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

Shares of SL Green Realty Corp. (NYSE:SLG) have received a consensus recommendation of “Hold” from the sixteen ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $68.38.

A number of analysts have recently issued reports on SLG shares. Mizuho boosted their target price on shares of SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Piper Sandler reiterated an “overweight” rating and set a $90.00 price objective (up previously from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $51.00 to $80.00 in a research note on Tuesday, December 10th. Evercore ISI raised their target price on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Finally, Scotiabank boosted their price target on SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a report on Tuesday, December 10th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rosenberg Matthew Hamilton lifted its stake in shares of 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 buying an additional 144 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in SL Green Realty by 4.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock worth $262,000 after acquiring an additional 148 shares during the period. Versant Capital Management Inc grew 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 valued at $71,000 after purchasing an additional 157 shares during the last quarter. MML Investors Services LLC grew its stake 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 valued at $427,000 after purchasing an additional 161 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of SL Green Realty by 5.1% in the fourth quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust’s stock worth $285,000 after purchasing an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Up 3.3 %

Shares of NYSE:SLG opened at $65.43 on Thursday. The firm has a market capitalization of $4.31 billion, a PE ratio of -26.17, a price-to-earnings-growth ratio of 4.26 and a beta of 1.82. The business has a 50 day simple moving average of $72.42 and a two-hundred day simple moving average of $68.75. SL Green Realty has a 1 year low of $41.81 and a 1 year high of $82.81. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (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 for the quarter, compared to analysts’ expectations of $136.66 million. During the same quarter in the previous year, the firm earned $1.27 EPS. On average, equities analysts predict that SL Green Realty will post 7.82 EPS for the current year.

SL Green Realty Increases Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.2575 per share. This represents a $3.09 annualized dividend and a dividend yield of 4.72%. This is a positive change from SL Green Realty’s previous monthly dividend of $0.25. The ex-dividend date was Tuesday, December 31st. SL Green Realty’s dividend payout ratio is presently -123.60%.

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.