SL Green Realty's (SLG) "Overweight" Rating Reaffirmed at Piper Sandler

Piper Sandler restated their overweight rating on shares of SL Green Realty (NYSE:SLG - Free Report) in a research report report published on Monday morning, Benzinga reports. Piper Sandler currently has a $90.00 target price on the real estate investment trust's stock, up from their prior target price of $75.00.

Several other equities analysts have also commented on the stock. Truist Financial boosted their target price on shares of SL Green Realty from $47.00 to $55.00 and gave the company a "hold" rating in a research report on Friday, July 19th. Bank of America upped their target price on SL Green Realty from $59.00 to $62.00 and gave the company a "neutral" rating in a report on Thursday, August 22nd. Compass Point set a $65.00 price objective on SL Green Realty and gave the company a "neutral" rating in a research note on Friday. StockNews.com upgraded shares of SL Green Realty to a "sell" rating in a research report on Friday, July 19th. Finally, Evercore ISI boosted their price target on shares of SL Green Realty from $67.00 to $79.00 and gave the company an "in-line" rating in a research note on Monday. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $63.86.

SL Green Realty Stock Down 2.5 %

Shares of SLG stock traded down $1.98 during trading hours on Monday, hitting $76.79. 769,516 shares of the company were exchanged, compared to its average volume of 988,865. SL Green Realty has a 52 week low of $28.55 and a 52 week high of $79.08. The company has a current ratio of 2.58, a quick ratio of 2.59 and a debt-to-equity ratio of 1.07. The business has a 50 day moving average of $67.89 and a two-hundred day moving average of $59.90. The company has a market capitalization of $5.00 billion, a PE ratio of -30.72, a PEG ratio of 2.18 and a beta of 1.83.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.21 by ($1.42). The business had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. During the same quarter last year, the business earned $1.27 earnings per share. Analysts anticipate that SL Green Realty will post 7.62 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a yield of 3.91%. SL Green Realty's payout ratio is currently -120.00%.

Institutional Investors Weigh In On SL Green Realty

Several institutional investors have recently modified their holdings of SLG. Allspring Global Investments Holdings LLC bought a new position in SL Green Realty in the 2nd quarter worth $29,000. Friedenthal Financial bought a new position in SL Green Realty in the 3rd quarter valued at $49,000. Fidelis Capital Partners LLC purchased a new position in SL Green Realty in the 1st quarter worth about $55,000. Rothschild Investment LLC bought a new stake in shares of SL Green Realty during the second quarter valued at approximately $55,000. Finally, Blue Trust Inc. increased its stake in shares of SL Green Realty by 363.2% during the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust's stock valued at $56,000 after buying an additional 632 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

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.