Cetera Investment Advisers Has $259,000 Stock Position in SL Green Realty Corp. (NYSE:SLG)

Cetera Investment Advisers lowered its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 73.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,816 shares of the real estate investment trust's stock after selling 10,319 shares during the quarter. Cetera Investment Advisers' holdings in SL Green Realty were worth $259,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp acquired a new stake in SL Green Realty during the 4th quarter valued at $39,000. Quadrant Capital Group LLC grew its holdings in shares of 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 buying an additional 208 shares in the last quarter. Summit Securities Group LLC acquired a new position in SL Green Realty during the fourth quarter valued at $88,000. FIL Ltd lifted its stake in SL Green Realty by 53.3% in the 4th quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust's stock worth $107,000 after acquiring an additional 550 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in SL Green Realty by 106.3% during the 4th quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock valued at $116,000 after acquiring an additional 857 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SLG shares. Morgan Stanley increased their price target on shares of SL Green Realty from $52.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 12th. Piper Sandler cut their target price on shares of SL Green Realty from $90.00 to $72.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Barclays lowered their price target on shares of SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Jefferies Financial Group started coverage on SL Green Realty in a report on Monday, March 17th. They set a "hold" rating and a $58.00 price objective for the company. Finally, Scotiabank dropped their target price on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, SL Green Realty currently has an average rating of "Hold" and an average target price of $66.33.

SL Green Realty Stock Performance

Shares of SLG stock traded up $0.88 during trading on Wednesday, reaching $60.88. The company had a trading volume of 821,465 shares, compared to its average volume of 843,713. The firm's 50 day simple moving average is $54.62 and its two-hundred day simple moving average is $62.61. SL Green Realty Corp. has a one year low of $45.15 and a one year high of $82.81. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. The company has a market capitalization of $4.34 billion, a PE ratio of 761.00, a PEG ratio of 5.30 and a beta of 1.59.

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

SL Green Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $0.2575 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.69%. SL Green Realty's payout ratio is presently -735.71%.

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.