SL Green Realty Corp. (NYSE:SLG) Receives Consensus Rating of “Hold” from Brokerages

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

Several equities analysts have recently weighed in on SLG shares. Evercore ISI raised their price target on SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Compass Point set a $65.00 price objective on shares of SL Green Realty and gave the company a “neutral” rating in a research report on Friday, October 18th. Scotiabank lifted their target price on shares of SL Green Realty from $68.00 to $80.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Jefferies Financial Group increased their price target 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. Finally, Morgan Stanley raised their price target on shares of SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th.

Institutional Investors Weigh In On SL Green Realty

Large investors have recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its holdings in shares of 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 worth $26,000 after buying an additional 272 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of SL Green Realty during the 2nd quarter valued at $29,000. Point72 DIFC Ltd purchased a new stake in shares of SL Green Realty in the 3rd quarter worth $35,000. Friedenthal Financial bought a new position in SL Green Realty in the 3rd quarter worth $49,000. Finally, Rothschild Investment LLC purchased a new position in SL Green Realty during the second quarter valued at $55,000. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Price Performance

Shares of SLG opened at $78.19 on Wednesday. SL Green Realty has a fifty-two week low of $36.10 and a fifty-two week high of $82.81. The firm’s 50-day simple moving average is $74.63 and its two-hundred day simple moving average is $65.25. The stock has a market cap of $5.16 billion, a PE ratio of -31.28, a price-to-earnings-growth ratio of 3.82 and a beta of 1.82. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58.

SL Green Realty (NYSE:SLG) last posted 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). The company had revenue of $229.69 million during the quarter, compared to analysts’ expectations of $136.66 million. SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. During the same quarter in the previous year, the company earned $1.27 EPS. Analysts anticipate that SL Green Realty will post 7.61 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently declared 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 of this dividend is Friday, November 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.84%. SL Green Realty’s dividend payout ratio (DPR) is currently -120.00%.

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.