Cerity Partners LLC Has $924,000 Stock Position in SL Green Realty Corp. (NYSE:SLG)

Cerity Partners LLC lifted its position in shares of SL Green Realty Corp. (NYSE:SLG) by 105.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,276 shares of the real estate investment trust’s stock after acquiring an additional 6,810 shares during the quarter. Cerity Partners LLC’s holdings in SL Green Realty were worth $924,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of SL Green Realty by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock valued at $88,275,000 after purchasing an additional 97,653 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of SL Green Realty by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust’s stock valued at $56,350,000 after purchasing an additional 88,309 shares during the period. Bank of New York Mellon Corp grew its position in SL Green Realty by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 810,490 shares of the real estate investment trust’s stock valued at $45,906,000 after purchasing an additional 14,167 shares during the period. Federated Hermes Inc. lifted its position in SL Green Realty by 8.2% in the 2nd quarter. Federated Hermes Inc. now owns 433,896 shares of the real estate investment trust’s stock valued at $24,576,000 after acquiring an additional 32,985 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in SL Green Realty by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 234,858 shares of the real estate investment trust’s stock valued at $13,302,000 after purchasing an additional 3,255 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Down 1.0 %

SLG stock opened at $73.66 on Friday. The stock has a fifty day moving average of $74.93 and a 200-day moving average of $65.67. 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 fifty-two week low of $40.30 and a fifty-two week high of $82.81. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of -29.46, a PEG ratio of 3.61 and a beta of 1.81.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data 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). SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. The business had revenue of $229.69 million during the quarter, compared to analysts’ expectations of $136.66 million. During the same quarter last year, the business posted $1.27 EPS. As a group, equities research analysts predict that SL Green Realty Corp. will post 7.6 earnings per share for the current year.

SL Green Realty Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Friday, November 29th. SL Green Realty’s payout ratio is presently -120.00%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SLG. Scotiabank raised their target price on SL Green Realty from $68.00 to $80.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Morgan Stanley lifted their price objective on shares of SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Piper Sandler reiterated an “overweight” rating and issued a $90.00 target price (up previously from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Jefferies Financial Group raised their price target on shares of SL Green Realty from $70.00 to $72.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $87.00 price objective (up previously from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $66.00.

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.