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

SL Green Realty Corporation (NYSE:SLG - Get Free Report) has received a consensus recommendation of "Hold" from the sixteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, twelve 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 covered the stock in the last year is $65.60.

Several equities analysts have commented on the company. Barclays cut their price target on 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. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. Jefferies Financial Group started coverage on SL Green Realty in a report on Monday, March 17th. They issued a "hold" rating and a $58.00 price target for the company. Evercore ISI raised SL Green Realty from an "in-line" rating to an "outperform" rating and dropped their target price for the stock from $74.00 to $73.00 in a report on Monday, March 17th. Finally, Wall Street Zen cut SL Green Realty from a "hold" rating to a "sell" rating in a report on Saturday, May 24th.

Institutional Investors Weigh In On SL Green Realty

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp acquired a new stake in SL Green Realty during the 4th quarter valued at $39,000. Quadrant Capital Group LLC increased its holdings in SL Green Realty by 37.4% during the 4th quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 208 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of SL Green Realty in the 4th quarter valued at $75,000. GF Fund Management CO. LTD. acquired a new stake in shares of SL Green Realty in the 4th quarter valued at $80,000. Finally, Summit Securities Group LLC bought a new stake in shares of SL Green Realty during the fourth quarter worth $88,000. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Stock Performance

NYSE:SLG traded up $0.43 during mid-day trading on Thursday, hitting $63.93. 841,408 shares of the company's stock traded hands, compared to its average volume of 878,758. The firm has a 50 day moving average of $60.37 and a two-hundred day moving average of $60.39. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of -152.20 and a beta of 1.65. SL Green Realty has a 12 month low of $45.15 and a 12 month high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, beating the consensus estimate 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, equities analysts forecast that SL Green Realty will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

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