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

Cwm LLC lowered its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 22.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,024 shares of the real estate investment trust’s stock after selling 573 shares during the period. Cwm LLC’s holdings in SL Green Realty were worth $91,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of SLG. Deutsche Bank AG grew its stake in SL Green Realty by 2,563.6% during the third quarter. Deutsche Bank AG now owns 1,999,279 shares of the real estate investment trust’s stock valued at $74,573,000 after acquiring an additional 1,924,221 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of SL Green Realty in the third quarter worth about $38,666,000. Bank of New York Mellon Corp lifted its position in shares of SL Green Realty by 4.6% in the third quarter. Bank of New York Mellon Corp now owns 1,033,136 shares of the real estate investment trust’s stock worth $38,536,000 after buying an additional 45,247 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in SL Green Realty by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 994,094 shares of the real estate investment trust’s stock valued at $37,080,000 after buying an additional 26,465 shares during the last quarter. Finally, LDR Capital Management LLC grew its holdings in SL Green Realty by 1.7% during the 3rd quarter. LDR Capital Management LLC now owns 702,107 shares of the real estate investment trust’s stock valued at $26,189,000 after buying an additional 11,500 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of SL Green Realty stock opened at $51.27 on Wednesday. SL Green Realty Corp. has a 52 week low of $20.51 and a 52 week high of $55.75. The company has a market capitalization of $3.38 billion, a PE ratio of -6.21, a price-to-earnings-growth ratio of 1.39 and a beta of 1.72. The stock’s fifty day moving average is $51.22 and its two-hundred day moving average is $44.72. The company has a quick ratio of 2.23, a current ratio of 2.96 and a debt-to-equity ratio of 1.01.

SL Green Realty Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 5.85%. The ex-dividend date is Monday, April 29th. SL Green Realty’s dividend payout ratio is presently -36.32%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on SL Green Realty in a research report on Tuesday, January 30th. They set a “hold” rating and a $50.00 target price for the company. TheStreet upgraded shares of SL Green Realty from a “d+” rating to a “c-” rating in a report on Wednesday, January 10th. Truist Financial downgraded shares of SL Green Realty from a “buy” rating to a “hold” rating and increased their price target for the company from $44.00 to $47.00 in a report on Tuesday, January 16th. Scotiabank boosted their price objective on SL Green Realty from $40.00 to $43.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, April 2nd. Finally, Barclays upgraded SL Green Realty from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $35.00 to $48.00 in a research report on Wednesday, March 27th. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SL Green Realty presently has a consensus rating of “Hold” and an average price target of $47.00.

Insider Activity at SL Green Realty

In other SL Green Realty news, Director Carol N. Brown sold 5,118 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $44.37, for a total value of $227,085.66. The sale was disclosed in a filing with the SEC, which is available through this link. 5.08% of the stock is currently owned by company insiders.

SL Green Realty Company Profile

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.