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

Shares of SL Green Realty Corp. (NYSE:SLG) have been assigned an average recommendation of “Hold” from the fifteen analysts that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $66.00.

Several research firms recently weighed in on SLG. Bank of America increased their target price on SL Green Realty from $59.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Piper Sandler reissued an “overweight” rating and issued a $90.00 target price (up from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Jefferies Financial Group boosted their target price on shares of SL Green Realty from $70.00 to $72.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Compass Point set a $65.00 price target on shares of SL Green Realty and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group lifted their price target on shares of SL Green Realty from $38.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, July 31st.

Institutional Trading of SL Green Realty

A number of hedge funds and other institutional investors have recently modified their holdings of SLG. DekaBank Deutsche Girozentrale grew its stake in SL Green Realty by 18.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 67,923 shares of the real estate investment trust’s stock worth $3,665,000 after buying an additional 10,704 shares during the last quarter. Edgestream Partners L.P. increased its holdings in shares of SL Green Realty by 40.1% in the 2nd quarter. Edgestream Partners L.P. now owns 122,880 shares of the real estate investment trust’s stock worth $6,960,000 after acquiring an additional 35,178 shares during the period. Swedbank AB bought a new stake in SL Green Realty in the 1st quarter valued at about $4,675,000. Waterfall Asset Management LLC acquired a new position in SL Green Realty during the 2nd quarter valued at about $3,172,000. Finally, Daiwa Securities Group Inc. grew its position in SL Green Realty by 13.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 127,899 shares of the real estate investment trust’s stock worth $7,244,000 after purchasing an additional 14,871 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Stock Performance

Shares of NYSE SLG opened at $78.17 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. The company has a market cap of $5.15 billion, a PE ratio of -31.27, a price-to-earnings-growth ratio of 2.10 and a beta of 1.82. The company has a 50-day simple moving average of $74.24 and a 200-day simple moving average of $64.73. SL Green Realty has a 12 month low of $32.78 and a 12 month high of $82.81.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results 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 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 firm posted $1.27 earnings per share. On average, equities analysts anticipate that SL Green Realty will post 7.6 earnings per share for the current year.

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.00 annualized dividend and a dividend yield of 3.84%. SL Green Realty’s dividend payout ratio (DPR) is presently -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.