SL Green Realty (NYSE:SLG) Sets New 1-Year High at $59.98

Shares of SL Green Realty Corp. (NYSE:SLG - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $59.98 and last traded at $59.92, with a volume of 132083 shares trading hands. The stock had previously closed at $57.23.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SLG shares. Barclays raised shares of SL Green Realty from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $35.00 to $48.00 in a research note on Wednesday, March 27th. Piper Sandler reaffirmed an "overweight" rating and set a $58.00 target price on shares of SL Green Realty in a research note on Tuesday, March 26th. Citigroup raised their price target on SL Green Realty from $31.00 to $37.00 and gave the stock a "sell" rating in a research note on Thursday, June 13th. Scotiabank upgraded SL Green Realty from a "sector underperform" rating to a "sector perform" rating and boosted their price objective for the company from $43.00 to $53.00 in a report on Tuesday. Finally, Morgan Stanley increased their target price on SL Green Realty from $41.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 28th. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, SL Green Realty has an average rating of "Hold" and a consensus target price of $45.38.

SL Green Realty Stock Up 6.4 %

The business's 50 day moving average is $53.96 and its 200 day moving average is $50.27. The company has a quick ratio of 2.96, a current ratio of 2.96 and a debt-to-equity ratio of 1.01. The company has a market cap of $4.01 billion, a P/E ratio of -7.31, a P/E/G ratio of 1.03 and a beta of 1.83.

SL Green Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Friday, June 28th. SL Green Realty's payout ratio is currently -36.32%.

Hedge Funds Weigh In On SL Green Realty

A number of large investors have recently added to or reduced their stakes in the company. Private Trust Co. NA purchased a new position in shares of SL Green Realty in the 4th quarter worth approximately $33,000. Fidelis Capital Partners LLC purchased a new stake in shares of SL Green Realty during the 1st quarter valued at $55,000. Rosenberg Matthew Hamilton boosted its position in shares of SL Green Realty by 9.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust's stock worth $117,000 after purchasing an additional 227 shares in the last quarter. GAMMA Investing LLC purchased a new position in SL Green Realty during the 4th quarter worth $140,000. Finally, Meeder Advisory Services Inc. acquired a new position in SL Green Realty during the 1st quarter valued at about $201,000. 89.96% of the stock is currently owned by institutional investors.

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.