SL Green Realty Corp. (NYSE:SLG) Given Consensus Recommendation of “Hold” by Brokerages

SL Green Realty Corp. (NYSE:SLG) has earned a consensus recommendation of “Hold” from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $68.67.

SLG has been the subject of several analyst reports. Barclays lifted their price objective on SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Morgan Stanley boosted their price target on SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Evercore ISI increased their price objective on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Scotiabank boosted their target price on shares of SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. Finally, Citigroup upgraded shares of SL Green Realty from a “sell” rating to a “neutral” rating and increased their price target for the stock from $44.00 to $66.00 in a research report on Friday, September 13th.

Institutional Investors Weigh In On SL Green Realty

Institutional investors have recently added to or reduced their stakes in the business. Oddo BHF Asset Management Sas acquired a new position in shares of SL Green Realty during the third quarter worth $1,050,000. Franklin Resources Inc. bought a new position in SL Green Realty during the 3rd quarter worth $621,000. Tidal Investments LLC acquired a new position in SL Green Realty during the 3rd quarter worth about $791,000. Barclays PLC grew its position in shares of SL Green Realty by 304.8% in the 3rd quarter. Barclays PLC now owns 110,866 shares of the real estate investment trust’s stock valued at $7,718,000 after buying an additional 83,478 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of SL Green Realty by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 92,502 shares of the real estate investment trust’s stock valued at $6,439,000 after buying an additional 748 shares during the period. 89.96% of the stock is owned by institutional investors.

SL Green Realty Trading Up 1.8 %

Shares of SL Green Realty stock opened at $68.01 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58. The firm has a 50-day moving average of $75.95 and a 200-day moving average of $67.40. SL Green Realty has a 52-week low of $41.81 and a 52-week high of $82.81. The stock has a market cap of $4.48 billion, a PE ratio of -27.20, a PEG ratio of 4.26 and a beta of 1.81.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. The business had revenue of $229.69 million for the quarter, compared to analyst estimates of $136.66 million. During the same quarter in the previous year, the company earned $1.27 EPS. As a group, sell-side analysts forecast that SL Green Realty will post 7.82 EPS for the current year.

SL Green Realty Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.2575 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from SL Green Realty’s previous monthly dividend of $0.25. This represents a $3.09 annualized dividend and a yield of 4.54%. SL Green Realty’s dividend payout ratio (DPR) is currently -123.60%.

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.