SL Green Realty Corp. (NYSE:SLG – Get Free Report) has been assigned an average recommendation of “Reduce” from the thirteen research firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $57.29.
SLG has been the subject of a number of analyst reports. StockNews.com raised shares of SL Green Realty to a “sell” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. raised their price target on SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Citigroup raised SL Green Realty from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $44.00 to $66.00 in a research note on Friday, September 13th. BMO Capital Markets lifted their target price on SL Green Realty from $58.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Finally, Barclays upped their price target on SL Green Realty from $49.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th.
View Our Latest Stock Analysis on SL Green Realty
Institutional Trading of SL Green Realty
SL Green Realty Stock Performance
NYSE:SLG opened at $69.21 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.59 and a current ratio of 2.59. The stock has a 50-day simple moving average of $64.04 and a two-hundred day simple moving average of $56.71. The firm has a market capitalization of $4.56 billion, a PE ratio of -8.38, a P/E/G ratio of 2.15 and a beta of 1.83. SL Green Realty has a 52-week low of $28.55 and a 52-week high of $71.32.
SL Green Realty (NYSE:SLG – Get Free Report) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.09. SL Green Realty had a negative return on equity of 3.92% and a negative net margin of 19.31%. The company had revenue of $222.82 million during the quarter, compared to the consensus estimate of $133.83 million. During the same period in the previous year, the company posted $1.43 EPS. The firm’s revenue was down 9.4% on a year-over-year basis. Analysts forecast that SL Green Realty will post 7.58 EPS for the current year.
SL Green Realty Dividend Announcement
The firm also recently disclosed a monthly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.33%. SL Green Realty’s payout ratio is currently -36.32%.
About SL Green Realty
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.
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