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

Cetera Investment Advisers grew its position in SL Green Realty Corp. (NYSE:SLG) by 204.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,959 shares of the real estate investment trust’s stock after buying an additional 11,387 shares during the quarter. Cetera Investment Advisers’ holdings in SL Green Realty were worth $961,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLG. Allspring Global Investments Holdings LLC acquired a new position in SL Green Realty in the 2nd quarter valued at approximately $29,000. Fidelis Capital Partners LLC bought a new stake in shares of SL Green Realty in the 1st quarter valued at $55,000. Rothschild Investment LLC bought a new stake in shares of SL Green Realty in the 2nd quarter valued at $55,000. GAMMA Investing LLC boosted its stake in shares of SL Green Realty by 6.3% in the 1st quarter. GAMMA Investing LLC now owns 3,305 shares of the real estate investment trust’s stock valued at $182,000 after purchasing an additional 196 shares during the last quarter. Finally, Meeder Advisory Services Inc. bought a new stake in shares of SL Green Realty in the 1st quarter valued at $201,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLG has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of SL Green Realty from $44.00 to $51.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. BMO Capital Markets increased their target price on shares of SL Green Realty from $58.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Evercore ISI upgraded shares of SL Green Realty from an “underperform” rating to an “inline” rating and raised their price objective for the company from $55.00 to $66.00 in a research report on Monday, September 16th. Compass Point upgraded shares of SL Green Realty from a “sell” rating to a “neutral” rating and raised their price objective for the company from $35.00 to $60.00 in a research report on Wednesday, September 18th. Finally, Scotiabank lifted their target price on shares of SL Green Realty from $53.00 to $68.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.43.

SL Green Realty Stock Up 3.4 %

SL Green Realty stock opened at $75.13 on Friday. The stock has a market capitalization of $4.89 billion, a PE ratio of -28.14, a price-to-earnings-growth ratio of 1.94 and a beta of 1.83. SL Green Realty Corp. has a 12 month low of $28.55 and a 12 month high of $75.59. The business has a 50 day simple moving average of $67.24 and a 200-day simple moving average of $59.43. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.59 and a quick ratio of 2.59.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings data 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). The firm 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 prior year, the company posted $1.27 earnings per share. On average, analysts anticipate that SL Green Realty Corp. will post 7.61 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently announced 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. This represents a $3.00 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Monday, September 30th. SL Green Realty’s dividend payout ratio (DPR) is presently -112.36%.

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.