SL Green Realty Corp. (NYSE:SLG) Receives $68.38 Consensus Target Price from Brokerages

Shares of SL Green Realty Corp. (NYSE:SLG) have been given an average recommendation of “Hold” by the sixteen research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $68.38.

SLG has been the topic of a number of research reports. Evercore ISI boosted their target price on shares of SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Piper Sandler reiterated an “overweight” rating and set a $90.00 target price (up previously from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Jefferies Financial Group dropped their target price on shares of SL Green Realty from $75.00 to $69.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Morgan Stanley boosted their target price on shares of SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Finally, Compass Point boosted their target price on shares of SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th.

Institutional Investors Weigh In On SL Green Realty

Several institutional investors have recently added to or reduced their stakes in SLG. Rosenberg Matthew Hamilton lifted its holdings in shares of SL Green Realty by 6.6% in the third quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 144 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of SL Green Realty by 4.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock worth $262,000 after buying an additional 148 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of SL Green Realty by 17.7% in the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 157 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of SL Green Realty by 2.7% in the third quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust’s stock worth $427,000 after buying an additional 161 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of SL Green Realty by 5.1% in the fourth quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust’s stock worth $285,000 after buying an additional 203 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Trading Up 0.2 %

SLG opened at $67.29 on Thursday. SL Green Realty has a fifty-two week low of $41.88 and a fifty-two week high of $82.81. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of -26.92, a PEG ratio of 5.41 and a beta of 1.82. The company’s 50 day moving average price is $71.31 and its two-hundred day moving average price is $69.13.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. As a group, research analysts predict that SL Green Realty will post 7.78 earnings per share for the current year.

SL Green Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.2575 per share. This represents a $3.09 annualized dividend and a yield of 4.59%. The ex-dividend date is Friday, January 31st. SL Green Realty’s dividend payout ratio (DPR) is presently -123.60%.

SL Green Realty Company Profile

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.