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

Shares of SL Green Realty Corp. (NYSE:SLG - Get Free Report) have earned an average recommendation of "Hold" from the sixteen ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $66.33.

A number of research firms recently issued reports on SLG. Jefferies Financial Group started coverage on SL Green Realty in a research note on Monday, March 17th. They set a "hold" rating and a $58.00 target price for the company. Bank of America reduced their price target on shares of SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Wells Fargo & Company dropped their price objective 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. Truist Financial cut their price objective on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Finally, Scotiabank lowered their target price on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a report on Friday, February 28th.

Institutional Trading of SL Green Realty

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLG. Norinchukin Bank The grew its position in shares of SL Green Realty by 6.6% in the 4th quarter. Norinchukin Bank The now owns 3,117 shares of the real estate investment trust's stock valued at $212,000 after acquiring an additional 192 shares during the period. Quadrant Capital Group LLC grew its holdings in SL Green Realty by 37.4% during the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 208 shares during the period. Mackenzie Financial Corp increased its position in SL Green Realty by 4.7% during the first quarter. Mackenzie Financial Corp now owns 5,324 shares of the real estate investment trust's stock worth $307,000 after buying an additional 240 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in SL Green Realty by 2.5% in the first 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 buying an additional 247 shares during the period. Finally, Natixis Advisors LLC raised its stake in SL Green Realty by 1.3% in the fourth quarter. Natixis Advisors LLC now owns 21,820 shares of the real estate investment trust's stock valued at $1,482,000 after buying an additional 284 shares during the period. 89.96% of the stock is owned by institutional investors.

SL Green Realty Trading Up 0.6%

Shares of NYSE SLG traded up $0.31 during midday trading on Wednesday, reaching $55.54. 705,881 shares of the stock were exchanged, compared to its average volume of 841,025. SL Green Realty has a 12 month low of $45.15 and a 12 month high of $82.81. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 694.25, a P/E/G ratio of 5.30 and a beta of 1.59. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. The business has a 50-day simple moving average of $54.72 and a two-hundred day simple moving average of $63.32.

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 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $158.44 million. As a group, equities research analysts expect that SL Green Realty will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Friday, May 30th. SL Green Realty's payout ratio is presently -735.71%.

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.