Brokerages Set SL Green Realty Corporation (NYSE:SLG) PT at $67.19

Shares of SL Green Realty Corporation (NYSE:SLG) have been given a consensus rating of “Hold” by the sixteen brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $65.2667.

SLG has been the topic of several analyst reports. Truist Financial raised their price target on shares of SL Green Realty from $54.00 to $58.00 and gave the company a “hold” rating in a research note on Friday, July 18th. New Street Research set a $72.00 price objective on shares of SL Green Realty in a report on Thursday, October 9th. LADENBURG THALM/SH SH initiated coverage on shares of SL Green Realty in a report on Monday, October 13th. They issued a “neutral” rating and a $63.00 price objective for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of SL Green Realty in a report on Wednesday, October 8th. Finally, Evercore ISI decreased their price objective on shares of SL Green Realty from $72.00 to $63.00 and set an “outperform” rating for the company in a report on Monday.

SL Green Realty Price Performance

Shares of NYSE:SLG opened at $51.72 on Friday. The firm’s 50 day moving average is $58.30 and its two-hundred day moving average is $58.07. SL Green Realty has a 52 week low of $45.15 and a 52 week high of $82.81. The firm has a market capitalization of $3.69 billion, a P/E ratio of 5,177.08 and a beta of 1.77. The company has a current ratio of 3.22, a quick ratio of 2.72 and a debt-to-equity ratio of 1.04.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.58 EPS for the quarter, beating the consensus estimate of $1.34 by $0.24. SL Green Realty had a net margin of 1.75% and a negative return on equity of 0.22%. The company had revenue of $149.67 million for the quarter, compared to analyst estimates of $170.27 million. During the same quarter last year, the business earned $1.26 earnings per share. SL Green Realty’s revenue was up 7.2% compared to the same quarter last year. Analysts anticipate that SL Green Realty will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be issued a $0.2575 dividend. The ex-dividend date is Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 6.0%. SL Green Realty’s dividend payout ratio (DPR) is 30,900.00%.

Insider Activity

In other news, Director Carol N. Brown sold 937 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $63.09, for a total value of $59,115.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SLG. Bessemer Group Inc. boosted its holdings in SL Green Realty by 67.8% during the second quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 253 shares in the last quarter. MAI Capital Management boosted its holdings in SL Green Realty by 25.9% during the second quarter. MAI Capital Management now owns 988 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 203 shares in the last quarter. Fourth Dimension Wealth LLC boosted its holdings in SL Green Realty by 54.5% during the first quarter. Fourth Dimension Wealth LLC now owns 1,700 shares of the real estate investment trust’s stock worth $98,000 after buying an additional 600 shares in the last quarter. Allworth Financial LP boosted its holdings in SL Green Realty by 2,432.8% during the second quarter. Allworth Financial LP now owns 1,697 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 1,630 shares in the last quarter. Finally, State of Wyoming bought a new stake in SL Green Realty during the first quarter worth approximately $172,000. 89.96% of the stock is currently 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.