Shares of SL Green Realty Corporation (NYSE:SLG – Get Free Report) have been assigned a consensus recommendation of “Hold” from the seventeen brokerages that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $54.50.
Several equities research analysts have recently issued reports on the stock. Barclays raised their price objective on shares of SL Green Realty from $52.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 8th. Piper Sandler reissued an “overweight” rating and set a $62.00 price objective (down from $64.00) on shares of SL Green Realty in a report on Monday, October 26th. Scotiabank cut their target price on SL Green Realty from $60.00 to $59.00 and set a “sector outperform” rating for the company in a research note on Thursday, September 17th. Wall Street Zen raised SL Green Realty from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of SL Green Realty in a research note on Tuesday, August 25th.
View Our Latest Report on SL Green Realty
Insider Activity at SL Green Realty
In other news, insider Harrison Sitomer sold 23,113 shares of SL Green Realty 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 sale, the insider directly owned 109,468 shares in the company, valued at approximately $6,317,398.28. The trade was a 17.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.94% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new position in shares of SL Green Realty during the 2nd quarter worth approximately $33,000. Trellis Wealth Advisors LLC acquired a new stake in SL Green Realty in the 3rd quarter valued at $41,000. Global Retirement Partners LLC bought a new stake in SL Green Realty in the second quarter valued at $53,000. State of Wyoming acquired a new position in SL Green Realty during the third quarter worth $65,000. Finally, Leonteq Securities AG raised its stake in SL Green Realty by 4,194.0% during the first quarter. Leonteq Securities AG now owns 2,147 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 2,097 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.
SL Green Realty Stock Down 1.1%
SL Green Realty stock opened at $50.37 on Wednesday. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 10.21, a P/E/G ratio of 3.75 and a beta of 1.66. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.92 and a quick ratio of 3.10. SL Green Realty has a fifty-two week low of $34.77 and a fifty-two week high of $60.09. The firm has a fifty day moving average price of $51.36 and a two-hundred day moving average price of $46.86.
SL Green Realty (NYSE:SLG – Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $1.26. The company had revenue of $165.55 million for the quarter, compared to the consensus estimate of $176.97 million. SL Green Realty had a negative return on equity of 3.18% and a negative net margin of 12.03%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business posted $1.58 earnings per share. As a group, analysts forecast that SL Green Realty will post 6.29 earnings per share for the current year.
SL Green Realty Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a $0.6175 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.9%. SL Green Realty’s dividend payout ratio is currently -119.90%.
About SL Green Realty
SL Green Realty Corp. (NYSE: SLG) is a self-managed real estate investment trust focused primarily on acquiring, owning, managing and redeveloping commercial properties in Manhattan. The company is one of New York City’s prominent office landlords, with a portfolio concentrated in high-quality office buildings and related retail assets.
Its activities include leasing office and retail space, property management, redevelopment and development projects, and providing amenities and services designed to support tenants.
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