SL Green Realty (NYSE:SLG) Price Target Lowered to $51.00 at JPMorgan Chase & Co.

SL Green Realty (NYSE:SLG) had its price objective decreased by JPMorgan Chase & Co. from $52.00 to $51.00 in a research note published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

Several other equities research analysts have also recently commented on the stock. BMO Capital Markets cut their price objective on shares of SL Green Realty from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, December 8th. Jefferies Financial Group upgraded SL Green Realty from a “neutral” rating to a “buy” rating and boosted their price target for the company from $57.00 to $63.00 in a report on Monday, October 13th. UBS Group set a $61.00 price objective on SL Green Realty in a research report on Wednesday. Truist Financial set a $47.00 price objective on SL Green Realty and gave the stock a “hold” rating in a report on Monday, December 8th. Finally, Deutsche Bank Aktiengesellschaft set a $45.00 target price on SL Green Realty in a research report on Tuesday, January 6th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, SL Green Realty presently has a consensus rating of “Hold” and an average price target of $55.94.

SL Green Realty Stock Down 1.4%

Shares of SL Green Realty stock opened at $48.06 on Wednesday. The company has a market capitalization of $3.43 billion, a P/E ratio of 4,811.21 and a beta of 1.60. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.22 and a quick ratio of 3.22. The business has a 50-day moving average of $46.35 and a two-hundred day moving average of $53.87. SL Green Realty has a 1 year low of $40.26 and a 1 year high of $68.14.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Thursday, October 16th. The real estate investment trust reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.24. SL Green Realty had a negative return on equity of 0.22% and a net margin of 1.75%.The business had revenue of $244.82 million for the quarter, compared to analysts’ expectations of $170.27 million. During the same quarter in the previous year, the business posted $1.26 EPS. SL Green Realty’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts predict that SL Green Realty will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a dividend of $0.2575 per share. The ex-dividend date was Friday, November 28th. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%. SL Green Realty’s dividend payout ratio (DPR) is 30,900.00%.

Insider Activity at SL Green Realty

In related news, insider Andrew S. Levine sold 1,493 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $45.27, for a total value of $67,588.11. Following the completion of the sale, the insider directly owned 7,045 shares in the company, valued at $318,927.15. The trade was a 17.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc Holliday sold 22,223 shares of the company’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $44.40, for a total value of $986,701.20. Following the completion of the transaction, the chief executive officer directly owned 9,698 shares in the company, valued at approximately $430,591.20. This represents a 69.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.04% of the company’s stock.

Institutional Trading of SL Green Realty

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quent Capital LLC acquired a new position in shares of SL Green Realty during the 3rd quarter worth approximately $27,000. Salomon & Ludwin LLC bought a new stake in shares of SL Green Realty in the third quarter valued at approximately $29,000. Whittier Trust Co. acquired a new stake in SL Green Realty during the third quarter worth approximately $29,000. Bessemer Group Inc. increased its stake in SL Green Realty by 67.8% during the 2nd quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 253 shares during the period. Finally, Triumph Capital Management bought a new position in SL Green Realty during the 3rd quarter worth $45,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

About SL Green Realty

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.