Illinois Municipal Retirement Fund Purchases 1,329 Shares of SL Green Realty Corp. (NYSE:SLG)

Illinois Municipal Retirement Fund grew its position in SL Green Realty Corp. (NYSE:SLG) by 3.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,287 shares of the real estate investment trust’s stock after acquiring an additional 1,329 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of SL Green Realty worth $1,945,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SLG. Wellington Management Group LLP acquired a new position in SL Green Realty during the 3rd quarter valued at about $38,666,000. Norges Bank bought a new stake in shares of SL Green Realty during the fourth quarter worth approximately $18,664,000. Prospect Financial Services LLC acquired a new position in SL Green Realty in the fourth quarter valued at approximately $12,373,000. Kettle Hill Capital Management LLC bought a new position in SL Green Realty in the fourth quarter valued at approximately $11,832,000. Finally, Allianz Asset Management GmbH grew its holdings in SL Green Realty by 148.0% during the 4th quarter. Allianz Asset Management GmbH now owns 259,027 shares of the real estate investment trust’s stock worth $11,700,000 after acquiring an additional 154,578 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on SLG shares. StockNews.com raised shares of SL Green Realty to a “sell” rating in a research note on Wednesday, May 8th. Citigroup boosted their price target on shares of SL Green Realty from $31.00 to $37.00 and gave the company a “sell” rating in a report on Thursday, June 13th. Barclays upgraded shares of SL Green Realty from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $35.00 to $48.00 in a research report on Wednesday, March 27th. Scotiabank upgraded SL Green Realty from a “sector underperform” rating to a “sector perform” rating and lifted their target price for the stock from $43.00 to $53.00 in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. increased their price target on SL Green Realty from $43.00 to $44.00 and gave the stock an “underweight” rating in a report on Thursday, April 25th. Six analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, SL Green Realty has a consensus rating of “Hold” and an average price target of $45.38.

SL Green Realty Stock Performance

NYSE:SLG traded up $0.84 during trading on Friday, reaching $61.72. The company’s stock had a trading volume of 1,023,230 shares, compared to its average volume of 622,144. SL Green Realty Corp. has a 12 month low of $28.55 and a 12 month high of $63.06. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of -7.47, a price-to-earnings-growth ratio of 1.14 and a beta of 1.83. The firm has a 50 day moving average of $54.34 and a 200-day moving average of $50.48. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.96 and a current ratio of 2.96.

SL Green Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, June 28th. This represents a $3.00 annualized dividend and a dividend yield of 4.86%. SL Green Realty’s payout ratio is -36.32%.

SL Green Realty 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.