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

SL Green Realty Corp. (NYSE:SLG - Get Free Report) has been assigned an average recommendation of "Hold" from the fifteen research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $69.87.

A number of brokerages have recently weighed in on SLG. Bank of America dropped their price objective on shares of SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an "underweight" rating to a "neutral" rating and upped their target price for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. Compass Point lifted 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. Evercore ISI raised shares of SL Green Realty from an "in-line" rating to an "outperform" rating and lowered their target price for the stock from $74.00 to $73.00 in a research note on Monday, March 17th. Finally, Truist Financial increased their price target on SL Green Realty from $61.00 to $62.00 and gave the stock a "hold" rating in a research note on Monday, January 27th.

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Insiders Place Their Bets

In other news, Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $66.30, for a total value of $229,066.50. Following the sale, the director now directly owns 2,052 shares in the company, valued at $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.08% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new position in shares of SL Green Realty during the 3rd quarter worth about $35,000. Jones Financial Companies Lllp acquired a new stake in SL Green Realty during the 4th quarter valued at $39,000. Quadrant Capital Group LLC boosted its position in SL Green Realty by 37.4% during the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 208 shares during the period. Versant Capital Management Inc increased its holdings in shares of 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 valued at $71,000 after purchasing an additional 157 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in SL Green Realty during the fourth quarter worth approximately $75,000. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Stock Performance

Shares of SL Green Realty stock traded down $5.72 on Tuesday, reaching $52.76. 1,511,655 shares of the stock were exchanged, compared to its average volume of 852,135. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $3.76 billion, a PE ratio of 659.50, a PEG ratio of 5.30 and a beta of 1.82. SL Green Realty has a 1-year low of $47.22 and a 1-year high of $82.81. The business has a fifty day moving average price of $62.23 and a two-hundred day moving average price of $68.68.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, topping the consensus estimate of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. As a group, research analysts anticipate that SL Green Realty will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.2575 dividend. This is a positive change from SL Green Realty's previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. This represents a $1.03 annualized dividend and a dividend yield of 1.95%. SL Green Realty's payout ratio is 3,862.50%.

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.