SL Green Realty Corp. (NYSE:SLG) Given Average Rating of "Hold" by Analysts

Shares of SL Green Realty Corp. (NYSE:SLG - Get Free Report) have received an average rating of "Hold" from the fifteen research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $70.67.

Several equities analysts have recently issued reports on the company. Scotiabank decreased their price target on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a research report on Friday, February 28th. Mizuho raised their target price on SL Green Realty from $45.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Compass Point boosted their price target on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a "neutral" rating in a report on Wednesday, December 11th. Barclays decreased their price objective on shares of SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating for the company in a report on Tuesday, January 28th. Finally, Wells Fargo & Company dropped their target price on shares of SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd.

SL Green Realty Stock Down 3.6 %

SLG traded down $2.22 during midday trading on Friday, reaching $59.74. 926,020 shares of the company were exchanged, compared to its average volume of 849,154. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 746.74, a price-to-earnings-growth ratio of 5.30 and a beta of 1.82. SL Green Realty has a one year low of $47.22 and a one year high of $82.81. The company's fifty day moving average price is $65.02 and its 200 day moving average price is $69.66. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89.

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SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, beating analysts' consensus estimates of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. As a group, analysts expect that SL Green Realty will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $0.2575 dividend. This represents a $3.09 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date is Friday, February 28th. SL Green Realty's payout ratio is 3,862.50%.

Insider Activity

In related news, Director Craig M. Hatkoff sold 3,455 shares of the business's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $66.30, for a total transaction of $229,066.50. Following the completion of the transaction, the director now directly owns 2,052 shares in the company, valued at $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.08% of the stock is owned by company insiders.

Institutional Trading of SL Green Realty

A number of large investors have recently modified their holdings of SLG. Venturi Wealth Management LLC raised its stake in SL Green Realty by 272.0% in the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 272 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of SL Green Realty during the 3rd quarter valued at $35,000. Jones Financial Companies Lllp bought a new stake in shares of SL Green Realty during the 4th quarter worth $39,000. Quadrant Capital Group LLC lifted its holdings in shares of SL Green Realty by 37.4% during the 4th quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock worth $52,000 after acquiring an additional 208 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in SL Green Realty by 17.7% in the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 157 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

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.