SL Green Realty Corp. (NYSE:SLG) Receives Average Rating of "Hold" from Brokerages

Shares of SL Green Realty Corp. (NYSE:SLG - Get Free Report) have received an average recommendation of "Hold" from the fifteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $66.00.

A number of brokerages recently commented on SLG. Barclays lifted their target price on shares of SL Green Realty from $66.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group boosted their price objective on shares of SL Green Realty from $38.00 to $42.00 and gave the company a "sell" rating in a research report on Wednesday, July 31st. Evercore ISI boosted their price objective on shares of SL Green Realty from $67.00 to $79.00 and gave the company an "in-line" rating in a research report on Monday, October 21st. Citigroup upgraded shares of SL Green Realty from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $44.00 to $66.00 in a research report on Friday, September 13th. Finally, Jefferies Financial Group boosted their price objective on shares of SL Green Realty from $70.00 to $72.00 and gave the company a "hold" rating in a research report on Friday, November 22nd.

SL Green Realty Stock Performance

Shares of NYSE:SLG opened at $78.17 on Wednesday. The company's fifty day moving average is $74.24 and its 200 day moving average is $64.73. SL Green Realty has a 52 week low of $32.78 and a 52 week high of $82.81. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) 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 analysts' expectations of $136.66 million. SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. During the same quarter in the previous year, the business earned $1.27 EPS. As a group, equities research analysts predict that SL Green Realty will post 7.61 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Friday, November 29th. SL Green Realty's payout ratio is currently -120.00%.

Institutional Investors Weigh In On SL Green Realty

Several hedge funds have recently bought and sold shares of the business. Rosenberg Matthew Hamilton boosted its stake in SL Green Realty by 6.6% during the third quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust's stock worth $161,000 after acquiring an additional 144 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in SL Green Realty by 4.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust's stock worth $262,000 after acquiring an additional 148 shares in the last quarter. MML Investors Services LLC boosted its stake in SL Green Realty by 2.7% during the third quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust's stock worth $427,000 after acquiring an additional 161 shares in the last quarter. Xponance Inc. boosted its stake in SL Green Realty by 6.6% during the second quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust's stock worth $240,000 after acquiring an additional 262 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 272 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

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.