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

Shares of SL Green Realty Corp. (NYSE:SLG - Get Free Report) have been given a consensus recommendation of "Hold" by the sixteen analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $68.38.

SLG has been the topic of a number of analyst reports. Mizuho increased their price target 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. Morgan Stanley raised their target price on shares of SL Green Realty from $47.00 to $50.00 and gave the company an "equal weight" rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $51.00 to $80.00 in a report on Tuesday, December 10th. Compass Point raised their price objective on shares of SL Green Realty from $65.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, December 11th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $87.00 target price (up previously from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st.

SL Green Realty Stock Down 0.1 %

SL Green Realty stock traded down $0.05 during mid-day trading on Thursday, reaching $65.38. 590,097 shares of the company's stock were exchanged, compared to its average volume of 776,720. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. SL Green Realty has a twelve month low of $41.81 and a twelve month high of $82.81. The company has a market cap of $4.31 billion, a P/E ratio of -26.15, a P/E/G ratio of 5.08 and a beta of 1.82. The company has a fifty day moving average of $72.11 and a 200-day moving average of $68.72.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($1.42). SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. The company had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. During the same quarter in the previous year, the business posted $1.27 earnings per share. Sell-side analysts expect that SL Green Realty will post 7.83 EPS for the current year.

SL Green Realty Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.2575 dividend. This represents a $3.09 dividend on an annualized basis and a dividend yield of 4.73%. This is a boost from SL Green Realty's previous monthly dividend of $0.25. The ex-dividend date was Tuesday, December 31st. SL Green Realty's payout ratio is presently -123.60%.

Institutional Investors Weigh In On SL Green Realty

A number of institutional investors and hedge funds have recently made changes to their positions in SLG. Wellington Management Group LLP increased its stake in SL Green Realty by 50.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust's stock valued at $202,777,000 after buying an additional 977,321 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of SL Green Realty by 396.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,170 shares of the real estate investment trust's stock worth $31,058,000 after buying an additional 356,275 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of SL Green Realty in the third quarter valued at about $18,811,000. Charles Schwab Investment Management Inc. lifted its stake in SL Green Realty by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust's stock valued at $88,275,000 after buying an additional 97,653 shares in the last quarter. Finally, Lighthouse Investment Partners LLC lifted its position in shares of SL Green Realty by 150.0% in the second quarter. Lighthouse Investment Partners LLC now owns 150,000 shares of the real estate investment trust's stock valued at $8,496,000 after acquiring an additional 90,000 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other 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.