SL Green Realty (SLG) Given a $117.00 Price Target by SunTrust Banks Analysts
SunTrust Banks set a $117.00 price target on SL Green Realty (NYSE:SLG) in a report released on Tuesday morning. The brokerage currently has a buy rating on the real estate investment trust’s stock. SunTrust Banks also issued estimates for SL Green Realty’s Q4 2017 earnings at $1.64 EPS, FY2017 earnings at $6.47 EPS, Q1 2018 earnings at $1.67 EPS, Q2 2018 earnings at $1.68 EPS, Q3 2018 earnings at $1.66 EPS, Q4 2018 earnings at $1.74 EPS, FY2018 earnings at $6.75 EPS, FY2019 earnings at $6.82 EPS, FY2020 earnings at $6.67 EPS and FY2021 earnings at $7.16 EPS.
A number of other research analysts also recently commented on the stock. BTIG Research raised shares of SL Green Realty from a neutral rating to a buy rating in a research note on Tuesday. BMO Capital Markets reaffirmed a buy rating and set a $125.00 price objective on shares of SL Green Realty in a research note on Wednesday, November 22nd. Zacks Investment Research raised shares of SL Green Realty from a sell rating to a hold rating in a research note on Tuesday, November 7th. Barclays dropped their price objective on shares of SL Green Realty from $111.00 to $105.00 and set an equal weight rating for the company in a research note on Wednesday, November 1st. Finally, KeyCorp set a $130.00 price objective on shares of SL Green Realty and gave the company a buy rating in a research note on Sunday, October 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $115.62.
SL Green Realty (SLG) opened at $102.60 on Tuesday. SL Green Realty has a one year low of $93.92 and a one year high of $115.34. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.38. The company has a market cap of $10,061.43, a PE ratio of 16.33, a PEG ratio of 2.65 and a beta of 1.18.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be given a dividend of $0.8125 per share. This represents a $3.25 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Friday, December 29th. This is an increase from SL Green Realty’s previous quarterly dividend of $0.78. SL Green Realty’s dividend payout ratio is 300.97%.
SL Green Realty announced that its board has initiated a share buyback program on Friday, December 1st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
A number of large investors have recently modified their holdings of the business. AXA grew its position in SL Green Realty by 81.2% in the third quarter. AXA now owns 157,301 shares of the real estate investment trust’s stock valued at $15,938,000 after acquiring an additional 70,513 shares in the last quarter. Delphi Management Inc. MA acquired a new stake in SL Green Realty in the third quarter valued at approximately $750,000. Davis Selected Advisers grew its position in SL Green Realty by 31.7% in the third quarter. Davis Selected Advisers now owns 117,429 shares of the real estate investment trust’s stock valued at $11,898,000 after acquiring an additional 28,235 shares in the last quarter. California Public Employees Retirement System grew its position in SL Green Realty by 2.9% in the third quarter. California Public Employees Retirement System now owns 220,441 shares of the real estate investment trust’s stock valued at $22,335,000 after acquiring an additional 6,171 shares in the last quarter. Finally, Bamco Inc. NY grew its position in SL Green Realty by 60.2% in the third quarter. Bamco Inc. NY now owns 160,166 shares of the real estate investment trust’s stock valued at $16,228,000 after acquiring an additional 60,166 shares in the last quarter.
SL Green Realty Company Profile
SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.
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