Scotiabank Issues Positive Forecast for SL Green Realty (NYSE:SLG) Stock Price

SL Green Realty (NYSE:SLG) had its price target lifted by Scotiabank from $53.00 to $56.00 in a research note published on Tuesday,Benzinga reports. Scotiabank currently has a sector outperform rating on the real estate investment trust’s stock.

Several other research analysts have also issued reports on the stock. Morgan Stanley cut their target price on shares of SL Green Realty from $43.00 to $36.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. JPMorgan Chase & Co. lifted their price target on SL Green Realty from $49.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. LADENBURG THALM/SH SH upped their price objective on SL Green Realty from $42.00 to $46.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Wells Fargo & Company increased their price objective on SL Green Realty from $40.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Finally, Barclays set a $52.00 price objective on SL Green Realty and gave the company an “equal weight” rating in a report on Tuesday. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $52.50.

SL Green Realty Trading Up 0.1%

Shares of SL Green Realty stock opened at $50.88 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 3.03. SL Green Realty has a 1 year low of $34.77 and a 1 year high of $66.29. The firm has a market cap of $3.63 billion, a PE ratio of -20.27 and a beta of 1.58. The company has a 50 day simple moving average of $48.32 and a two-hundred day simple moving average of $43.99.

SL Green Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Tuesday, June 30th. SL Green Realty’s dividend payout ratio (DPR) is presently -98.41%.

Institutional Trading of SL Green Realty

Several institutional investors have recently added to or reduced their stakes in SLG. State Street Corp grew its stake in shares of SL Green Realty by 1.0% during 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 buying an additional 41,873 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in shares of SL Green Realty by 25.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 3,041,226 shares of the real estate investment trust’s stock valued at $139,501,000 after acquiring an additional 617,488 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of SL Green Realty by 62.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust’s stock valued at $133,862,000 after acquiring an additional 1,117,357 shares during the last quarter. Cohen & Steers Inc. purchased a new stake in SL Green Realty during the 4th quarter valued at about $121,675,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in SL Green Realty by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,561,121 shares of the real estate investment trust’s stock valued at $71,609,000 after acquiring an additional 32,779 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.