Wipfli Financial Advisors LLC acquired a new stake in shares of SL Green Realty Corp. (NYSE:SLG – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 791 shares of the real estate investment trust’s stock, valued at approximately $32,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of SL Green Realty in the 2nd quarter worth about $25,000. Activest Wealth Management purchased a new position in shares of SL Green Realty in the 3rd quarter worth about $33,000. CWM LLC raised its position in shares of SL Green Realty by 1,050.0% in the 2nd quarter. CWM LLC now owns 736 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 672 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of SL Green Realty in the 2nd quarter worth about $47,000. Finally, Trust Co. of Vermont purchased a new position in shares of SL Green Realty in the 3rd quarter worth about $50,000. Hedge funds and other institutional investors own 82.00% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on SLG. BMO Capital Markets lowered SL Green Realty from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $47.00 to $41.00 in a research report on Tuesday, December 6th. StockNews.com lowered SL Green Realty from a “hold” rating to a “sell” rating in a research report on Wednesday, November 9th. Mizuho decreased their target price on SL Green Realty from $48.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, January 4th. TheStreet lowered SL Green Realty from a “c” rating to a “d+” rating in a research report on Thursday, October 20th. Finally, Morgan Stanley decreased their target price on SL Green Realty from $44.00 to $38.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $48.29.
SL Green Realty Trading Down 2.6 %
SL Green Realty (NYSE:SLG – Get Rating) last announced its quarterly earnings data on Thursday, October 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $162.95 million during the quarter, compared to the consensus estimate of $158.30 million. SL Green Realty had a negative return on equity of 1.34% and a negative net margin of 8.17%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.83 EPS. Analysts predict that SL Green Realty Corp. will post 6.68 EPS for the current year.
SL Green Realty Cuts Dividend
The business also recently disclosed a monthly dividend, which was paid on Tuesday, January 17th. Investors of record on Friday, December 30th were paid a dividend of $0.271 per share. The ex-dividend date was Thursday, December 29th. This represents a $3.25 dividend on an annualized basis and a dividend yield of 8.97%. SL Green Realty’s dividend payout ratio (DPR) is presently -250.00%.
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.
- Get a free copy of the StockNews.com research report on SL Green Realty (SLG)
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