Treasurer of the State of North Carolina Cuts Stock Position in SL Green Realty Corp. (NYSE:SLG)

Treasurer of the State of North Carolina decreased its position in shares of SL Green Realty Corp. (NYSE:SLG – Get Rating) by 19.6% in the fourth quarter, HoldingsChannel reports. The fund owned 22,047 shares of the real estate investment trust’s stock after selling 5,388 shares during the quarter. Treasurer of the State of North Carolina’s holdings in SL Green Realty were worth $743,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SLG. Rockefeller Capital Management L.P. grew its stake in shares of SL Green Realty by 255.1% during the third quarter. Rockefeller Capital Management L.P. now owns 806 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 579 shares during the last quarter. CWM LLC boosted its stake in SL Green Realty by 583.3% in the 4th quarter. CWM LLC now owns 1,066 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 910 shares in the last quarter. Baystate Wealth Management LLC grew its position in SL Green Realty by 3,388.9% during the 4th quarter. Baystate Wealth Management LLC now owns 1,256 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 1,220 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in SL Green Realty by 104.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,972 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 1,006 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of SL Green Realty by 21.8% in the fourth quarter. Parallel Advisors LLC now owns 2,238 shares of the real estate investment trust’s stock worth $75,000 after buying an additional 401 shares during the last quarter. 82.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 9,000 shares of SL Green Realty stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $34.31, for a total transaction of $308,790.00. Following the sale, the director now owns 2,052 shares of the company’s stock, valued at approximately $70,404.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Matthew J. Diliberto bought 10,000 shares of the company’s stock in a transaction on Friday, March 24th. The stock was bought at an average cost of $16.44 per share, for a total transaction of $164,400.00. Following the acquisition, the chief financial officer now directly owns 13,000 shares in the company, valued at $213,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Craig M. Hatkoff sold 9,000 shares of the business’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $34.31, for a total transaction of $308,790.00. Following the transaction, the director now directly owns 2,052 shares in the company, valued at approximately $70,404.12. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays downgraded SL Green Realty from an “equal weight” rating to an “underweight” rating and set a $22.00 target price on the stock. in a research report on Thursday, March 23rd. Citigroup cut their price objective on SL Green Realty from $35.00 to $17.00 and set a “sell” rating on the stock in a report on Monday, March 27th. BMO Capital Markets lifted their target price on SL Green Realty from $30.00 to $32.00 in a report on Monday, April 24th. Robert W. Baird increased their price target on shares of SL Green Realty from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, January 30th. Finally, The Goldman Sachs Group initiated coverage on shares of SL Green Realty in a research note on Tuesday, March 21st. They set a “sell” rating and a $18.00 price objective for the company. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.19.

SL Green Realty Price Performance

Shares of SLG stock opened at $22.54 on Monday. SL Green Realty Corp. has a 1-year low of $19.06 and a 1-year high of $63.17. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 1.24. The stock has a 50 day simple moving average of $23.24 and a 200-day simple moving average of $32.28.

SL Green Realty (NYSE:SLG – Get Rating) last released its quarterly earnings results on Thursday, April 20th. The real estate investment trust reported ($0.63) earnings per share for the quarter, missing the consensus estimate of $1.42 by ($2.05). SL Green Realty had a negative return on equity of 2.65% and a negative net margin of 14.56%. The company had revenue of $223.58 million for the quarter, compared to analyst estimates of $193.56 million. During the same quarter last year, the company earned $1.65 EPS. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, equities research analysts anticipate that SL Green Realty Corp. will post 5.49 earnings per share for the current year.

SL Green Realty Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be paid a $0.271 dividend. The ex-dividend date is Tuesday, May 30th. This is a positive change from SL Green Realty’s previous monthly dividend of $0.27. This represents a $3.25 dividend on an annualized basis and a dividend yield of 14.43%. SL Green Realty’s payout ratio is currently -145.74%.

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.