SL Green Realty (NYSE:SLG) Rating Increased to Sector Perform at Scotiabank

Scotiabank upgraded shares of SL Green Realty (NYSE:SLG) from a sector underperform rating to a sector perform rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have $53.00 price target on the real estate investment trust’s stock, up from their previous price target of $43.00.

A number of other research analysts also recently issued reports on the stock. Barclays upgraded shares of SL Green Realty from an underweight rating to an equal weight rating and upped their target price for the company from $35.00 to $48.00 in a research report on Wednesday, March 27th. Piper Sandler restated an overweight rating and set a $58.00 target price on shares of SL Green Realty in a research report on Tuesday, March 26th. StockNews.com upgraded shares of SL Green Realty to a sell rating in a research report on Wednesday, May 8th. Morgan Stanley upped their target price 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. Finally, BMO Capital Markets upgraded shares of SL Green Realty from a market perform rating to an outperform rating and upped their target price for the company from $56.00 to $58.00 in a research report on Thursday, April 18th. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $45.38.

SL Green Realty Stock Up 6.4 %

Shares of NYSE:SLG opened at $60.88 on Tuesday. SL Green Realty has a 52 week low of $28.55 and a 52 week high of $61.43. 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’s fifty day moving average is $53.96 and its 200-day moving average is $50.27. The company has a market capitalization of $4.01 billion, a PE ratio of -7.31, a P/E/G ratio of 1.03 and a beta of 1.83.

SL Green Realty Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.00 dividend on an annualized basis and a yield of 4.93%. SL Green Realty’s payout ratio is -36.32%.

Institutional Trading of SL Green Realty

A number of large investors have recently bought and sold shares of the business. Private Trust Co. NA acquired a new position in SL Green Realty during the 4th quarter worth approximately $33,000. Fidelis Capital Partners LLC acquired a new position in SL Green Realty during the 1st quarter worth approximately $55,000. Rosenberg Matthew Hamilton boosted its position in 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 worth $117,000 after acquiring an additional 227 shares during the last quarter. GAMMA Investing LLC acquired a new position in SL Green Realty during the 4th quarter worth approximately $140,000. Finally, Meeder Advisory Services Inc. acquired a new position in SL Green Realty during the 1st quarter worth approximately $201,000. 89.96% of the stock is owned by institutional investors.

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.