Cwm LLC Sells 237 Shares of SL Green Realty Corp. (NYSE:SLG)

Cwm LLC trimmed its stake in SL Green Realty Corp. (NYSE:SLGFree Report) by 12.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,704 shares of the real estate investment trust’s stock after selling 237 shares during the period. Cwm LLC’s holdings in SL Green Realty were worth $119,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its stake in shares of SL Green Realty by 479.1% in the first quarter. Daiwa Securities Group Inc. now owns 113,028 shares of the real estate investment trust’s stock worth $6,231,000 after purchasing an additional 93,511 shares during the period. Janney Montgomery Scott LLC increased its position in shares of SL Green Realty by 12.0% during the first quarter. Janney Montgomery Scott LLC now owns 124,978 shares of the real estate investment trust’s stock valued at $6,890,000 after purchasing an additional 13,412 shares during the period. UniSuper Management Pty Ltd raised its stake in shares of SL Green Realty by 82.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 33,229 shares of the real estate investment trust’s stock valued at $1,832,000 after buying an additional 14,975 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in SL Green Realty by 24.7% during the first quarter. Russell Investments Group Ltd. now owns 799,431 shares of the real estate investment trust’s stock worth $44,067,000 after purchasing an additional 158,268 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of SL Green Realty by 18.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 67,923 shares of the real estate investment trust’s stock worth $3,665,000 after buying an additional 10,704 shares during the period. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of SLG stock opened at $76.62 on Friday. The stock has a market cap of $4.99 billion, a PE ratio of -30.65, a price-to-earnings-growth ratio of 2.12 and a beta of 1.83. The stock has a 50-day moving average of $68.97 and a 200-day moving average of $60.46. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.58 and a quick ratio of 2.59. SL Green Realty Corp. has a one year low of $28.55 and a one year high of $79.08.

SL Green Realty (NYSE:SLGGet Free Report) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing the consensus estimate of $1.21 by ($1.42). SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. The firm had revenue of $229.69 million during the quarter, compared to the consensus estimate of $136.66 million. During the same period in the previous year, the company posted $1.27 EPS. As a group, sell-side analysts expect that SL Green Realty Corp. will post 7.62 earnings per share for the current year.

SL Green Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.25 dividend. The ex-dividend date is Thursday, October 31st. This represents a $3.00 annualized dividend and a dividend yield of 3.92%. SL Green Realty’s dividend payout ratio (DPR) is currently -120.00%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SLG. Evercore ISI upped their price objective on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Wells Fargo & Company raised their target price on SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. Compass Point set a $65.00 price objective on shares of SL Green Realty and gave the stock a “neutral” rating in a report on Friday, October 18th. Barclays upped their target price on shares of SL Green Realty from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Scotiabank boosted their price objective on shares of SL Green Realty from $68.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $65.57.

Read Our Latest Report on SLG

About SL Green Realty

(Free Report)

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.

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

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