Cwm LLC Trims Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

Cwm LLC cut its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 22.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,024 shares of the real estate investment trust’s stock after selling 573 shares during the quarter. Cwm LLC’s holdings in SL Green Realty were worth $91,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of SLG. Private Trust Co. NA purchased a new position in SL Green Realty during the 4th quarter worth $33,000. Financial Gravity Asset Management Inc. grew its holdings in shares of SL Green Realty by 3,073.3% during the third quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 922 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in SL Green Realty in the 3rd quarter valued at about $88,000. Rosenberg Matthew Hamilton raised its stake in SL Green Realty by 9.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock valued at $117,000 after acquiring an additional 227 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in SL Green Realty by 122.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 1,502 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SLG shares. Evercore ISI upped their price target on SL Green Realty from $46.00 to $47.00 and gave the stock an “underperform” rating in a research note on Monday, April 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $58.00 target price on shares of SL Green Realty in a research note on Tuesday, March 26th. The Goldman Sachs Group lifted their price target on shares of SL Green Realty from $30.00 to $36.00 and gave the stock a “sell” rating in a report on Thursday, January 11th. StockNews.com upgraded SL Green Realty to a “sell” rating in a research note on Saturday, February 3rd. Finally, Morgan Stanley lifted their price target on SL Green Realty from $41.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, March 28th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $47.00.

Insider Buying and Selling

In other news, Director Carol N. Brown sold 5,118 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $44.37, for a total transaction of $227,085.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.08% of the stock is currently owned by corporate insiders.

SL Green Realty Stock Down 2.5 %

Shares of NYSE SLG opened at $51.27 on Wednesday. The stock has a fifty day moving average price of $51.22 and a 200 day moving average price of $44.72. The company has a current ratio of 2.96, a quick ratio of 2.23 and a debt-to-equity ratio of 1.01. SL Green Realty Corp. has a 12-month low of $20.51 and a 12-month high of $55.75. The company has a market cap of $3.38 billion, a P/E ratio of -6.21, a P/E/G ratio of 1.39 and a beta of 1.72.

SL Green Realty Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $3.00 annualized dividend and a dividend yield of 5.85%. SL Green Realty’s payout ratio is currently -36.32%.

SL Green Realty Company 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.