SL Green Realty (NYSE:SLG) PT Raised to $79.00 at Evercore ISI

SL Green Realty (NYSE:SLG) had its price target hoisted by Evercore ISI from $67.00 to $79.00 in a research report released on Monday, Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

Several other research analysts have also weighed in on SLG. Morgan Stanley increased their price objective on SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Bank of America increased their target price on SL Green Realty from $59.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Citigroup raised SL Green Realty from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $44.00 to $66.00 in a report on Friday, September 13th. BMO Capital Markets reissued an “outperform” rating and set a $87.00 price target (up previously from $72.00) on shares of SL Green Realty in a report on Monday. Finally, StockNews.com upgraded SL Green Realty to a “sell” rating in a research report on Friday, July 19th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, SL Green Realty has a consensus rating of “Hold” and an average price target of $63.86.

SL Green Realty Stock Down 2.5 %

Shares of SLG stock opened at $76.79 on Monday. SL Green Realty has a 1-year low of $28.55 and a 1-year high of $79.08. The stock’s fifty day moving average price is $67.89 and its 200 day moving average price is $59.90. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.58 and a quick ratio of 2.59. The company has a market cap of $5.00 billion, a price-to-earnings ratio of -30.72, a price-to-earnings-growth ratio of 2.18 and a beta of 1.83.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($1.42). The company had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. During the same period last year, the firm earned $1.27 EPS. On average, research analysts expect that SL Green Realty will post 7.62 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Monday, September 30th. SL Green Realty’s payout ratio is presently -120.00%.

Institutional Investors Weigh In On SL Green Realty

A number of hedge funds have recently added to or reduced their stakes in SLG. Russell Investments Group Ltd. raised its position in shares of SL Green Realty by 24.7% in the 1st quarter. Russell Investments Group Ltd. now owns 799,431 shares of the real estate investment trust’s stock valued at $44,067,000 after acquiring an additional 158,268 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of SL Green Realty by 479.1% in the first quarter. Daiwa Securities Group Inc. now owns 113,028 shares of the real estate investment trust’s stock valued at $6,231,000 after buying an additional 93,511 shares in the last quarter. Lighthouse Investment Partners LLC boosted its position in SL Green Realty by 150.0% during the second quarter. Lighthouse Investment Partners LLC now owns 150,000 shares of the real estate investment trust’s stock worth $8,496,000 after purchasing an additional 90,000 shares during the period. Dimensional Fund Advisors LP boosted its position in SL Green Realty by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust’s stock worth $56,350,000 after purchasing an additional 88,309 shares during the period. Finally, Swedbank AB acquired a new stake in shares of SL Green Realty during the first quarter worth $4,675,000. 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.