Shares of SL Green Realty Corp (NYSE:SLG) have been assigned a consensus recommendation of “Hold” from the sixteen research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $94.46.
Several equities analysts recently commented on SLG shares. Goldman Sachs Group started coverage on shares of SL Green Realty in a report on Friday, November 8th. They set a “buy” rating and a $96.00 target price on the stock. Bank of America raised shares of SL Green Realty from a “neutral” rating to a “buy” rating and set a $103.00 target price on the stock in a report on Wednesday. ValuEngine raised shares of SL Green Realty from a “sell” rating to a “hold” rating in a report on Saturday, December 7th. Morgan Stanley reduced their target price on shares of SL Green Realty from $84.50 to $78.00 and set an “underweight” rating on the stock in a report on Tuesday, September 10th. Finally, Zacks Investment Research raised shares of SL Green Realty from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Wednesday, September 11th.
SLG stock opened at $88.63 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.65 and a current ratio of 1.65. SL Green Realty has a 52 week low of $75.46 and a 52 week high of $93.91. The firm’s fifty day moving average is $85.12 and its 200 day moving average is $82.59. The firm has a market cap of $7.17 billion, a P/E ratio of 13.05, a P/E/G ratio of 3.29 and a beta of 1.06.
SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($1.33). SL Green Realty had a net margin of 15.37% and a return on equity of 3.18%. The business had revenue of $248.03 million for the quarter, compared to the consensus estimate of $243.02 million. During the same period in the prior year, the business posted $1.69 EPS. SL Green Realty’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, analysts forecast that SL Green Realty will post 6.97 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.885 per share. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.85. This represents a $3.54 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Tuesday, December 31st. SL Green Realty’s dividend payout ratio is currently 51.36%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CSat Investment Advisory L.P. raised its position in SL Green Realty by 40.4% during the 2nd quarter. CSat Investment Advisory L.P. now owns 594 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 171 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in SL Green Realty in the first quarter worth $72,000. Pearl River Capital LLC purchased a new stake in SL Green Realty in the second quarter worth $125,000. Oppenheimer Asset Management Inc. purchased a new stake in SL Green Realty in the third quarter worth $177,000. Finally, Frontier Wealth Management LLC bought a new stake in SL Green Realty in the second quarter valued at $210,000. 98.89% of the stock is currently owned by institutional investors.
About SL Green Realty
SL Green Realty Corp., an S&P 500 company and New York City'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 March 31, 2019, SL Green held interests in 96 Manhattan buildings totaling 46.4 million square feet.
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