SL Green Realty Corporation (NYSE:SLG) Receives $51.20 Average Price Target from Analysts

SL Green Realty Corporation (NYSE:SLG) has received an average rating of “Hold” from the nineteen brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $50.70.

Several research analysts have recently commented on SLG shares. JPMorgan Chase & Co. raised their price target on SL Green Realty from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Citigroup lowered their price target on SL Green Realty from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, March 24th. Evercore restated an “outperform” rating and set a $46.00 price target on shares of SL Green Realty in a research report on Friday, April 17th. Mizuho set a $38.00 price objective on SL Green Realty and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Finally, Truist Financial increased their price objective on SL Green Realty from $44.00 to $46.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd.

SL Green Realty Trading Up 5.6%

SLG opened at $47.02 on Friday. SL Green Realty has a 52 week low of $34.77 and a 52 week high of $66.91. The business has a fifty day simple moving average of $41.68 and a 200-day simple moving average of $42.70. The firm has a market cap of $3.36 billion, a P/E ratio of -18.73 and a beta of 1.61. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 1.18.

SL Green Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.6175 dividend. This represents a $2.47 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Tuesday, March 31st. SL Green Realty’s dividend payout ratio (DPR) 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 SLG. Triumph Capital Management purchased a new stake in SL Green Realty in the 3rd quarter valued at $45,000. Cornerstone Planning Group LLC increased its position in SL Green Realty by 12,114.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 855 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 848 shares during the period. State of Wyoming acquired a new position in SL Green Realty in the 3rd quarter valued at about $68,000. Hantz Financial Services Inc. increased its position in SL Green Realty by 252.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,235 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 885 shares during the period. Finally, Davis Capital Management acquired a new position in SL Green Realty in the 1st quarter valued at about $46,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.