Evercore ISI Raises SL Green Realty (NYSE:SLG) Price Target to $49.00

SL Green Realty (NYSE:SLG) had its price objective hoisted by Evercore ISI from $47.00 to $49.00 in a report released on Monday morning, Benzinga reports. Evercore ISI currently has an underperform rating on the real estate investment trust’s stock.

A number of other brokerages have also recently weighed in on SLG. JPMorgan Chase & Co. raised their target price on shares of SL Green Realty from $43.00 to $44.00 and gave the stock an underweight rating in a report on Thursday, April 25th. Scotiabank raised their target price on shares of SL Green Realty from $40.00 to $43.00 and gave the stock a sector underperform rating in a report on Tuesday, April 2nd. Citigroup raised their target price on shares of SL Green Realty from $31.00 to $37.00 and gave the stock a sell rating in a report on Thursday, June 13th. BMO Capital Markets upgraded shares of SL Green Realty from a market perform rating to an outperform rating and raised their target price for the stock from $56.00 to $58.00 in a report on Thursday, April 18th. Finally, Morgan Stanley upped their price target on shares of SL Green Realty from $41.00 to $47.00 and gave the company an equal weight rating in a research report on Thursday, March 28th. Seven analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SL Green Realty has a consensus rating of Hold and an average target price of $44.62.

SL Green Realty Trading Up 1.5 %

Shares of NYSE:SLG opened at $56.43 on Monday. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of -6.83, a PEG ratio of 1.05 and a beta of 1.83. SL Green Realty has a 1-year low of $28.55 and a 1-year high of $58.54. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.96 and a current ratio of 2.96. The company has a 50 day moving average price of $53.38 and a 200 day moving average price of $49.92.

SL Green Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.25 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.00 dividend on an annualized basis and a yield of 5.32%. SL Green Realty’s payout ratio is -36.32%.

Institutional Investors Weigh In On SL Green Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Trust Co. NA purchased a new stake in SL Green Realty in the 4th quarter worth approximately $33,000. Financial Gravity Asset Management Inc. raised its holdings in shares of SL Green Realty by 3,073.3% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 922 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in shares of SL Green Realty during the 1st quarter valued at $55,000. Rosenberg Matthew Hamilton raised its holdings in shares of SL Green Realty by 9.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 227 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of SL Green Realty during the 4th quarter valued at $140,000. Hedge funds and other institutional investors 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.