SL Green Realty Corp. (NYSE:SLG) Receives Consensus Rating of "Hold" from Brokerages

SL Green Realty Corp. (NYSE:SLG - Get Free Report) has been assigned a consensus recommendation of "Hold" from the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $67.07.

Several brokerages have issued reports on SLG. Bank of America dropped their price objective on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. Jefferies Financial Group began coverage on SL Green Realty in a research report on Monday, March 17th. They set a "hold" rating and a $58.00 price target on the stock. Evercore ISI raised SL Green Realty from an "in-line" rating to an "outperform" rating and decreased their price objective for the company from $74.00 to $73.00 in a report on Monday, March 17th. Scotiabank cut their target price on shares of SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Finally, Barclays decreased their price target on shares of SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday.

SL Green Realty Stock Up 1.8 %

Shares of SLG traded up $0.92 during mid-day trading on Friday, reaching $53.53. The company's stock had a trading volume of 134,123 shares, compared to its average volume of 874,619. 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 has a 12-month low of $45.15 and a 12-month high of $82.81. The stock has a market cap of $3.82 billion, a PE ratio of 669.14, a price-to-earnings-growth ratio of 5.30 and a beta of 1.61. The company's 50 day moving average is $56.26 and its 200 day moving average is $66.00.

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

SL Green Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Wednesday, April 30th. SL Green Realty's dividend payout ratio (DPR) is presently -735.71%.

Hedge Funds Weigh In On SL Green Realty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Xponance Inc. increased its position in SL Green Realty by 6.6% during the first quarter. Xponance Inc. now owns 5,745 shares of the real estate investment trust's stock worth $331,000 after buying an additional 357 shares in the last quarter. M&T Bank Corp increased its position in SL Green Realty by 6.6% during the 1st quarter. M&T Bank Corp now owns 5,921 shares of the real estate investment trust's stock worth $342,000 after purchasing an additional 366 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in SL Green Realty in the 1st quarter valued at about $287,000. Envestnet Asset Management Inc. lifted its holdings in SL Green Realty by 117.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 43,513 shares of the real estate investment trust's stock valued at $2,511,000 after purchasing an additional 23,457 shares in the last quarter. Finally, Summit Place Financial Advisors LLC boosted its stake in shares of SL Green Realty by 149.6% during the 1st quarter. Summit Place Financial Advisors LLC now owns 17,845 shares of the real estate investment trust's stock worth $1,030,000 after purchasing an additional 10,695 shares during the last quarter. Institutional investors and hedge funds 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.