesday, May 25th. Piper Sandler decreased their price target on shares of SL Green Realty to $52.00 in a research note on Friday, July 22nd. Truist Financial cut their price objective on shares of SL Green Realty from $80.00 to $57.00 and set a "hold" rating for the company in a research report on Thursday, June 30th. Morgan Stanley decreased their target price on SL Green Realty from $58.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 19th. Finally, Credit Suisse Group assumed coverage on SL Green Realty in a report on Wednesday, June 22nd. They set a "neutral" rating and a $51.00 price target for the company. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $60.51.
SL Green Realty Profile
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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.
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