SL Green Realty Corp. (NYSE:SLG) Receives $65.57 Consensus Price Target from Brokerages

Shares of SL Green Realty Corp. (NYSE:SLG) have earned a consensus rating of “Hold” from the fourteen research firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $65.57.

Several brokerages recently weighed in on SLG. Compass Point set a $65.00 target price on shares of SL Green Realty and gave the company a “neutral” rating in a research note on Friday, October 18th. Barclays boosted their target price on shares of SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Citigroup raised shares of SL Green Realty from a “sell” rating to a “neutral” rating and boosted their target price for the company from $44.00 to $66.00 in a research note on Friday, September 13th. Wells Fargo & Company boosted their target price 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 upped their price objective on shares of SL Green Realty from $68.00 to $80.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th.

SL Green Realty Price Performance

SL Green Realty stock opened at $80.22 on Friday. The firm’s 50-day simple moving average is $70.87 and its 200 day simple moving average is $62.01. SL Green Realty has a 52 week low of $29.26 and a 52 week high of $80.97. The firm has a market capitalization of $5.22 billion, a PE ratio of -32.09, a P/E/G ratio of 2.01 and a beta of 1.82. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06.

SL Green Realty (NYSE:SLG) last announced its 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 firm had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. During the same period in the previous year, the firm posted $1.27 EPS. On average, equities research analysts predict that SL Green Realty will post 7.61 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date is Thursday, October 31st. SL Green Realty’s dividend payout ratio (DPR) is presently -120.00%.

Institutional Trading of SL Green Realty

A number of institutional investors and hedge funds have recently bought and sold shares of SLG. Venturi Wealth Management LLC increased its position in SL Green Realty by 272.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 272 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in SL Green Realty in the 2nd quarter worth approximately $29,000. Friedenthal Financial purchased a new position in SL Green Realty in the 3rd quarter worth approximately $49,000. Fidelis Capital Partners LLC purchased a new position in SL Green Realty in the 1st quarter worth approximately $55,000. Finally, Rothschild Investment LLC purchased a new position in SL Green Realty in the 2nd quarter worth approximately $55,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

About SL Green Realty

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.