SL Green Realty (NYSE:SLG) Price Target Increased to $43.00 by Analysts at Scotiabank

SL Green Realty (NYSE:SLGFree Report) had its price target raised by Scotiabank from $40.00 to $43.00 in a research report released on Tuesday, Benzinga reports. They currently have a sector underperform rating on the real estate investment trust’s stock.

A number of other brokerages have also weighed in on SLG. Morgan Stanley boosted their target price on shares of SL Green Realty from $41.00 to $47.00 and gave the company an equal weight rating in a research note on Thursday, March 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of SL Green Realty in a research note on Tuesday, January 30th. They set a hold rating and a $50.00 target price for the company. StockNews.com upgraded shares of SL Green Realty to a sell rating in a research note on Saturday, February 3rd. Evercore ISI lowered shares of SL Green Realty from an in-line rating to an underperform rating and set a $44.00 target price for the company. in a research note on Monday, March 18th. Finally, Barclays upgraded shares of SL Green Realty from an underweight rating to an equal weight rating and boosted their target price for the company from $35.00 to $48.00 in a research note on Wednesday, March 27th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SL Green Realty currently has a consensus rating of Hold and an average price target of $45.83.

Get Our Latest Stock Analysis on SL Green Realty

SL Green Realty Price Performance

Shares of NYSE SLG opened at $51.39 on Tuesday. SL Green Realty has a twelve month low of $20.51 and a twelve month high of $55.75. The firm has a market cap of $3.33 billion, a P/E ratio of -5.65, a PEG ratio of 1.85 and a beta of 1.71. The company has a 50 day moving average of $48.44 and a 200 day moving average of $42.03. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.93.

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend is Wednesday, March 27th. SL Green Realty’s dividend payout ratio is currently -33.00%.

Insider Buying and Selling

In related news, Director Carol N. Brown sold 5,118 shares of the company’s stock in a transaction on 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 Securities & Exchange Commission, which is available at this link. In related news, Director Carol N. Brown sold 5,118 shares of the company’s stock in a transaction on 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 Securities & Exchange Commission, which is available at this link. Also, Director Betsy S. Atkins sold 9,894 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $47.25, for a total transaction of $467,491.50. Following the transaction, the director now directly owns 6,886 shares of the company’s stock, valued at approximately $325,363.50. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of SL Green Realty by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 10,324,945 shares of the real estate investment trust’s stock valued at $466,378,000 after purchasing an additional 43,241 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of SL Green Realty by 7.6% during the 4th quarter. Wellington Management Group LLP now owns 1,114,957 shares of the real estate investment trust’s stock valued at $50,363,000 after purchasing an additional 78,322 shares during the last quarter. Prospect Financial Services LLC bought a new position in shares of SL Green Realty during the 4th quarter valued at about $12,373,000. Legal & General Group Plc lifted its holdings in shares of SL Green Realty by 3.8% in the 4th quarter. Legal & General Group Plc now owns 1,039,164 shares of the real estate investment trust’s stock valued at $46,939,000 after acquiring an additional 37,655 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of SL Green Realty by 189.7% in the 4th quarter. Barclays PLC now owns 105,694 shares of the real estate investment trust’s stock valued at $4,774,000 after acquiring an additional 69,212 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

About SL Green Realty

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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.

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Analyst Recommendations for SL Green Realty (NYSE:SLG)

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