SL Green Realty Corp. (NYSE:SLG) Receives Average Rating of “Hold” from Analysts

Shares of SL Green Realty Corp. (NYSE:SLGGet Rating) have earned an average recommendation of “Hold” from the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $77.94.

SLG has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of SL Green Realty from $82.00 to $81.00 and set a “buy” rating on the stock in a research note on Thursday, April 14th. Truist Financial decreased their price objective on shares of SL Green Realty from $85.00 to $80.00 in a research note on Tuesday, April 26th. Piper Sandler decreased their price objective on shares of SL Green Realty from $75.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday. The Goldman Sachs Group decreased their price objective on shares of SL Green Realty from $90.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. Finally, Morgan Stanley decreased their price target on shares of SL Green Realty from $65.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 1st.

NYSE:SLG opened at $52.94 on Friday. SL Green Realty has a 12-month low of $52.50 and a 12-month high of $84.60. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $3.39 billion, a PE ratio of 7.82, a price-to-earnings-growth ratio of 3.85 and a beta of 1.41. The firm has a 50-day moving average price of $67.97 and a 200 day moving average price of $74.18.

SL Green Realty (NYSE:SLGGet Rating) last posted its quarterly earnings results on Wednesday, April 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.10. SL Green Realty had a net margin of 57.70% and a return on equity of 9.32%. The firm had revenue of $187.96 million during the quarter, compared to analyst estimates of $163.65 million. During the same quarter in the prior year, the business posted $1.78 earnings per share. The company’s quarterly revenue was down 16.9% compared to the same quarter last year. On average, research analysts expect that SL Green Realty will post 6.81 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st will be issued a $0.3108 dividend. The ex-dividend date is Friday, May 27th. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 2.35%. SL Green Realty’s dividend payout ratio (DPR) is 55.08%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in SL Green Realty by 7.0% in the fourth quarter. BlackRock Inc. now owns 9,764,636 shares of the real estate investment trust’s stock worth $700,126,000 after purchasing an additional 635,270 shares during the period. State Street Corp raised its holdings in SL Green Realty by 12.2% in the first quarter. State Street Corp now owns 3,857,153 shares of the real estate investment trust’s stock worth $314,295,000 after purchasing an additional 419,067 shares during the period. DAVENPORT & Co LLC raised its holdings in SL Green Realty by 3.7% in the first quarter. DAVENPORT & Co LLC now owns 1,501,051 shares of the real estate investment trust’s stock worth $122,222,000 after purchasing an additional 53,513 shares during the period. Confluence Investment Management LLC raised its holdings in SL Green Realty by 1.2% in the first quarter. Confluence Investment Management LLC now owns 1,347,654 shares of the real estate investment trust’s stock worth $109,403,000 after purchasing an additional 15,805 shares during the period. Finally, Wellington Management Group LLP raised its holdings in SL Green Realty by 20.6% in the first quarter. Wellington Management Group LLP now owns 1,197,334 shares of the real estate investment trust’s stock worth $97,200,000 after purchasing an additional 204,750 shares during the period. Institutional investors own 84.49% of the company’s stock.

About SL Green Realty (Get Rating)

SL Green Realty Corp., an S&P 500 company and 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 December 31, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet.

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Analyst Recommendations for SL Green Realty (NYSE:SLG)

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