Wall Street Zen upgraded shares of SL Green Realty (NYSE:SLG – Free Report) from a strong sell rating to a sell rating in a research note released on Saturday,Wall Street Zen reports.
A number of other research analysts have also recently issued reports on the company. Truist Financial set a $57.00 price objective on SL Green Realty and gave the company a “hold” rating in a research note on Monday, August 24th. Citigroup reissued a “buy” rating and issued a $60.00 target price (up from $45.00) on shares of SL Green Realty in a research note on Friday, July 24th. Barclays set a $52.00 price target on SL Green Realty and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of SL Green Realty in a research report on Tuesday, August 25th. Finally, LADENBURG THALM/SH SH upped their price target on shares of SL Green Realty from $42.00 to $46.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SL Green Realty currently has an average rating of “Hold” and a consensus price target of $56.83.
View Our Latest Stock Report on SLG
SL Green Realty Price Performance
SL Green Realty (NYSE:SLG – Get Free Report) last released its earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.21. The firm had revenue of $264.00 million during the quarter, compared to analyst estimates of $179.01 million. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.37%. The business’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the business earned $1.63 earnings per share. Analysts anticipate that SL Green Realty will post 5.53 earnings per share for the current fiscal year.
SL Green Realty Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.6175 dividend. This represents a $2.47 annualized dividend and a yield of 4.4%. The ex-dividend date was Tuesday, June 30th. SL Green Realty’s dividend payout ratio (DPR) is presently -90.48%.
Insiders Place Their Bets
In other SL Green Realty news, insider Harrison Sitomer sold 23,113 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $57.71, for a total transaction of $1,333,851.23. Following the transaction, the insider owned 109,468 shares in the company, valued at approximately $6,317,398.28. This represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.94% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in SLG. Triumph Capital Management purchased a new stake in SL Green Realty in the third quarter worth approximately $45,000. Davis Capital Management bought a new position in shares of SL Green Realty during the 1st quarter valued at $46,000. Global Retirement Partners LLC bought a new position in shares of SL Green Realty during the 2nd quarter valued at $53,000. Fourth Dimension Wealth LLC boosted its stake in shares of SL Green Realty by 45.5% in the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 500 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of SL Green Realty by 30.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock worth $74,000 after buying an additional 378 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.
About SL Green Realty
SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.
Founded in 1980 by real estate investor Stephen L.
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