SL Green Realty Corp. (NYSE:SLG) Given Consensus Rating of “Reduce” by Brokerages

Shares of SL Green Realty Corp. (NYSE:SLG) have earned a consensus rating of “Reduce” from the eleven brokerages that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $46.09.

SLG has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on shares of SL Green Realty from $30.00 to $36.00 and gave the stock a “sell” rating in a report on Thursday, January 11th. TheStreet raised shares of SL Green Realty from a “d+” rating to a “c-” rating in a research note on Wednesday, January 10th. Truist Financial lowered SL Green Realty from a “buy” rating to a “hold” rating and increased their target price for the company from $44.00 to $47.00 in a report on Tuesday, January 16th. Evercore ISI downgraded SL Green Realty from an “in-line” rating to an “underperform” rating and set a $44.00 price target on the stock. in a report on Monday, March 18th. Finally, BMO Capital Markets increased their price objective on SL Green Realty from $34.00 to $44.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 5th.

SL Green Realty Trading Up 2.6 %

NYSE:SLG opened at $55.13 on Friday. The stock has a fifty day simple moving average of $48.00 and a 200 day simple moving average of $41.74. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of -6.06, a price-to-earnings-growth ratio of 1.70 and a beta of 1.70. SL Green Realty has a 1-year low of $20.51 and a 1-year high of $55.75. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.93.

SL Green Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.00 dividend on an annualized basis and a yield of 5.44%. SL Green Realty’s dividend payout ratio is currently -33.00%.

Insider Buying and Selling at SL Green Realty

In other news, Director Carol N. Brown sold 5,118 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $44.37, for a total transaction of $227,085.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Carol N. Brown sold 5,118 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $44.37, for a total transaction of $227,085.66. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Betsy S. Atkins sold 9,894 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $47.25, for a total value of $467,491.50. Following the completion of the sale, the director now owns 6,886 shares of the company’s stock, valued at $325,363.50. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of SL Green Realty

Large investors have recently modified their holdings of the company. Rosenberg Matthew Hamilton raised its stake in SL Green Realty by 9.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock worth $117,000 after acquiring an additional 227 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in SL Green Realty by 6.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,291 shares of the real estate investment trust’s stock valued at $194,000 after purchasing an additional 249 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in SL Green Realty by 1.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 13,739 shares of the real estate investment trust’s stock valued at $621,000 after buying an additional 255 shares in the last quarter. Yousif Capital Management LLC grew its stake in SL Green Realty by 0.8% during the first quarter. Yousif Capital Management LLC now owns 37,024 shares of the real estate investment trust’s stock worth $3,006,000 after buying an additional 299 shares during the last quarter. Finally, Arden Trust Co increased its holdings in shares of SL Green Realty by 1.5% during the fourth quarter. Arden Trust Co now owns 23,935 shares of the real estate investment trust’s stock worth $1,081,000 after buying an additional 356 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

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.