SL Green Realty (SLG) Upgraded to “Hold” by ValuEngine
ValuEngine upgraded shares of SL Green Realty (NYSE:SLG) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
Several other equities analysts have also recently weighed in on SLG. SunTrust Banks upgraded SL Green Realty from a hold rating to a buy rating and set a $86.79 price target for the company in a research report on Tuesday, January 15th. Stifel Nicolaus reiterated a buy rating and issued a $90.00 price target on shares of SL Green Realty in a research report on Monday, January 7th. KeyCorp set a $100.00 price target on SL Green Realty and gave the company a buy rating in a research report on Thursday, December 20th. Deutsche Bank upgraded SL Green Realty from a hold rating to a buy rating and lifted their price target for the company from $114.00 to $118.00 in a research report on Monday, December 10th. Finally, Wells Fargo & Co set a $94.00 price target on SL Green Realty and gave the company a market perform rating in a research report on Wednesday, January 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $100.95.
Shares of SLG traded down $1.22 during mid-day trading on Friday, hitting $89.72. The stock had a trading volume of 380,225 shares, compared to its average volume of 448,175. The firm has a market cap of $7.57 billion, a PE ratio of 13.55, a PEG ratio of 2.87 and a beta of 1.31. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.05 and a quick ratio of 2.05. SL Green Realty has a 52 week low of $76.77 and a 52 week high of $106.54.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Thursday, March 28th. SL Green Realty’s payout ratio is 51.36%.
In other news, CFO Matthew J. Diliberto sold 2,084 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $91.66, for a total value of $191,019.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Craig M. Hatkoff sold 2,500 shares of the company’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $92.24, for a total value of $230,600.00. Following the completion of the transaction, the director now owns 2,352 shares of the company’s stock, valued at $216,948.48. The disclosure for this sale can be found here. 3.65% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of SL Green Realty by 6.0% in the 4th quarter. BlackRock Inc. now owns 9,130,834 shares of the real estate investment trust’s stock worth $722,065,000 after purchasing an additional 516,276 shares in the last quarter. Boston Partners lifted its stake in shares of SL Green Realty by 13.5% in the 4th quarter. Boston Partners now owns 6,317,316 shares of the real estate investment trust’s stock valued at $499,574,000 after acquiring an additional 749,249 shares during the last quarter. FMR LLC lifted its stake in shares of SL Green Realty by 12.0% in the 3rd quarter. FMR LLC now owns 5,189,470 shares of the real estate investment trust’s stock valued at $506,128,000 after acquiring an additional 554,789 shares during the last quarter. Morgan Stanley lifted its stake in shares of SL Green Realty by 0.6% in the 3rd quarter. Morgan Stanley now owns 4,328,380 shares of the real estate investment trust’s stock valued at $422,147,000 after acquiring an additional 27,430 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of SL Green Realty by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 1,332,281 shares of the real estate investment trust’s stock valued at $105,202,000 after acquiring an additional 78,771 shares during the last quarter. Hedge funds and other institutional investors own 97.58% of the company’s stock.
About SL Green Realty
SL Green Realty Corp., an S&P 500 company and New York City'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 December 31, 2018, SL Green held interests in 101 Manhattan buildings totaling 46.0 million square feet.
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