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

Shares of SL Green Realty Corporation (NYSE:SLG - Get Free Report) have been assigned a consensus recommendation of "Hold" from the sixteen analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $65.60.

Several analysts recently issued reports on the stock. Piper Sandler decreased their price objective on shares of SL Green Realty from $90.00 to $72.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Barclays reduced 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 report on Wednesday, April 30th. Wells Fargo & Company reduced their price target on shares of 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. JPMorgan Chase & Co. reduced their price target on shares of SL Green Realty from $70.00 to $69.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd.

SL Green Realty Stock Performance

Shares of NYSE SLG traded up $0.38 during trading hours on Thursday, hitting $63.88. 207,956 shares of the stock were exchanged, compared to its average volume of 877,698. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.85 and a quick ratio of 2.85. The company's 50 day moving average is $60.20 and its 200 day moving average is $60.47. The firm has a market capitalization of $4.55 billion, a P/E ratio of -151.55 and a beta of 1.65. SL Green Realty has a one year low of $45.15 and a one year high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.13. The business had revenue of $144.52 million during the quarter, compared to the consensus estimate of $158.44 million. SL Green Realty had a negative net margin of 1.30% and a negative return on equity of 0.98%. On average, research analysts expect that SL Green Realty will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Monday, June 30th. SL Green Realty's payout ratio is -735.71%.

Hedge Funds Weigh In On SL Green Realty

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp acquired a new stake in shares of SL Green Realty during the 4th quarter worth about $39,000. Victory Capital Management Inc. increased its position in shares of SL Green Realty by 10.8% during the 4th quarter. Victory Capital Management Inc. now owns 26,486 shares of the real estate investment trust's stock worth $1,799,000 after purchasing an additional 2,586 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of SL Green Realty during the 4th quarter worth about $7,705,000. Arizona State Retirement System increased its position in shares of SL Green Realty by 3.2% during the 4th quarter. Arizona State Retirement System now owns 18,811 shares of the real estate investment trust's stock worth $1,278,000 after purchasing an additional 588 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of SL Green Realty during the 4th quarter worth about $1,275,000. 89.96% of the stock is owned by institutional investors.

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.