SL Green Realty Corp. (NYSE:SLG) Given Average Rating of "Hold" by Analysts

SL Green Realty Corp. (NYSE:SLG - Get Free Report) has received a consensus recommendation of "Hold" from the sixteen brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $66.33.

SLG has been the topic of several research reports. Morgan Stanley increased their price target on shares of SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 12th. Evercore ISI raised SL Green Realty from an "in-line" rating to an "outperform" rating and dropped their price target for the stock from $74.00 to $73.00 in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SL Green Realty in a research report on Friday, May 23rd. Piper Sandler dropped their price objective on SL Green Realty from $90.00 to $72.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Wells Fargo & Company reduced their target price on shares of SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th.

Hedge Funds Weigh In On SL Green Realty

Large investors have recently modified their holdings of the company. Norinchukin Bank The raised its holdings in SL Green Realty by 6.6% in the fourth quarter. Norinchukin Bank The now owns 3,117 shares of the real estate investment trust's stock valued at $212,000 after buying an additional 192 shares during the period. Quadrant Capital Group LLC increased its position in shares of SL Green Realty by 37.4% in the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock worth $52,000 after acquiring an additional 208 shares in the last quarter. Mackenzie Financial Corp raised its stake 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 valued at $307,000 after acquiring an additional 240 shares during the period. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of SL Green Realty by 2.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 10,257 shares of the real estate investment trust's stock valued at $592,000 after acquiring an additional 247 shares in the last quarter. Finally, Natixis Advisors LLC boosted its position in SL Green Realty by 1.3% during the 4th quarter. Natixis Advisors LLC now owns 21,820 shares of the real estate investment trust's stock worth $1,482,000 after purchasing an additional 284 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Stock Performance

NYSE SLG opened at $65.17 on Friday. The business has a 50 day moving average price of $56.23 and a 200 day moving average price of $61.82. The company has a market capitalization of $4.65 billion, a P/E ratio of 814.63, a PEG ratio of 5.30 and a beta of 1.66. 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 0.90, a current ratio of 2.89 and a quick ratio of 2.58.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.13. The business had revenue of $144.52 million during the quarter, compared to analysts' expectations of $158.44 million. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. Sell-side analysts expect that SL Green Realty will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Friday, May 30th. SL Green Realty's payout ratio is currently -735.71%.

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.

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