SL Green Realty Corporation (NYSE:SLG) Given Consensus Recommendation of “Hold” by Analysts

Shares of SL Green Realty Corporation (NYSE:SLG) have been given a consensus recommendation of “Hold” by the sixteen brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $64.3333.

SLG has been the topic of a number of research reports. Scotiabank set a $66.00 price objective on SL Green Realty and gave the company a “sector outperform” rating in a report on Friday, October 24th. Truist Financial set a $54.00 price target on shares of SL Green Realty and gave the company a “hold” rating in a research report on Tuesday, October 21st. Jefferies Financial Group upgraded shares of SL Green Realty from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $57.00 to $63.00 in a report on Monday, October 13th. LADENBURG THALM/SH SH initiated coverage on shares of SL Green Realty in a research note on Monday, October 13th. They issued a “neutral” rating and a $63.00 price objective for the company. Finally, Bank of America decreased their target price on shares of SL Green Realty from $64.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, October 17th.

Insider Buying and Selling at SL Green Realty

In related news, Director Carol N. Brown sold 937 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $63.09, for a total transaction of $59,115.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.04% of the company’s stock.

Institutional Trading of SL Green Realty

Several hedge funds and other institutional investors have recently bought and sold shares of SLG. Triumph Capital Management purchased a new stake in shares of SL Green Realty during the third quarter valued at approximately $45,000. Dark Forest Capital Management LP raised its holdings in SL Green Realty by 38.4% during the 3rd quarter. Dark Forest Capital Management LP now owns 72,242 shares of the real estate investment trust’s stock valued at $4,321,000 after buying an additional 20,028 shares during the last quarter. Verition Fund Management LLC boosted its position in SL Green Realty by 93.0% during the 3rd quarter. Verition Fund Management LLC now owns 185,386 shares of the real estate investment trust’s stock valued at $11,088,000 after buying an additional 89,353 shares during the period. Qube Research & Technologies Ltd grew its holdings in SL Green Realty by 162.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 78,114 shares of the real estate investment trust’s stock worth $4,672,000 after acquiring an additional 48,321 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of SL Green Realty by 3.7% in the third quarter. Northern Trust Corp now owns 1,543,987 shares of the real estate investment trust’s stock valued at $92,346,000 after acquiring an additional 54,890 shares during the period. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

SL Green Realty stock opened at $44.58 on Wednesday. SL Green Realty has a fifty-two week low of $43.74 and a fifty-two week high of $80.90. The company has a debt-to-equity ratio of 1.04, a quick ratio of 2.72 and a current ratio of 3.22. The stock has a market cap of $3.18 billion, a P/E ratio of 4,462.46 and a beta of 1.75. The firm’s fifty day moving average price is $55.70 and its 200-day moving average price is $57.89.

SL Green Realty (NYSE:SLG) last released its earnings results on Thursday, October 16th. The real estate investment trust reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.24. SL Green Realty had a negative return on equity of 0.22% and a net margin of 1.75%.The business had revenue of $244.82 million for the quarter, compared to analysts’ expectations of $170.27 million. During the same quarter in the prior year, the firm earned $1.26 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts expect that SL Green Realty will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, November 17th. Stockholders of record on Friday, October 31st were paid a dividend of $0.2575 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend was Friday, October 31st. SL Green Realty’s dividend payout ratio (DPR) is 30,900.00%.

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.