SL Green Realty Corporation (NYSE:SLG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of SL Green Realty Corporation (NYSE:SLG) have earned a consensus recommendation of “Hold” from the nineteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $54.30.

Several equities analysts have recently weighed in on SLG shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of SL Green Realty in a research note on Wednesday, January 21st. Piper Sandler cut their price target on shares of SL Green Realty from $62.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, January 5th. Citigroup decreased their price objective on shares of SL Green Realty from $70.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. JPMorgan Chase & Co. dropped their price objective on shares of SL Green Realty from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday, January 14th. Finally, Zacks Research lowered shares of SL Green Realty from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SLG. Ethic Inc. lifted its stake in SL Green Realty by 2.4% in the 3rd quarter. Ethic Inc. now owns 8,132 shares of the real estate investment trust’s stock valued at $486,000 after buying an additional 193 shares in the last quarter. MAI Capital Management raised its holdings in shares of SL Green Realty by 25.9% in the second quarter. MAI Capital Management now owns 988 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 203 shares during the last quarter. Amalgamated Bank lifted its position in shares of SL Green Realty by 1.2% in the second quarter. Amalgamated Bank now owns 20,245 shares of the real estate investment trust’s stock valued at $1,253,000 after acquiring an additional 235 shares in the last quarter. Integrity Alliance LLC. lifted its position in shares of SL Green Realty by 4.1% in the fourth quarter. Integrity Alliance LLC. now owns 5,970 shares of the real estate investment trust’s stock valued at $274,000 after acquiring an additional 237 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of SL Green Realty by 67.8% during the second quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 253 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Stock Performance

NYSE:SLG opened at $39.22 on Friday. The company has a market cap of $2.80 billion, a P/E ratio of -24.36 and a beta of 1.63. The firm’s 50 day moving average is $44.96 and its two-hundred day moving average is $50.79. SL Green Realty has a fifty-two week low of $36.12 and a fifty-two week high of $66.91. The company has a quick ratio of 3.22, a current ratio of 2.66 and a debt-to-equity ratio of 1.05.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, January 28th. The real estate investment trust reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. SL Green Realty had a negative return on equity of 2.44% and a negative net margin of 9.66%.The business had revenue of $159.82 million during the quarter, compared to the consensus estimate of $162.73 million. During the same period in the prior year, the firm posted $1.81 EPS. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. Analysts expect that SL Green Realty will post 5.43 EPS for the current year.

SL Green Realty Company Profile

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.