SL Green Realty (NYSE:SLG) Price Target Cut to $69.00 by Analysts at Jefferies Financial Group

SL Green Realty (NYSE:SLGFree Report) had its target price lowered by Jefferies Financial Group from $75.00 to $69.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

A number of other research analysts have also weighed in on SLG. Evercore ISI raised their price target on shares of SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Piper Sandler restated an “overweight” rating and issued a $90.00 target price (up previously from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Morgan Stanley boosted their price target on SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Citigroup upgraded SL Green Realty from a “sell” rating to a “neutral” rating and raised their price objective for the company from $44.00 to $66.00 in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. upgraded shares of SL Green Realty from an “underweight” rating to a “neutral” rating and increased their target price for the company from $51.00 to $80.00 in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, SL Green Realty currently has a consensus rating of “Hold” and an average price target of $68.47.

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SL Green Realty Trading Up 0.7 %

Shares of SL Green Realty stock opened at $68.38 on Thursday. SL Green Realty has a fifty-two week low of $41.81 and a fifty-two week high of $82.81. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58. The company has a market cap of $4.51 billion, a P/E ratio of -27.35, a price-to-earnings-growth ratio of 4.26 and a beta of 1.81. The firm has a 50-day simple moving average of $74.63 and a two-hundred day simple moving average of $68.13.

SL Green Realty (NYSE:SLGGet Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS 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 business had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. During the same period in the previous year, the business posted $1.27 earnings per share. As a group, equities analysts predict that SL Green Realty will post 7.82 earnings per share for the current fiscal year.

SL Green Realty Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.2575 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from SL Green Realty’s previous monthly dividend of $0.25. This represents a $3.09 dividend on an annualized basis and a yield of 4.52%. SL Green Realty’s dividend payout ratio is -123.60%.

Institutional Trading of SL Green Realty

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in SL Green Realty by 50.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock worth $202,777,000 after purchasing an additional 977,321 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in SL Green Realty by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock valued at $88,275,000 after acquiring an additional 97,653 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in SL Green Realty by 9.7% in the second quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust’s stock worth $56,350,000 after acquiring an additional 88,309 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in SL Green Realty by 396.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,170 shares of the real estate investment trust’s stock worth $31,058,000 after acquiring an additional 356,275 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of SL Green Realty by 8.2% in the 2nd quarter. Federated Hermes Inc. now owns 433,896 shares of the real estate investment trust’s stock valued at $24,576,000 after purchasing an additional 32,985 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Company Profile

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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.

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Analyst Recommendations for SL Green Realty (NYSE:SLG)

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