Illinois Municipal Retirement Fund Takes $1.53 Million Position in SL Green Realty Corp. (NYSE:SLG)

Illinois Municipal Retirement Fund acquired a new position in shares of SL Green Realty Corp. (NYSE:SLG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 33,958 shares of the real estate investment trust’s stock, valued at approximately $1,534,000. Illinois Municipal Retirement Fund owned approximately 0.05% of SL Green Realty at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Deutsche Bank AG raised its stake in shares of SL Green Realty by 2,563.6% during the 3rd quarter. Deutsche Bank AG now owns 1,999,279 shares of the real estate investment trust’s stock worth $74,573,000 after purchasing an additional 1,924,221 shares in the last quarter. Wellington Management Group LLP bought a new position in SL Green Realty during the third quarter valued at approximately $38,666,000. Adage Capital Partners GP L.L.C. lifted its stake in SL Green Realty by 65.9% in the third quarter. Adage Capital Partners GP L.L.C. now owns 340,131 shares of the real estate investment trust’s stock valued at $12,687,000 after acquiring an additional 135,131 shares during the last quarter. Moody Aldrich Partners LLC bought a new stake in SL Green Realty in the third quarter worth approximately $5,008,000. Finally, Cyndeo Wealth Partners LLC acquired a new position in shares of SL Green Realty during the 4th quarter worth $4,593,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Buying and Selling

In other SL Green Realty news, Director Carol N. Brown sold 5,118 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $44.37, for a total value of $227,085.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is owned by company insiders.

Analyst Ratings Changes

SLG has been the subject of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $58.00 price objective on shares of SL Green Realty in a research note on Tuesday, March 26th. Morgan Stanley boosted their price target on SL Green Realty from $41.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. TheStreet raised SL Green Realty from a “d+” rating to a “c-” rating in a report on Wednesday, January 10th. StockNews.com upgraded SL Green Realty to a “sell” rating in a report on Saturday, February 3rd. 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 report on Thursday, January 11th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, SL Green Realty presently has an average rating of “Hold” and an average price target of $47.00.

SL Green Realty Stock Down 0.6 %

Shares of SL Green Realty stock opened at $50.58 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.23. The firm has a fifty day moving average price of $50.58 and a two-hundred day moving average price of $43.76. 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 announced 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 annualized dividend and a dividend yield of 5.93%. The ex-dividend date is Monday, April 29th. SL Green Realty’s payout ratio is presently -36.32%.

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.