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

Shares of SL Green Realty Corp. (NYSE:SLG) have earned a consensus rating of “Hold” from the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $65.57.

A number of analysts recently commented on the stock. Piper Sandler restated an “overweight” rating and issued a $90.00 price objective (up previously from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Morgan Stanley upped their price objective 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. Scotiabank upped their price objective on shares of SL Green Realty from $68.00 to $80.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. The Goldman Sachs Group upped their price objective on shares of SL Green Realty from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded shares of SL Green Realty to a “sell” rating in a research report on Friday, July 19th.

Institutional Investors Weigh In On SL Green Realty

Several hedge funds and other institutional investors have recently made changes to their positions in SLG. Commonwealth Equity Services LLC increased its position in shares of SL Green Realty by 11.1% during the first quarter. Commonwealth Equity Services LLC now owns 28,971 shares of the real estate investment trust’s stock worth $1,597,000 after acquiring an additional 2,898 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of SL Green Realty by 12.0% during the first quarter. Janney Montgomery Scott LLC now owns 124,978 shares of the real estate investment trust’s stock worth $6,890,000 after acquiring an additional 13,412 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of SL Green Realty during the first quarter worth about $55,000. Daiwa Securities Group Inc. increased its position in shares of SL Green Realty by 479.1% during the first quarter. Daiwa Securities Group Inc. now owns 113,028 shares of the real estate investment trust’s stock worth $6,231,000 after acquiring an additional 93,511 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in SL Green Realty by 320.9% in the 1st quarter. SG Americas Securities LLC now owns 49,775 shares of the real estate investment trust’s stock worth $2,744,000 after purchasing an additional 37,949 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

SL Green Realty Trading Down 1.6 %

Shares of SLG opened at $74.41 on Friday. SL Green Realty has a 12-month low of $29.26 and a 12-month high of $79.92. The company has a quick ratio of 2.59, a current ratio of 2.58 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of -29.76, a P/E/G ratio of 2.05 and a beta of 1.83. The stock’s 50-day moving average price is $70.17 and its 200 day moving average price is $61.31.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $1.21 by ($1.42). SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. The company had revenue of $229.69 million during the quarter, compared to the consensus estimate of $136.66 million. During the same quarter in the prior year, the company posted $1.27 earnings per share. As a group, research analysts predict that SL Green Realty will post 7.61 earnings per share for the current year.

SL Green Realty Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Thursday, October 31st. SL Green Realty’s dividend payout ratio (DPR) is currently -120.00%.

About SL Green Realty

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.