SL Green Realty (NYSE:SLG) Given New $69.00 Price Target at JPMorgan Chase & Co.

SL Green Realty (NYSE:SLG - Free Report) had its price target decreased by JPMorgan Chase & Co. from $70.00 to $69.00 in a research note released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust's stock.

SLG has been the topic of several other reports. 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. Piper Sandler decreased their target price on shares of SL Green Realty from $90.00 to $72.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Evercore ISI upgraded shares of SL Green Realty from an "in-line" rating to an "outperform" rating and decreased their target price for the company from $74.00 to $73.00 in a research report on Monday, March 17th. Morgan Stanley lifted their price target on shares of SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a report on Wednesday, March 12th. Finally, Barclays cut 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. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $65.60.

SL Green Realty Stock Performance

NYSE SLG traded up $0.43 during midday trading on Wednesday, hitting $63.93. The company had a trading volume of 841,408 shares, compared to its average volume of 880,135. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 0.99. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of -152.20 and a beta of 1.65. The firm has a fifty day simple moving average of $60.20 and a two-hundred day simple moving average of $60.47. SL Green Realty has a fifty-two week low of $45.15 and a fifty-two week 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.13. SL Green Realty had a negative net margin of 1.30% and a negative return on equity of 0.98%. The company had revenue of $144.52 million for the quarter, compared to analyst estimates of $158.44 million. Equities analysts forecast that SL Green Realty will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

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

Hedge Funds Weigh In On SL Green Realty

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

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.