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

Shares of SL Green Realty Corp. (NYSE:SLG) have been given an average recommendation of “Hold” by the fifteen research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $66.33.

A number of analysts recently commented on the stock. Scotiabank dropped their target price on shares of SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Barclays reduced their price target on shares of SL Green Realty from $76.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Truist Financial decreased their price objective on SL Green Realty from $62.00 to $54.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Bank of America cut their target price on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Finally, Evercore ISI upgraded SL Green Realty from an “in-line” rating to an “outperform” rating and lowered their price target for the company from $74.00 to $73.00 in a research report on Monday, March 17th.

SL Green Realty Stock Performance

Shares of SLG opened at $58.27 on Wednesday. The company has a 50-day moving average of $54.91 and a two-hundred day moving average of $64.09. SL Green Realty has a 12-month low of $45.15 and a 12-month high of $82.81. The stock has a market cap of $4.16 billion, a P/E ratio of 728.38, a PEG ratio of 5.30 and a beta of 1.59. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.13. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. The business had revenue of $144.52 million during the quarter, compared to the consensus estimate of $158.44 million. As a group, research analysts predict that SL Green Realty will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, May 30th. SL Green Realty’s dividend payout ratio is currently -735.71%.

Institutional Investors Weigh In On SL Green Realty

Several institutional investors have recently bought and sold shares of SLG. Intech Investment Management LLC increased its position in SL Green Realty by 36.9% during the 1st quarter. Intech Investment Management LLC now owns 48,390 shares of the real estate investment trust’s stock worth $2,792,000 after buying an additional 13,048 shares during the period. Game Plan Financial Advisors LLC boosted its position in SL Green Realty by 1,127.3% during the first quarter. Game Plan Financial Advisors LLC now owns 27,000 shares of the real estate investment trust’s stock valued at $1,558,000 after acquiring an additional 24,800 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in SL Green Realty by 10.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 524,251 shares of the real estate investment trust’s stock worth $30,249,000 after purchasing an additional 50,450 shares during the period. Empowered Funds LLC increased its stake in shares of SL Green Realty by 10.9% in the 1st quarter. Empowered Funds LLC now owns 7,374 shares of the real estate investment trust’s stock valued at $425,000 after acquiring an additional 722 shares in the last quarter. Finally, United Services Automobile Association bought a new position in SL Green Realty during the first quarter worth $253,000. Institutional investors own 89.96% of the company’s stock.

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.