SL Green Realty Corp. (NYSE:SLG) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of SL Green Realty Corp. (NYSE:SLG) have received a consensus rating of “Hold” from the eleven research firms that are presently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $72.11.

A number of brokerages have recently weighed in on SLG. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of SL Green Realty from $66.00 to $77.00 and gave the stock a “hold” rating in a research note on Friday, June 25th. Wolfe Research began coverage on shares of SL Green Realty in a research note on Monday, June 14th. They issued a “peer perform” rating and a $90.00 price objective for the company. Morgan Stanley boosted their price objective on shares of SL Green Realty from $68.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, July 19th. Bank of America upgraded shares of SL Green Realty from an “underperform” rating to a “neutral” rating in a research note on Friday. Finally, Piper Sandler boosted their target price on shares of SL Green Realty from $75.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, June 14th.

In other SL Green Realty news, Director Betsy S. Atkins sold 3,229 shares of the business’s stock in a transaction on Monday, September 20th. The shares were sold at an average price of $66.85, for a total value of $215,858.65. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.99% of the company’s stock.

Large investors have recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. bought a new position in shares of SL Green Realty in the first quarter valued at approximately $29,000. Eaton Vance Management bought a new position in shares of SL Green Realty in the first quarter valued at approximately $36,000. Lazard Asset Management LLC bought a new position in SL Green Realty in the 1st quarter worth approximately $37,000. O Shaughnessy Asset Management LLC raised its position in SL Green Realty by 501.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 638 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 532 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new position in SL Green Realty in the 1st quarter worth approximately $72,000. Institutional investors own 87.11% of the company’s stock.

NYSE SLG traded up $2.62 during trading on Monday, reaching $75.87. The company’s stock had a trading volume of 12,132 shares, compared to its average volume of 1,080,238. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $5.26 billion, a PE ratio of 18.94, a PEG ratio of 3.44 and a beta of 1.63. The business has a 50-day moving average price of $71.76 and a 200-day moving average price of $74.41. SL Green Realty has a 1-year low of $40.47 and a 1-year high of $85.65.

SL Green Realty (NYSE:SLG) last posted its earnings results on Tuesday, July 20th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.11). SL Green Realty had a net margin of 32.04% and a return on equity of 5.84%. The business had revenue of $184.61 million during the quarter, compared to analyst estimates of $182.52 million. During the same quarter last year, the firm earned $0.76 earnings per share. SL Green Realty’s revenue was down 5.8% compared to the same quarter last year. As a group, analysts expect that SL Green Realty will post 6.59 earnings per share for the current year.

The firm also recently declared a monthly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be issued a $0.303 dividend. This represents a $3.64 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend is Wednesday, September 29th. SL Green Realty’s dividend payout ratio (DPR) is presently 51.20%.

SL Green Realty Company Profile

SL Green Realty Corp. operates as a real estate investment trust. The firm engages in the acquisition, development, ownership, management and operation of commercial and residential real estate properties. It operates through the Real Estate, and Debt & Preferred Equity Investments business segments.

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Analyst Recommendations for SL Green Realty (NYSE:SLG)

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