SL Green Realty Corp. (NYSE:SLG) Receives $71.07 Average PT from Analysts

Shares of SL Green Realty Corp. (NYSE:SLG) have been assigned a consensus recommendation of “Hold” from the fifteen research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $71.07.

A number of equities research analysts have recently commented on the company. Scotiabank increased their target price on SL Green Realty from $80.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Tuesday, December 10th. Mizuho increased their price objective on shares of SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Truist Financial lifted their target price on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, January 27th. Barclays lowered their price objective on SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company reduced their target price on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd.

Insider Buying and Selling

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the 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 transaction, the director now owns 2,052 shares in the company, valued at $136,047.60. This trade represents 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 through this link. 5.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its stake in SL Green Realty by 50.5% during the third quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock worth $202,777,000 after acquiring an additional 977,321 shares during the last quarter. Norges Bank bought a new position in shares of SL Green Realty during the 4th quarter valued at approximately $48,050,000. Vanguard Group Inc. raised its holdings in SL Green Realty by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust’s stock valued at $735,594,000 after buying an additional 564,822 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in SL Green Realty by 396.3% in the third 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 buying an additional 356,275 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of SL Green Realty during the third quarter valued at approximately $18,811,000. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

NYSE:SLG opened at $63.80 on Monday. The company has a quick ratio of 2.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.90. The firm’s fifty day simple moving average is $67.83 and its 200 day simple moving average is $69.63. The stock has a market cap of $4.21 billion, a P/E ratio of 797.50, a price-to-earnings-growth ratio of 5.49 and a beta of 1.82. SL Green Realty has a twelve month low of $42.10 and a twelve month high of $82.81.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. As a group, research analysts predict that SL Green Realty will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be paid a $0.2575 dividend. This represents a $3.09 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend is Friday, January 31st. SL Green Realty’s dividend payout ratio (DPR) is 3,862.50%.

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.