SL Green Realty (NYSE:SLG – Free Report) had its target price increased by Mizuho from $45.00 to $67.00 in a report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.
Other equities research analysts have also issued reports about the company. Jefferies Financial Group dropped their price target on SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $90.00 target price (up from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. BMO Capital Markets reiterated an “outperform” rating and set a $87.00 price target (up previously from $72.00) on shares of SL Green Realty in a report on Monday, October 21st. Citigroup raised shares of SL Green Realty from a “sell” rating to a “neutral” rating and upped their price objective for the company from $44.00 to $66.00 in a report on Friday, September 13th. Finally, Compass Point lifted their target price on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, SL Green Realty has a consensus rating of “Hold” and an average target price of $68.38.
Get Our Latest Analysis on SL Green Realty
SL Green Realty Stock Down 1.8 %
SL Green Realty (NYSE:SLG – Get Free Report) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates 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 quarter last year, the company earned $1.27 earnings per share. Research analysts anticipate that SL Green Realty will post 7.82 EPS for the current fiscal year.
SL Green Realty Increases Dividend
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.2575 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from SL Green Realty’s previous monthly dividend of $0.25. This represents a $3.09 dividend on an annualized basis and a dividend yield of 4.79%. SL Green Realty’s payout ratio is presently -123.60%.
Hedge Funds Weigh In On SL Green Realty
Several hedge funds have recently bought and sold shares of SLG. Rosenberg Matthew Hamilton increased its stake in SL Green Realty by 6.6% during the third quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 144 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of SL Green Realty by 4.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock valued at $262,000 after purchasing an additional 148 shares in the last quarter. Versant Capital Management Inc increased its stake in SL Green Realty by 17.7% during the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 157 shares during the period. MML Investors Services LLC lifted its holdings in SL Green Realty by 2.7% during the 3rd quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust’s stock worth $427,000 after buying an additional 161 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in SL Green Realty by 5.1% in the 4th quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 203 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.
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.
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