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

Key Points

• Analysts give SL Green an average rating of Hold from 19 firms (2 sell, 9 hold, 8 buy) with a mean 1‑year price target of $51.15, implying upside from the recent ~$43.72 share price.
• The REIT pays a quarterly dividend of $0.6175 (annualized $2.47) for an approximate 5.6% yield, but the dividend payout ratio is negative (−98.41%), reflecting recent losses.
• Institutional ownership is very high at 89.96%, with large recent accumulation by State Street, Alyeska and Goldman Sachs; SLG has a $3.12B market cap and a one‑year trading range of $34.77–$66.91.

Shares of SL Green Realty Corporation (NYSE:SLG - Get Free Report) have received an average rating of "Hold" from the nineteen ratings firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $51.15.

SLG has been the topic of several recent research reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of SL Green Realty in a report on Wednesday, January 21st. Barclays reduced their price target on shares of SL Green Realty from $54.00 to $43.00 and set an "equal weight" rating for the company in a report on Thursday, February 26th. Evercore reiterated an "outperform" rating and set a $46.00 price objective on shares of SL Green Realty in a research note on Friday, April 17th. JPMorgan Chase & Co. lifted their price objective on shares of SL Green Realty from $49.00 to $51.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, Scotiabank set a $52.00 price objective on shares of SL Green Realty and gave the stock a "sector outperform" rating in a research note on Friday, March 13th.

SL Green Realty Stock Performance

Shares of NYSE:SLG opened at $43.72 on Wednesday. The firm's 50 day simple moving average is $39.13 and its 200-day simple moving average is $43.83. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.66 and a current ratio of 3.03. SL Green Realty has a one year low of $34.77 and a one year high of $66.91. The firm has a market cap of $3.12 billion, a PE ratio of -17.42 and a beta of 1.60.

SL Green Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.6175 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $2.47 dividend on an annualized basis and a dividend yield of 5.6%. SL Green Realty's dividend payout ratio (DPR) is currently -98.41%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SLG. State Street Corp lifted its position in shares of SL Green Realty by 1.0% during the second quarter. State Street Corp now owns 4,257,874 shares of the real estate investment trust's stock valued at $264,636,000 after buying an additional 41,873 shares during the last quarter. Alyeska Investment Group L.P. lifted its position in SL Green Realty by 25.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 3,041,226 shares of the real estate investment trust's stock valued at $139,501,000 after acquiring an additional 617,488 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in SL Green Realty by 62.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust's stock valued at $133,862,000 after acquiring an additional 1,117,357 shares in the last quarter. Cohen & Steers Inc. acquired a new stake in SL Green Realty in the fourth quarter valued at approximately $121,675,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in SL Green Realty by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,561,121 shares of the real estate investment trust's stock worth $71,609,000 after purchasing an additional 32,779 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

SL Green Realty Company Profile

SL Green Realty Corp. NYSE: SLG is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City's largest office landlords, the company's portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.

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