Brokerages Set SL Green Realty Corporation (NYSE:SLG) Price Target at $50.90

Shares of SL Green Realty Corporation (NYSE:SLG) have earned a consensus rating of “Hold” from the nineteen research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $50.90.

A number of equities analysts recently commented on SLG shares. Deutsche Bank Aktiengesellschaft raised shares of SL Green Realty from a “hold” rating to a “buy” rating and dropped their price target for the stock from $45.00 to $44.00 in a research note on Wednesday, March 18th. Piper Sandler decreased their price objective on shares of SL Green Realty from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Scotiabank restated an “outperform” rating on shares of SL Green Realty in a research report on Thursday, May 21st. Weiss Ratings raised SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Finally, Truist Financial increased their price target on SL Green Realty from $44.00 to $46.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd.

SL Green Realty Trading Up 0.9%

SLG stock opened at $52.23 on Thursday. The firm has a fifty day moving average price of $46.35 and a 200 day moving average price of $43.48. SL Green Realty has a fifty-two week low of $34.77 and a fifty-two week high of $66.29. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.03 and a current ratio of 3.03. The firm has a market cap of $3.73 billion, a PE ratio of -20.81 and a beta of 1.58.

SL Green Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.6175 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.47 dividend on an annualized basis and a yield of 4.7%. SL Green Realty’s payout ratio is presently -98.41%.

Institutional Trading of SL Green Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Glenmede Trust Co. NA lifted its position in shares of SL Green Realty by 3.8% during the first quarter. Glenmede Trust Co. NA now owns 17,370 shares of the real estate investment trust’s stock worth $642,000 after purchasing an additional 639 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of SL Green Realty by 226.6% in the first quarter. Bank of America Corp DE now owns 744,053 shares of the real estate investment trust’s stock worth $27,485,000 after purchasing an additional 516,242 shares during the last quarter. Amundi grew its holdings in shares of SL Green Realty by 8.2% in the first quarter. Amundi now owns 51,784 shares of the real estate investment trust’s stock worth $1,913,000 after purchasing an additional 3,932 shares during the last quarter. Adelante Capital Management LLC increased its stake in SL Green Realty by 8.4% in the 1st quarter. Adelante Capital Management LLC now owns 104,960 shares of the real estate investment trust’s stock worth $3,877,000 after buying an additional 8,135 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in SL Green Realty by 24.7% during the 1st quarter. California State Teachers Retirement System now owns 83,892 shares of the real estate investment trust’s stock valued at $3,099,000 after buying an additional 16,630 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

About SL Green Realty

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.