SL Green Realty (NYSE:SLG) Given Outperform Rating at BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of SL Green Realty (NYSE:SLG) in a research report sent to investors on Monday morning, Benzinga reports. BMO Capital Markets currently has a $87.00 price target on the real estate investment trust’s stock, up from their prior price target of $72.00.

A number of other research analysts have also recently issued reports on SLG. Citigroup upgraded SL Green Realty from a “sell” rating to a “neutral” rating and lifted their target price for the company from $44.00 to $66.00 in a research report on Friday, September 13th. Evercore ISI raised shares of SL Green Realty from an “underperform” rating to an “inline” rating and lifted their price target for the company from $55.00 to $66.00 in a report on Monday, September 16th. StockNews.com raised shares of SL Green Realty to a “sell” rating in a research note on Friday, July 19th. Compass Point set a $65.00 target price on shares of SL Green Realty and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Scotiabank upped their price target on shares of SL Green Realty from $53.00 to $68.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $64.71.

SL Green Realty Stock Performance

NYSE:SLG opened at $77.47 on Monday. The company has a market cap of $5.04 billion, a price-to-earnings ratio of -30.99, a PEG ratio of 2.12 and a beta of 1.83. SL Green Realty has a fifty-two week low of $28.55 and a fifty-two week high of $79.08. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.59 and a current ratio of 2.58. The stock has a fifty day moving average price of $68.72 and a 200-day moving average price of $60.30.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. The firm had revenue of $229.69 million for the quarter, compared to analyst estimates of $136.66 million. During the same quarter in the previous year, the company earned $1.27 earnings per share. As a group, equities analysts anticipate that SL Green Realty will post 7.62 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend is Thursday, October 31st. SL Green Realty’s dividend payout ratio is presently -120.00%.

Institutional Trading of SL Green Realty

A number of large investors have recently bought and sold shares of SLG. Wealth Enhancement Advisory Services LLC boosted its position in shares of SL Green Realty by 4.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock valued at $262,000 after purchasing an additional 148 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in SL Green Realty by 33.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,565 shares of the real estate investment trust’s stock valued at $178,000 after buying an additional 649 shares during the period. Moody Aldrich Partners LLC boosted its holdings in shares of SL Green Realty by 12.8% during the 3rd quarter. Moody Aldrich Partners LLC now owns 117,926 shares of the real estate investment trust’s stock worth $8,209,000 after buying an additional 13,427 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of SL Green Realty by 6,861.0% during the 3rd quarter. International Assets Investment Management LLC now owns 14,618 shares of the real estate investment trust’s stock worth $1,018,000 after buying an additional 14,408 shares during the period. Finally, Friedenthal Financial bought a new stake in shares of SL Green Realty in the 3rd quarter valued at $49,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.