SL Green Realty Corporation (NYSE:SLG) Receives $67.19 Consensus PT from Brokerages

Shares of SL Green Realty Corporation (NYSE:SLG) have earned an average rating of “Hold” from the sixteen analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $65.00.

SLG has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on SL Green Realty from $69.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of SL Green Realty in a research note on Wednesday, October 8th. New Street Research set a $72.00 target price on SL Green Realty in a research note on Thursday, October 9th. Evercore ISI cut their target price on SL Green Realty from $72.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Truist Financial set a $54.00 target price on SL Green Realty and gave the company a “hold” rating in a research note on Tuesday.

SL Green Realty Trading Up 0.9%

Shares of SLG stock opened at $53.06 on Friday. SL Green Realty has a 1 year low of $45.15 and a 1 year high of $82.81. The company has a debt-to-equity ratio of 1.04, a current ratio of 3.22 and a quick ratio of 2.72. The stock’s 50 day simple moving average is $58.23 and its two-hundred day simple moving average is $58.00. The company has a market cap of $3.78 billion, a PE ratio of 5,310.91 and a beta of 1.77.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.24. SL Green Realty had a negative return on equity of 0.22% and a net margin of 1.75%.The business had revenue of $149.67 million for the quarter, compared to the consensus estimate of $170.27 million. During the same period in the prior year, the business posted $1.26 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts predict that SL Green Realty will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.2575 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. SL Green Realty’s dividend payout ratio is currently 30,900.00%.

Insider Activity at SL Green Realty

In other news, Director Carol N. Brown sold 937 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $63.09, for a total transaction of $59,115.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ethic Inc. boosted its position in SL Green Realty by 2.4% during the 3rd quarter. Ethic Inc. now owns 8,132 shares of the real estate investment trust’s stock valued at $486,000 after acquiring an additional 193 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of SL Green Realty by 0.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 33,200 shares of the real estate investment trust’s stock worth $2,055,000 after purchasing an additional 200 shares in the last quarter. MAI Capital Management boosted its position in shares of SL Green Realty by 25.9% in the 2nd quarter. MAI Capital Management now owns 988 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 203 shares in the last quarter. Amalgamated Bank boosted its position in shares of SL Green Realty by 1.2% in the 2nd quarter. Amalgamated Bank now owns 20,245 shares of the real estate investment trust’s stock worth $1,253,000 after purchasing an additional 235 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of SL Green Realty by 4.7% in the 1st quarter. Mackenzie Financial Corp now owns 5,324 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 240 shares in the last quarter. 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.