Cerity Partners LLC Lowers Holdings in SL Green Realty Corp. (NYSE:SLG)

Cerity Partners LLC lowered its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 35.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,592 shares of the real estate investment trust’s stock after selling 4,684 shares during the period. Cerity Partners LLC’s holdings in SL Green Realty were worth $597,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SLG. Jones Financial Companies Lllp purchased a new stake in SL Green Realty during the 4th quarter valued at approximately $39,000. Quadrant Capital Group LLC grew its stake in SL Green Realty by 37.4% during the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 208 shares in the last quarter. Versant Capital Management Inc increased its holdings in SL Green Realty by 17.7% in the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 157 shares during the last quarter. Summit Securities Group LLC purchased a new stake in SL Green Realty in the 4th quarter worth $88,000. Finally, Blue Trust Inc. grew its position in shares of SL Green Realty by 106.3% during the fourth quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 857 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of NYSE:SLG opened at $52.30 on Monday. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 653.79, a PEG ratio of 5.30 and a beta of 1.61. SL Green Realty Corp. has a 12 month low of $45.15 and a 12 month high of $82.81. The firm’s 50-day moving average is $58.08 and its 200 day moving average is $66.77.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.13. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. The firm had revenue of $144.52 million for the quarter, compared to the consensus estimate of $158.44 million. Research analysts predict that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be issued a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.97%. SL Green Realty’s payout ratio is presently 3,862.50%.

Insider Buying and Selling

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the business’s 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 directly owns 2,052 shares of the company’s stock, valued at $136,047.60. The trade was a 62.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Bank of America decreased their target price on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. 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 target price for the company. Evercore ISI upgraded shares of SL Green Realty from an “in-line” rating to an “outperform” rating and reduced their price target for the stock from $74.00 to $73.00 in a research report on Monday, March 17th. Scotiabank lowered their price objective on shares of SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Finally, Mizuho lifted their price objective on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $69.87.

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.