California State Teachers Retirement System Trims Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

California State Teachers Retirement System decreased its holdings in SL Green Realty Corp. (NYSE:SLG) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,019 shares of the real estate investment trust’s stock after selling 1,108 shares during the period. California State Teachers Retirement System owned 0.09% of SL Green Realty worth $4,144,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Walleye Capital LLC bought a new position in shares of SL Green Realty in the fourth quarter valued at approximately $857,000. Wolverine Asset Management LLC bought a new position in shares of SL Green Realty in the fourth quarter valued at approximately $337,000. Charles Schwab Investment Management Inc. boosted its position in shares of SL Green Realty by 12.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust’s stock valued at $96,990,000 after acquiring an additional 159,870 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of SL Green Realty by 8.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust’s stock valued at $5,187,000 after acquiring an additional 6,158 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in shares of SL Green Realty in the fourth quarter valued at approximately $1,832,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Trading Up 4.6%

Shares of SLG opened at $60.02 on Wednesday. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 750.25, a PEG ratio of 5.30 and a beta of 1.59. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. SL Green Realty Corp. has a fifty-two week low of $45.15 and a fifty-two week high of $82.81. The firm has a 50 day moving average price of $54.62 and a 200-day moving average price of $62.61.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.13. The firm had revenue of $144.52 million during the quarter, compared to analyst estimates of $158.44 million. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. As a group, equities research analysts forecast that SL Green Realty Corp. will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $0.2575 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.72%. SL Green Realty’s payout ratio is -735.71%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SLG. Scotiabank cut their price objective on shares of SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Wells Fargo & Company cut their price objective on shares of SL Green Realty from $69.00 to $58.00 and set an “equal weight” rating for the company in a research report on Monday, May 19th. Barclays cut their price objective on shares of SL Green Realty from $76.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SL Green Realty in a research report on Friday, May 23rd. Finally, Piper Sandler dropped their target price on shares of SL Green Realty from $90.00 to $72.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $66.33.

About SL Green Realty

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.