Evercore ISI Cuts SL Green Realty (NYSE:SLG) Price Target to $72.00

SL Green Realty (NYSE:SLGFree Report) had its price target trimmed by Evercore ISI from $76.00 to $72.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

A number of other analysts have also weighed in on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of SL Green Realty in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of SL Green Realty from $69.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday. Citigroup raised shares of SL Green Realty from a “neutral” rating to a “buy” rating and increased their price target for the company from $65.00 to $70.00 in a research report on Friday, September 12th. Truist Financial increased their price target on shares of SL Green Realty from $54.00 to $58.00 and gave the company a “hold” rating in a research report on Friday, July 18th. Finally, Scotiabank raised shares of SL Green Realty from a “sector perform” rating to a “sector outperform” rating and set a $71.00 price target for the company in a research report on Friday, July 25th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, SL Green Realty presently has a consensus rating of “Hold” and an average price target of $67.93.

Check Out Our Latest Research Report on SLG

SL Green Realty Stock Down 2.9%

NYSE:SLG opened at $55.21 on Thursday. SL Green Realty has a 1-year low of $45.15 and a 1-year high of $82.81. The company has a 50-day moving average of $58.30 and a 200 day moving average of $58.13. The firm has a market cap of $3.94 billion, a PE ratio of -102.24 and a beta of 1.77. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.72 and a quick ratio of 2.72.

SL Green Realty (NYSE:SLGGet Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.26. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The company had revenue of $147.54 million during the quarter, compared to analyst estimates of $171.24 million. During the same period in the prior year, the firm earned $2.05 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. As a group, research analysts anticipate that SL Green Realty will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently disclosed a sep 25 dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.2575 dividend. This represents a dividend yield of 517.0%. The ex-dividend date of this dividend is Tuesday, September 30th. SL Green Realty’s dividend payout ratio (DPR) is presently -572.22%.

Insider Activity at SL Green Realty

In related news, Director Carol N. Brown sold 2,500 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $60.61, for a total value of $151,525.00. Following the completion of the transaction, the director directly owned 937 shares of the company’s stock, valued at $56,791.57. This trade represents a 72.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.04% of the stock is owned by insiders.

Hedge Funds Weigh In On SL Green Realty

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans raised its position in shares of SL Green Realty by 1.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 52,220 shares of the real estate investment trust’s stock valued at $3,232,000 after purchasing an additional 776 shares during the last quarter. Caxton Associates LLP raised its position in shares of SL Green Realty by 33.1% in the 2nd quarter. Caxton Associates LLP now owns 10,967 shares of the real estate investment trust’s stock valued at $679,000 after purchasing an additional 2,727 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of SL Green Realty by 9.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 242,131 shares of the real estate investment trust’s stock valued at $14,988,000 after purchasing an additional 19,993 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in SL Green Realty by 437.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,182 shares of the real estate investment trust’s stock worth $568,000 after buying an additional 7,474 shares during the period. Finally, Corient Private Wealth LLC increased its holdings in SL Green Realty by 44.8% in the 2nd quarter. Corient Private Wealth LLC now owns 13,409 shares of the real estate investment trust’s stock worth $830,000 after buying an additional 4,151 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for SL Green Realty (NYSE:SLG)

Receive News & Ratings for SL Green Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SL Green Realty and related companies with MarketBeat.com's FREE daily email newsletter.