SL Green Realty Corp. (NYSE:SLG) Receives $66.00 Consensus PT from Brokerages

SL Green Realty Corp. (NYSE:SLG) has received an average rating of “Hold” from the fifteen ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $66.00.

SLG has been the topic of a number of research analyst reports. Citigroup raised shares of SL Green Realty from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $44.00 to $66.00 in a research report on Friday, September 13th. Evercore ISI upped their price objective on SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Morgan Stanley increased their price target on SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Scotiabank lifted their price objective on shares of SL Green Realty from $68.00 to $80.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. upped their price target on SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th.

SL Green Realty Trading Down 2.6 %

NYSE SLG opened at $73.80 on Wednesday. The firm has a market capitalization of $4.87 billion, a PE ratio of -29.52, a price-to-earnings-growth ratio of 3.70 and a beta of 1.81. The business’s 50-day moving average price is $74.76 and its two-hundred day moving average price is $65.56. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06. SL Green Realty has a 12 month low of $39.66 and a 12 month high of $82.81.

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

SL Green Realty Announces Dividend

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

Hedge Funds Weigh In On SL Green Realty

Several institutional investors and hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale grew its holdings in shares of SL Green Realty by 18.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 67,923 shares of the real estate investment trust’s stock worth $3,665,000 after purchasing an additional 10,704 shares during the last quarter. Edgestream Partners L.P. boosted its position in SL Green Realty by 40.1% during the 2nd quarter. Edgestream Partners L.P. now owns 122,880 shares of the real estate investment trust’s stock valued at $6,960,000 after buying an additional 35,178 shares during the period. Swedbank AB bought a new stake in SL Green Realty in the 1st quarter worth $4,675,000. Waterfall Asset Management LLC purchased a new position in shares of SL Green Realty in the second quarter valued at about $3,172,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of SL Green Realty by 13.2% during the second quarter. Daiwa Securities Group Inc. now owns 127,899 shares of the real estate investment trust’s stock valued at $7,244,000 after acquiring an additional 14,871 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

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.