SL Green Realty (NYSE:SLG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of SL Green Realty (NYSE:SLG) from a strong sell rating to a sell rating in a report published on Saturday.

SLG has been the topic of a number of other research reports. Piper Sandler set a $79.00 target price on SL Green Realty and gave the stock an “overweight” rating in a report on Friday. Scotiabank reiterated an “outperform” rating and issued a $56.00 price target (up from $53.00) on shares of SL Green Realty in a report on Tuesday, July 21st. Citigroup reissued a “buy” rating and set a $60.00 price target (up from $45.00) on shares of SL Green Realty in a research report on Friday. Evercore cut SL Green Realty from an “outperform” rating to an “in-line” rating and set a $56.00 price objective on the stock. in a research note on Monday, July 6th. Finally, LADENBURG THALM/SH SH lifted their price objective on shares of SL Green Realty from $42.00 to $46.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $54.95.

SL Green Realty Price Performance

Shares of SLG stock opened at $53.87 on Friday. The firm has a fifty day moving average of $49.12 and a two-hundred day moving average of $44.16. The firm has a market cap of $3.85 billion, a P/E ratio of -19.73 and a beta of 1.58. SL Green Realty has a 1-year low of $34.77 and a 1-year high of $66.29. The company has a debt-to-equity ratio of 1.12, a current ratio of 3.10 and a quick ratio of 3.03.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.21. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.43%. The business had revenue of $171.85 million for the quarter, compared to analyst estimates of $179.01 million. During the same quarter in the prior year, the business posted $1.63 EPS. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. SL Green Realty has set its FY 2026 guidance at 5.600-5.900 EPS. As a group, research analysts anticipate that SL Green Realty will post 4.53 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.6175 per share. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Tuesday, June 30th. SL Green Realty’s dividend payout ratio is presently -90.48%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB grew its stake in SL Green Realty by 30.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 26,865 shares of the real estate investment trust’s stock worth $1,391,000 after buying an additional 6,200 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of SL Green Realty by 19.1% during the second quarter. GAMMA Investing LLC now owns 4,520 shares of the real estate investment trust’s stock valued at $234,000 after acquiring an additional 725 shares during the period. Glenmede Trust Co. NA boosted its holdings in shares of SL Green Realty by 3.8% during the first quarter. Glenmede Trust Co. NA now owns 17,370 shares of the real estate investment trust’s stock valued at $642,000 after acquiring an additional 639 shares during the period. Bank of America Corp DE grew its position in shares of SL Green Realty by 226.6% during the first quarter. Bank of America Corp DE now owns 744,053 shares of the real estate investment trust’s stock worth $27,485,000 after acquiring an additional 516,242 shares during the last quarter. Finally, Amundi grew its position in shares of SL Green Realty by 8.2% during the first quarter. Amundi now owns 51,784 shares of the real estate investment trust’s stock worth $1,913,000 after acquiring an additional 3,932 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

About SL Green Realty

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.