SL Green Realty’s (SLG) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their overweight rating on shares of SL Green Realty (NYSE:SLG) in a research note published on Monday morning, Benzinga reports. Piper Sandler currently has a $90.00 price target on the real estate investment trust’s stock, up from their prior price target of $75.00.

A number of other equities analysts have also commented on the stock. Barclays raised their price target on shares of SL Green Realty from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Evercore ISI lifted their target price on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a research report on Monday. JPMorgan Chase & Co. raised their price target on shares of SL Green Realty from $44.00 to $51.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Wells Fargo & Company lifted their price objective on shares of SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. Finally, Scotiabank lifted their price target on shares of SL Green Realty from $53.00 to $68.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, SL Green Realty currently has a consensus rating of “Hold” and an average price target of $63.86.

SL Green Realty Trading Down 2.5 %

Shares of NYSE SLG opened at $76.79 on Monday. The company has a current ratio of 2.58, a quick ratio of 2.59 and a debt-to-equity ratio of 1.07. The company has a market cap of $5.00 billion, a PE ratio of -30.72, a P/E/G ratio of 2.18 and a beta of 1.83. The company has a 50-day moving average of $67.89 and a two-hundred day moving average of $59.90. SL Green Realty has a 1-year low of $28.55 and a 1-year high of $79.08.

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

SL Green Realty Announces Dividend

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

Institutional Investors Weigh In On SL Green Realty

Institutional investors have recently modified their holdings of the business. Daiwa Securities Group Inc. boosted its position in shares of SL Green Realty by 479.1% during 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 during the last quarter. Janney Montgomery Scott LLC boosted its position in SL Green Realty by 12.0% in the first quarter. Janney Montgomery Scott LLC now owns 124,978 shares of the real estate investment trust’s stock worth $6,890,000 after purchasing an additional 13,412 shares during the last quarter. UniSuper Management Pty Ltd boosted its position in SL Green Realty by 82.0% in the first quarter. UniSuper Management Pty Ltd now owns 33,229 shares of the real estate investment trust’s stock worth $1,832,000 after purchasing an additional 14,975 shares during the last quarter. Russell Investments Group Ltd. boosted its position in SL Green Realty by 24.7% in the first quarter. Russell Investments Group Ltd. now owns 799,431 shares of the real estate investment trust’s stock worth $44,067,000 after purchasing an additional 158,268 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in SL Green Realty by 18.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 67,923 shares of the real estate investment trust’s stock worth $3,665,000 after purchasing an additional 10,704 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

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.