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

SL Green Realty (NYSE:SLG) had its price target hoisted by Mizuho from $38.00 to $46.00 in a research note published on Tuesday, MarketBeat.com reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of SL Green Realty from $49.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Citigroup decreased their price objective on shares of SL Green Realty from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, March 24th. Evercore downgraded shares of SL Green Realty from an “outperform” rating to an “in-line” rating and set a $56.00 target price for the company. in a research report on Monday, July 6th. Weiss Ratings upgraded shares of SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Finally, UBS Group set a $56.00 price target on shares of SL Green Realty in a research report on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, SL Green Realty currently has a consensus rating of “Hold” and an average price target of $52.50.

SL Green Realty Stock Performance

SL Green Realty stock opened at $50.88 on Tuesday. SL Green Realty has a 52 week low of $34.77 and a 52 week high of $66.29. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 1.18. The stock has a market cap of $3.63 billion, a P/E ratio of -20.27 and a beta of 1.58. The stock has a 50 day moving average of $48.32 and a 200-day moving average of $43.99.

SL Green Realty Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Triumph Capital Management acquired a new stake in SL Green Realty in the third quarter worth $45,000. Davis Capital Management bought a new stake in SL Green Realty in the first quarter valued at $46,000. Fourth Dimension Wealth LLC boosted its holdings in shares of SL Green Realty by 45.5% during the fourth quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 500 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of SL Green Realty by 30.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 378 shares during the period. Finally, Leonteq Securities AG grew its position in shares of SL Green Realty by 4,194.0% during the first quarter. Leonteq Securities AG now owns 2,147 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 2,097 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.