SL Green Realty (NYSE:SLG) Price Target Lowered to $69.00 at Wells Fargo & Company

SL Green Realty (NYSE:SLG - Free Report) had its price objective decreased by Wells Fargo & Company from $76.00 to $69.00 in a report issued on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust's stock.

Several other equities research analysts have also recently weighed in on SLG. Bank of America decreased their target price on 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. Evercore ISI increased their target price 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. Jefferies Financial Group reduced their price target on shares of SL Green Realty from $75.00 to $69.00 and set a "hold" rating for the company in a research report on Thursday, January 2nd. Piper Sandler reaffirmed an "overweight" rating and set a $90.00 price objective (up previously from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $87.00 target price (up from $72.00) on shares of SL Green Realty in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $71.07.

SL Green Realty Trading Up 0.6 %

SLG traded up $0.40 during mid-day trading on Monday, hitting $66.48. 250,302 shares of the stock were exchanged, compared to its average volume of 802,515. The company has a market cap of $4.38 billion, a PE ratio of 832.61, a PEG ratio of 5.54 and a beta of 1.82. The company has a current ratio of 3.21, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The firm's fifty day moving average is $68.73 and its two-hundred day moving average is $69.51. SL Green Realty has a 1-year low of $41.88 and a 1-year high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, beating 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 analysts forecast that SL Green Realty will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be given a dividend of $0.2575 per share. The ex-dividend date is Friday, January 31st. This represents a $3.09 dividend on an annualized basis and a yield of 4.65%. SL Green Realty's payout ratio is 3,862.50%.

Insider Activity at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the firm's stock in a transaction dated Friday, January 24th. The stock was 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 of the company's stock, valued at approximately $136,047.60. This trade represents a 62.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SL Green Realty

A number of hedge funds have recently made changes to their positions in SLG. Venturi Wealth Management LLC grew its position 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 valued at $26,000 after acquiring an additional 272 shares during the period. Point72 DIFC Ltd purchased a new position in SL Green Realty in the 3rd quarter valued at about $35,000. Jones Financial Companies Lllp acquired a new stake in shares of SL Green Realty during the fourth quarter valued at about $39,000. Friedenthal Financial acquired a new position in shares of SL Green Realty in the third quarter worth about $49,000. Finally, Blue Trust Inc. boosted its holdings in SL Green Realty by 363.2% in the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 632 shares during the last quarter. Institutional investors and hedge funds 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.