Truist Financial Issues Positive Forecast for SL Green Realty (NYSE:SLG) Stock Price

SL Green Realty (NYSE:SLG) had its target price increased by Truist Financial from $61.00 to $62.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

SLG has been the subject of several other reports. BMO Capital Markets reiterated an “outperform” rating and issued a $87.00 target price (up from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating and set a $90.00 price objective (up previously from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Scotiabank increased their price objective on shares of SL Green Realty from $80.00 to $81.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. Barclays boosted their target price on shares of SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Compass Point increased their price target 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 equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.50.

SL Green Realty Stock Up 2.1 %

Shares of NYSE SLG opened at $67.38 on Monday. The firm’s 50-day moving average is $70.73 and its two-hundred day moving average is $69.33. The company has a market capitalization of $4.44 billion, a PE ratio of 842.24, a price-to-earnings-growth ratio of 5.53 and a beta of 1.82. SL Green Realty has a 12-month low of $41.88 and a 12-month 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 released its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.11% and a net margin of 2.48%. Equities analysts anticipate that SL Green Realty will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be issued a $0.2575 dividend. This represents a $3.09 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend is Friday, January 31st. SL Green Realty’s dividend payout ratio is currently 3,862.50%.

Insiders Place Their Bets

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.30, for a total transaction of $229,066.50. Following the completion of the sale, the director now owns 2,052 shares in the company, valued at $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On SL Green Realty

A number of institutional investors have recently modified their holdings of SLG. Venturi Wealth Management LLC boosted its stake in SL Green Realty by 272.0% in the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 272 shares during the period. Point72 DIFC Ltd acquired a new position in SL Green Realty during the 3rd quarter valued at approximately $35,000. Friedenthal Financial bought a new position in SL Green Realty during the 3rd quarter worth $49,000. Blue Trust Inc. increased its position in SL Green Realty by 363.2% in the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 632 shares during the period. Finally, Versant Capital Management Inc lifted its stake in SL Green Realty by 17.7% in the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 157 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

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.