SL Green Realty (NYSE:SLG) Given New $73.00 Price Target at Evercore ISI

SL Green Realty (NYSE:SLG) had its price objective decreased by Evercore ISI from $74.00 to $73.00 in a report released on Monday,Benzinga reports. Evercore ISI currently has an outperform rating on the real estate investment trust’s stock.

SLG has been the topic of several other reports. Barclays dropped their price target on SL Green Realty from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company dropped their price target on SL Green Realty from $69.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Monday, May 19th. Truist Financial lifted their price target on SL Green Realty from $54.00 to $58.00 and gave the stock a “hold” rating in a research report on Friday, July 18th. Piper Sandler dropped their price target on SL Green Realty from $90.00 to $72.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SL Green Realty in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $67.29.

SL Green Realty Stock Down 0.3%

Shares of SLG stock opened at $54.09 on Monday. The stock’s 50 day simple moving average is $60.28 and its 200 day simple moving average is $58.85. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.72 and a current ratio of 2.72. SL Green Realty has a twelve month low of $45.15 and a twelve month high of $82.81. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of -100.16 and a beta of 1.69.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.26. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%. The business had revenue of $147.54 million for the quarter, compared to the consensus estimate of $171.24 million. During the same period last year, the business earned $2.05 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. As a group, research analysts predict that SL Green Realty will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently declared a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.2575 dividend. SL Green Realty’s dividend payout ratio (DPR) is -572.22%.

Insiders Place Their Bets

In other SL Green Realty news, Director Carol N. Brown sold 2,500 shares of the company’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $60.61, for a total value of $151,525.00. Following the sale, the director directly owned 937 shares in the company, valued at $56,791.57. This represents a 72.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.04% of the stock is owned by company insiders.

Institutional Trading of SL Green Realty

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in SL Green Realty by 2.6% in the first quarter. Vanguard Group Inc. now owns 11,113,302 shares of the real estate investment trust’s stock valued at $641,238,000 after acquiring an additional 283,009 shares during the period. State Street Corp grew its position in SL Green Realty by 1.0% in the second quarter. State Street Corp now owns 4,257,874 shares of the real estate investment trust’s stock valued at $264,636,000 after acquiring an additional 41,873 shares during the period. Geode Capital Management LLC grew its position in SL Green Realty by 0.4% in the second quarter. Geode Capital Management LLC now owns 1,833,682 shares of the real estate investment trust’s stock valued at $113,518,000 after acquiring an additional 6,690 shares during the period. Goldman Sachs Group Inc. grew its position in SL Green Realty by 8.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,695,862 shares of the real estate investment trust’s stock valued at $97,851,000 after acquiring an additional 130,206 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in SL Green Realty by 3.0% in the fourth quarter. Nuveen Asset Management LLC now owns 1,636,907 shares of the real estate investment trust’s stock worth $111,179,000 after purchasing an additional 46,988 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

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.