SL Green Realty Corporation (NYSE:SLG) Receives $67.29 Average Price Target from Brokerages

Key Points

• SL Green Realty Corporation (NYSE:SLG) has received a consensus rating of "Hold" from analysts, with eleven rating the stock as hold and four as buy, while the average target price is $67.29.
• Recent insider activity saw Director Carol N. Brown selling 2,500 shares for approximately $151,525, marking a 72.74% decrease in her ownership of the stock.
• The company reported a negative net margin of 2.21% for the last quarter, with earnings per share of $1.63, surpassing the consensus estimate of $1.37.

Shares of SL Green Realty Corporation (NYSE:SLG - Get Free Report) have been assigned an average rating of "Hold" from the fifteen research firms that are currently covering the stock, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $67.2857.

A number of research firms have weighed in on SLG. Truist Financial raised their price objective on shares of SL Green Realty from $54.00 to $58.00 and gave the stock a "hold" rating in a report on Friday, July 18th. Scotiabank raised shares of SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 target price on the stock in a report on Friday, July 25th. JPMorgan Chase & Co. lowered their price objective on SL Green Realty from $70.00 to $69.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Wells Fargo & Company decreased their target price on shares of SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SL Green Realty in a research report on Friday, May 23rd.

Insider Activity at SL Green Realty

In related news, Director Carol N. Brown sold 2,500 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $60.61, for a total value of $151,525.00. Following the sale, the director directly owned 937 shares in the company, valued at $56,791.57. The trade was a 72.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its holdings in SL Green Realty by 0.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 33,200 shares of the real estate investment trust's stock valued at $2,055,000 after purchasing an additional 200 shares in the last quarter. MAI Capital Management increased its position in SL Green Realty by 25.9% during the 2nd quarter. MAI Capital Management now owns 988 shares of the real estate investment trust's stock worth $61,000 after purchasing an additional 203 shares in the last quarter. Amalgamated Bank boosted its position in shares of SL Green Realty by 1.2% in the second quarter. Amalgamated Bank now owns 20,245 shares of the real estate investment trust's stock worth $1,253,000 after buying an additional 235 shares during the period. Mackenzie Financial Corp boosted its holdings in SL Green Realty by 4.7% in the 1st quarter. Mackenzie Financial Corp now owns 5,324 shares of the real estate investment trust's stock worth $307,000 after acquiring an additional 240 shares during the period. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in SL Green Realty by 2.5% during the 1st 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 purchasing an additional 247 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Stock Down 0.0%

Shares of NYSE SLG traded down $0.02 during midday trading on Friday, hitting $56.86. The company's stock had a trading volume of 867,688 shares, compared to its average volume of 813,286. The business's fifty day simple moving average is $58.64 and its two-hundred day simple moving average is $58.26. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of -105.30 and a beta of 1.69. SL Green Realty has a 1 year low of $45.15 and a 1 year high of $82.81. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.72 and a quick ratio of 2.72.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.26. The firm had revenue of $147.54 million for the quarter, compared to analysts' expectations of $171.24 million. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The firm's revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 earnings per share. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. On average, equities analysts predict that SL Green Realty will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The firm also recently disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.2575 dividend. The ex-dividend date is Friday, August 29th. This represents a dividend yield of 543.0%. SL Green Realty's payout ratio is currently -572.22%.

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.