Cetera Investment Advisers Buys 11,387 Shares of SL Green Realty Corp. (NYSE:SLG)

Cetera Investment Advisers raised its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 204.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,959 shares of the real estate investment trust's stock after acquiring an additional 11,387 shares during the period. Cetera Investment Advisers' holdings in SL Green Realty were worth $961,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in SL Green Realty by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 1,114,957 shares of the real estate investment trust's stock valued at $50,363,000 after purchasing an additional 78,322 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of SL Green Realty by 479.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 113,028 shares of the real estate investment trust's stock valued at $6,231,000 after buying an additional 93,511 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of SL Green Realty by 12.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 124,978 shares of the real estate investment trust's stock valued at $6,890,000 after buying an additional 13,412 shares in the last quarter. UniSuper Management Pty Ltd boosted its position in shares of SL Green Realty by 82.0% during 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 acquiring an additional 14,975 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in SL Green Realty by 24.7% in the first quarter. Russell Investments Group Ltd. now owns 799,431 shares of the real estate investment trust's stock valued at $44,067,000 after acquiring an additional 158,268 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Trading Up 4.8 %

SLG traded up $3.62 during mid-day trading on Friday, hitting $78.77. The stock had a trading volume of 1,182,947 shares, compared to its average volume of 989,950. SL Green Realty Corp. has a 1-year low of $28.55 and a 1-year high of $79.08. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of -29.40, a price-to-earnings-growth ratio of 1.94 and a beta of 1.83. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.59 and a quick ratio of 2.59. The stock's fifty day simple moving average is $67.24 and its 200-day simple moving average is $59.43.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.21 by ($1.42). The business had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. SL Green Realty had a negative net margin of 19.31% and a negative return on equity of 3.92%. During the same period in the previous year, the firm posted $1.27 earnings per share. As a group, research analysts forecast that SL Green Realty Corp. will post 7.61 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.25 per share. The ex-dividend date was Monday, September 30th. This represents a $3.00 annualized dividend and a dividend yield of 3.81%. SL Green Realty's dividend payout ratio is currently -112.36%.

Wall Street Analyst Weigh In

SLG has been the topic of several analyst reports. Wells Fargo & Company upped their target price on shares of SL Green Realty from $43.00 to $63.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 11th. The Goldman Sachs Group increased their price objective on SL Green Realty from $38.00 to $42.00 and gave the company a "sell" rating in a research report on Wednesday, July 31st. Morgan Stanley lifted their target price on SL Green Realty from $47.00 to $50.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 9th. Citigroup raised SL Green Realty from a "sell" rating to a "neutral" rating and upped their price target for the company from $44.00 to $66.00 in a research note on Friday, September 13th. Finally, Scotiabank lifted their price objective on SL Green Realty from $53.00 to $68.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $60.79.

SL Green Realty 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.