Commonwealth Equity Services LLC Sells 6,863 Shares of SL Green Realty Corp. (NYSE:SLG)

Commonwealth Equity Services LLC reduced its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 23.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,640 shares of the real estate investment trust's stock after selling 6,863 shares during the period. Commonwealth Equity Services LLC's holdings in SL Green Realty were worth $1,538,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Citigroup Inc. grew its holdings in SL Green Realty by 54.6% during the third quarter. Citigroup Inc. now owns 85,587 shares of the real estate investment trust's stock valued at $5,958,000 after purchasing an additional 30,220 shares during the period. Cerity Partners LLC grew its stake in SL Green Realty by 105.3% in the third quarter. Cerity Partners LLC now owns 13,276 shares of the real estate investment trust's stock valued at $924,000 after acquiring an additional 6,810 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of SL Green Realty by 1.6% in the third quarter. The Manufacturers Life Insurance Company now owns 41,419 shares of the real estate investment trust's stock worth $2,883,000 after acquiring an additional 639 shares in the last quarter. FMR LLC raised its position in shares of SL Green Realty by 69.1% during the third quarter. FMR LLC now owns 58,185 shares of the real estate investment trust's stock worth $4,050,000 after purchasing an additional 23,780 shares during the period. Finally, Glenmede Trust Co. NA lifted its holdings in shares of SL Green Realty by 17.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 15,721 shares of the real estate investment trust's stock valued at $1,094,000 after purchasing an additional 2,337 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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SL Green Realty Stock Performance

Shares of SLG traded up $0.01 during trading hours on Tuesday, hitting $57.71. The company had a trading volume of 225,868 shares, compared to its average volume of 850,201. The business has a fifty day moving average of $62.59 and a 200-day moving average of $68.83. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 721.95, a PEG ratio of 5.30 and a beta of 1.82. SL Green Realty Corp. has a 12 month low of $47.22 and a 12 month high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, beating the consensus estimate of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. Equities analysts anticipate that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.2575 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from SL Green Realty's previous quarterly dividend of $0.25. This represents a $1.03 annualized dividend and a yield of 1.78%. SL Green Realty's payout ratio is 3,862.50%.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of the sale, the director now owns 2,052 shares in the company, valued at $136,047.60. The trade was a 62.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SLG. Scotiabank lowered their target price on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Wells Fargo & Company dropped their target price on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. Jefferies Financial Group initiated coverage on SL Green Realty in a research report on Monday, March 17th. They set a "hold" rating and a $58.00 price target for the company. Morgan Stanley lifted their price objective on shares of SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a report on Wednesday, March 12th. Finally, Compass Point increased their target price on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a "neutral" rating in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, SL Green Realty presently has an average rating of "Hold" and a consensus price target of $69.87.

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.