Retirement Systems of Alabama lowered its position in SL Green Realty Corp. (NYSE:SLG) by 21.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,702 shares of the real estate investment trust’s stock after selling 31,819 shares during the period. Retirement Systems of Alabama owned about 0.12% of SL Green Realty Corp. worth $12,319,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLG. Checchi Capital Advisers LLC raised its position in SL Green Realty Corp. by 11.3% in the second quarter. Checchi Capital Advisers LLC now owns 1,644 shares of the real estate investment trust’s stock worth $175,000 after buying an additional 167 shares during the last quarter. Conning Inc. raised its position in SL Green Realty Corp. by 0.4% in the second quarter. Conning Inc. now owns 2,270 shares of the real estate investment trust’s stock worth $242,000 after buying an additional 10 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in SL Green Realty Corp. during the first quarter worth about $263,000. Oakbrook Investments LLC raised its position in SL Green Realty Corp. by 13.6% in the second quarter. Oakbrook Investments LLC now owns 6,253 shares of the real estate investment trust’s stock worth $666,000 after buying an additional 750 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in SL Green Realty Corp. by 21.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,449 shares of the real estate investment trust’s stock worth $722,000 after buying an additional 1,340 shares during the last quarter.

Institutional Ownership by Quarter for SL Green Realty Corp. (NYSE:SLG)

Shares of SL Green Realty Corp. (NYSE:SLG) traded down 0.92% on Tuesday, hitting $106.04. The company had a trading volume of 684,950 shares. SL Green Realty Corp. has a 12-month low of $80.12 and a 12-month high of $121.94. The firm has a 50 day moving average of $113.44 and a 200-day moving average of $106.77. The firm has a market capitalization of $10.64 billion, a P/E ratio of 25.22 and a beta of 1.27.

SL Green Realty Corp. (NYSE:SLG) last posted its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $3.39 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.29. The company earned $617.60 million during the quarter, compared to analysts’ expectations of $343.44 million. SL Green Realty Corp. had a return on equity of 5.57% and a net margin of 22.61%. SL Green Realty Corp.’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.62 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, September 28th. This represents a $2.88 annualized dividend and a yield of 2.72%. SL Green Realty Corp.’s dividend payout ratio (DPR) is presently 68.41%.

SLG has been the topic of a number of research analyst reports. TheStreet raised SL Green Realty Corp. from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of SL Green Realty Corp. in a research report on Wednesday, July 20th. BMO Capital Markets increased their price target on SL Green Realty Corp. from $129.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Stifel Nicolaus increased their price target on SL Green Realty Corp. from $117.00 to $121.00 and gave the company a “buy” rating in a research report on Monday, July 25th. Finally, Jefferies Group decreased their price target on SL Green Realty Corp. from $133.00 to $131.00 and set a “buy” rating for the company in a research report on Tuesday, August 23rd. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $119.07.

In related news, Director Craig M. Hatkoff sold 20,500 shares of the stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $115.41, for a total transaction of $2,365,905.00. Following the completion of the transaction, the director now directly owns 7,404 shares of the company’s stock, valued at $854,495.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edwin T. Burton III sold 300 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $116.50, for a total value of $34,950.00. Following the transaction, the director now directly owns 6,579 shares of the company’s stock, valued at $766,453.50. The disclosure for this sale can be found here. Corporate insiders own 3.09% of the company’s stock.

About SL Green Realty Corp.

SL Green Realty Corp. is a self-managed real estate investment trust, with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company acquires, owns, repositions, manages and leases commercial office, retail and multifamily properties in the New York Metropolitan area.

5 Day Chart for NYSE:SLG

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