SL Green Realty (NYSE:SLG) Given New $49.00 Price Target at Evercore ISI

SL Green Realty (NYSE:SLG) had its target price hoisted by Evercore ISI from $47.00 to $49.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has an underperform rating on the real estate investment trust’s stock.

SLG has been the subject of several other research reports. StockNews.com upgraded shares of SL Green Realty to a sell rating in a research note on Wednesday, May 8th. Barclays upgraded shares of SL Green Realty from an underweight rating to an equal weight rating and upped their price objective for the company from $35.00 to $48.00 in a research note on Wednesday, March 27th. Piper Sandler reiterated an overweight rating and set a $58.00 target price on shares of SL Green Realty in a research note on Tuesday, March 26th. Morgan Stanley increased their target price on shares of SL Green Realty from $41.00 to $47.00 and gave the stock an equal weight rating in a research note on Thursday, March 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of SL Green Realty from $43.00 to $44.00 and gave the stock an underweight rating in a research note on Thursday, April 25th. Seven equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $44.62.

SL Green Realty Stock Performance

NYSE:SLG opened at $54.99 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.96. SL Green Realty has a 12 month low of $28.55 and a 12 month high of $58.54. The firm has a market capitalization of $3.62 billion, a PE ratio of -6.66, a price-to-earnings-growth ratio of 1.05 and a beta of 1.83. The business’s fifty day moving average price is $53.23 and its 200 day moving average price is $49.81.

SL Green Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.25 dividend. This represents a $3.00 annualized dividend and a dividend yield of 5.46%. The ex-dividend date is Friday, June 28th. SL Green Realty’s payout ratio is presently -36.32%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SLG. PNC Financial Services Group Inc. increased its stake in SL Green Realty by 11.8% in the third quarter. PNC Financial Services Group Inc. now owns 7,092 shares of the real estate investment trust’s stock valued at $265,000 after purchasing an additional 749 shares in the last quarter. Mariner LLC lifted its stake in shares of SL Green Realty by 11.9% during the 3rd quarter. Mariner LLC now owns 13,322 shares of the real estate investment trust’s stock worth $497,000 after buying an additional 1,415 shares during the last quarter. Natixis Advisors L.P. lifted its stake in shares of SL Green Realty by 40.6% during the 3rd quarter. Natixis Advisors L.P. now owns 16,883 shares of the real estate investment trust’s stock worth $630,000 after buying an additional 4,873 shares during the last quarter. Gotham Asset Management LLC increased its position in SL Green Realty by 3.6% during the third quarter. Gotham Asset Management LLC now owns 10,526 shares of the real estate investment trust’s stock worth $393,000 after acquiring an additional 362 shares during the period. Finally, Lazard Asset Management LLC increased its position in SL Green Realty by 47.6% during the third quarter. Lazard Asset Management LLC now owns 17,500 shares of the real estate investment trust’s stock worth $652,000 after acquiring an additional 5,644 shares during the period. Institutional investors own 89.96% of the company’s stock.

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.