SL Green Realty Corporation (NYSE:SLG) Receives Average Rating of "Hold" from Brokerages

SL Green Realty Corporation (NYSE:SLG - Get Free Report) has received a consensus rating of "Hold" from the sixteen brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $65.60.

A number of equities analysts have recently commented on the company. Truist Financial dropped their target price on SL Green Realty from $62.00 to $54.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Wall Street Zen cut SL Green Realty from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Piper Sandler dropped their target price on SL Green Realty from $90.00 to $72.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Wells Fargo & Company dropped their target price on SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. dropped their price objective on SL Green Realty from $70.00 to $69.00 and set a "neutral" rating for the company in a report on Wednesday.

Institutional Investors Weigh In On SL Green Realty

A number of hedge funds have recently made changes to their positions in SLG. Walleye Capital LLC purchased a new stake in SL Green Realty in the fourth quarter valued at about $857,000. Summit Place Financial Advisors LLC raised its stake in SL Green Realty by 149.6% in the first quarter. Summit Place Financial Advisors LLC now owns 17,845 shares of the real estate investment trust's stock valued at $1,030,000 after buying an additional 10,695 shares during the last quarter. KBC Group NV raised its stake in SL Green Realty by 20.9% in the first quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust's stock valued at $193,000 after buying an additional 577 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in SL Green Realty in the fourth quarter valued at about $1,832,000. Finally, Thrivent Financial for Lutherans raised its stake in SL Green Realty by 13.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 57,780 shares of the real estate investment trust's stock valued at $3,924,000 after buying an additional 6,882 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Stock Performance

NYSE SLG opened at $62.28 on Thursday. The stock has a market capitalization of $4.44 billion, a PE ratio of -148.29 and a beta of 1.65. The business has a 50 day simple moving average of $60.00 and a two-hundred day simple moving average of $60.50. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.85 and a quick ratio of 2.85. SL Green Realty has a 1-year low of $45.15 and a 1-year high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.13. The firm 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 0.98% and a negative net margin of 1.30%. On average, research analysts predict that SL Green Realty will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Monday, June 30th. SL Green Realty's dividend payout ratio (DPR) 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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