SL Green Realty Corp. (NYSE:SLG) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc cut its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,196 shares of the real estate investment trust’s stock after selling 132 shares during the quarter. CIBC Asset Management Inc’s holdings in SL Green Realty were worth $431,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Rosenberg Matthew Hamilton increased its stake in SL Green Realty by 6.6% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock valued at $161,000 after buying an additional 144 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of SL Green Realty by 4.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock valued at $262,000 after acquiring an additional 148 shares in the last quarter. Xponance Inc. increased its stake in shares of SL Green Realty by 6.6% during the second quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust’s stock worth $240,000 after acquiring an additional 262 shares during the period. Venturi Wealth Management LLC raised its holdings in SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 272 shares in the last quarter. Finally, Vert Asset Management LLC lifted its position in SL Green Realty by 1.5% in the third quarter. Vert Asset Management LLC now owns 26,909 shares of the real estate investment trust’s stock valued at $1,873,000 after purchasing an additional 394 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Trading Up 1.8 %

Shares of NYSE SLG opened at $79.15 on Friday. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of -31.11, a PEG ratio of 2.05 and a beta of 1.82. The business has a 50 day simple moving average of $73.47 and a 200 day simple moving average of $63.88. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58. SL Green Realty Corp. has a 52 week low of $32.78 and a 52 week high of $82.81.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($1.42). SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. The company had revenue of $229.69 million for the quarter, compared to the consensus estimate of $136.66 million. During the same quarter last year, the company posted $1.27 EPS. On average, research analysts predict that SL Green Realty Corp. will post 7.61 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Friday, November 29th. SL Green Realty’s dividend payout ratio is currently -120.00%.

Wall Street Analysts Forecast Growth

SLG has been the subject of a number of analyst reports. Scotiabank increased their target price on SL Green Realty from $68.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Wells Fargo & Company increased their price objective on SL Green Realty from $43.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 11th. The Goldman Sachs Group boosted their target price on shares of SL Green Realty from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Barclays increased their price target on shares of SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI upped their target price on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $65.57.

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.