SL Green Realty (NYSE:SLG) Price Target Raised to $67.00 at Mizuho

SL Green Realty (NYSE:SLG - Free Report) had its price objective hoisted by Mizuho from $45.00 to $67.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust's stock.

SLG has been the topic of a number of other research reports. Barclays increased their price target on shares of SL Green Realty from $66.00 to $78.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 22nd. Citigroup upgraded SL Green Realty from a "sell" rating to a "neutral" rating and raised their price target for the company from $44.00 to $66.00 in a research report on Friday, September 13th. Morgan Stanley lifted their price target on SL Green Realty from $47.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 9th. Jefferies Financial Group reduced their price objective on SL Green Realty from $75.00 to $69.00 and set a "hold" rating on the stock in a research report on Thursday, January 2nd. Finally, Compass Point upped their target price on SL Green Realty from $65.00 to $75.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, SL Green Realty presently has an average rating of "Hold" and a consensus price target of $68.38.

SL Green Realty Price Performance

Shares of SLG traded down $1.71 during mid-day trading on Tuesday, reaching $65.63. 734,414 shares of the stock traded hands, compared to its average volume of 781,978. 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 has a 1 year low of $41.81 and a 1 year high of $82.81. The company has a market cap of $4.33 billion, a price-to-earnings ratio of -26.25, a price-to-earnings-growth ratio of 4.26 and a beta of 1.82. The firm has a fifty day moving average price of $74.27 and a 200 day moving average price of $68.43.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of $1.21 by ($1.42). SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. The business had revenue of $229.69 million during the quarter, compared to the consensus estimate of $136.66 million. During the same quarter in the prior year, the company earned $1.27 earnings per share. As a group, equities research analysts predict that SL Green Realty will post 7.82 earnings per share for the current year.

SL Green Realty Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.2575 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from SL Green Realty's previous monthly dividend of $0.25. This represents a $3.09 annualized dividend and a dividend yield of 4.71%. SL Green Realty's payout ratio is -123.60%.

Institutional Trading of SL Green Realty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLG. Edgestream Partners L.P. lifted its position in shares of SL Green Realty by 40.1% in the 2nd quarter. Edgestream Partners L.P. now owns 122,880 shares of the real estate investment trust's stock worth $6,960,000 after purchasing an additional 35,178 shares during the period. Waterfall Asset Management LLC bought a new stake in SL Green Realty during the 2nd quarter valued at approximately $3,172,000. FMR LLC grew its holdings in shares of SL Green Realty by 69.1% during the 3rd quarter. FMR LLC now owns 58,185 shares of the real estate investment trust's stock worth $4,050,000 after acquiring an additional 23,780 shares during the period. Weiss Asset Management LP bought a new position in shares of SL Green Realty in the 3rd quarter worth approximately $771,000. Finally, Citigroup Inc. lifted its stake in shares of SL Green Realty by 54.6% in the 3rd quarter. Citigroup Inc. now owns 85,587 shares of the real estate investment trust's stock valued at $5,958,000 after purchasing an additional 30,220 shares during the period. Hedge funds and other 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.