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

Key Points

• SL Green Realty has a consensus analyst rating of "Hold" from 19 brokerages, with 2 sells, 10 holds, and 7 buys. The average 12-month price target is $50.75.
• Recent analyst actions have been mixed, with some firms raising targets while others cut them. Notable moves include LADENBURG THALM/SH SH increasing its target to $46, Citi lowering its target to $45, and UBS setting a $56 target.
• The stock last traded at $51.41 and the company recently paid a quarterly dividend of $0.6175 per share, or $2.47 annualized, for a yield of about 4.8%.

SL Green Realty Corporation (NYSE:SLG - Get Free Report) has earned a consensus rating of "Hold" from the nineteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $50.75.

Several brokerages have recently issued reports on SLG. LADENBURG THALM/SH SH boosted their price objective on SL Green Realty from $42.00 to $46.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Citigroup lowered their price target on SL Green Realty from $55.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, March 24th. JPMorgan Chase & Co. increased their target price on shares of SL Green Realty from $49.00 to $51.00 and gave the company a "neutral" rating in a research report on Tuesday, May 5th. Morgan Stanley lowered their target price on shares of SL Green Realty from $43.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 31st. Finally, UBS Group set a $56.00 price target on shares of SL Green Realty in a research report on Monday, July 6th.

Institutional Investors Weigh In On SL Green Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Triumph Capital Management bought a new position in SL Green Realty during the 3rd quarter valued at $45,000. Davis Capital Management bought a new stake in shares of SL Green Realty in the 1st quarter worth $46,000. Fourth Dimension Wealth LLC raised its stake in shares of SL Green Realty by 45.5% in the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust's stock worth $73,000 after buying an additional 500 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of SL Green Realty by 30.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust's stock valued at $74,000 after buying an additional 378 shares during the period. Finally, Leonteq Securities AG lifted its holdings in shares of SL Green Realty by 4,194.0% in the first quarter. Leonteq Securities AG now owns 2,147 shares of the real estate investment trust's stock valued at $79,000 after buying an additional 2,097 shares during the period. Institutional investors own 89.96% of the company's stock.

SL Green Realty Price Performance

NYSE SLG opened at $51.41 on Monday. The company has a 50-day moving average price of $48.04 and a two-hundred day moving average price of $43.93. SL Green Realty has a 52 week low of $34.77 and a 52 week high of $66.29. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of -20.48 and a beta of 1.58. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 1.18.

SL Green Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.6175 per share. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Tuesday, June 30th. SL Green Realty's dividend payout ratio (DPR) is currently -98.41%.

About SL Green Realty

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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