SL Green Realty (NYSE:SLG) Price Target Cut to $76.00 by Analysts at Barclays

SL Green Realty (NYSE:SLG - Free Report) had its price objective trimmed by Barclays from $78.00 to $76.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust's stock.

Other analysts have also recently issued reports about the company. Mizuho boosted their price objective on SL Green Realty from $45.00 to $67.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Bank of America lowered their target price 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. Piper Sandler reissued an "overweight" rating and issued a $90.00 price target (up previously from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Compass Point lifted their price objective on SL Green Realty from $65.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. upgraded SL Green Realty from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $51.00 to $80.00 in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, SL Green Realty presently has an average rating of "Hold" and a consensus target price of $70.67.

SL Green Realty Price Performance

SL Green Realty stock traded up $0.71 during trading hours on Tuesday, hitting $66.93. 443,046 shares of the stock were exchanged, compared to its average volume of 837,711. The stock has a market capitalization of $4.41 billion, a P/E ratio of 836.58, a P/E/G ratio of 5.20 and a beta of 1.82. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 3.21. SL Green Realty has a 12 month low of $41.88 and a 12 month high of $82.81. The business's 50-day moving average is $69.74 and its two-hundred day moving average is $69.33.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, topping the consensus estimate 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%. Equities research analysts expect that SL Green Realty will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be issued a $0.2575 dividend. This represents a $3.09 annualized dividend and a dividend yield of 4.62%. The ex-dividend date is Friday, January 31st. SL Green Realty's payout ratio is presently 3,862.50%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its position in shares of SL Green Realty by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 39,786 shares of the real estate investment trust's stock valued at $2,253,000 after acquiring an additional 557 shares during the period. Xponance Inc. grew its position in shares of SL Green Realty by 6.6% during the 2nd quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust's stock worth $240,000 after purchasing an additional 262 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of SL Green Realty by 5.4% during the second quarter. AQR Capital Management LLC now owns 11,062 shares of the real estate investment trust's stock worth $621,000 after purchasing an additional 569 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of SL Green Realty by 3.7% in the second quarter. The Manufacturers Life Insurance Company now owns 40,780 shares of the real estate investment trust's stock valued at $2,310,000 after buying an additional 1,459 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of SL Green Realty by 11.6% in the second quarter. Mackenzie Financial Corp now owns 5,088 shares of the real estate investment trust's stock valued at $288,000 after buying an additional 530 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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.