SL Green Realty Corp. (NYSE:SLG) Receives $68.13 Average PT from Analysts

SL Green Realty Corp. (NYSE:SLG - Get Free Report) has received an average recommendation of "Hold" from the fifteen analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $68.13.

SLG has been the topic of several recent analyst reports. Truist Financial decreased their target price on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their price target on shares of SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Scotiabank lowered their price objective on shares of SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a research report on Friday, February 28th. Piper Sandler decreased their price target on SL Green Realty from $90.00 to $72.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, Morgan Stanley lifted their price objective on SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 12th.

SL Green Realty Stock Performance

Shares of SLG stock traded down $0.63 during mid-day trading on Friday, reaching $52.09. The stock had a trading volume of 300,092 shares, compared to its average volume of 848,403. SL Green Realty has a 1-year low of $45.15 and a 1-year high of $82.81. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 651.13, a PEG ratio of 5.30 and a beta of 1.61. The business's fifty day moving average is $56.47 and its 200-day moving average is $66.09.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.13. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. The firm had revenue of $144.52 million for the quarter, compared to analysts' expectations of $158.44 million. On average, research analysts forecast 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 quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be paid a $0.2575 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.03 annualized dividend and a yield of 1.98%. SL Green Realty's payout ratio is currently -735.71%.

Institutional Trading of SL Green Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp purchased a new stake in SL Green Realty in the fourth quarter valued at approximately $39,000. Quadrant Capital Group LLC increased its holdings in shares of SL Green Realty by 37.4% during the 4th quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock worth $52,000 after buying an additional 208 shares during the last quarter. Versant Capital Management Inc raised its position in shares of SL Green Realty by 17.7% in the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after buying an additional 157 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in SL Green Realty during the fourth quarter valued at about $75,000. Finally, GF Fund Management CO. LTD. acquired a new stake in SL Green Realty during the fourth quarter worth about $80,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

SL Green Realty Company Profile

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.