SL Green Realty (NYSE:SLG – Free Report) had its price objective lowered by Bank of America from $80.00 to $73.00 in a research report report published on Monday morning,Benzinga reports. Bank of America currently has a neutral rating on the real estate investment trust’s stock.
Several other research analysts have also commented on the company. Compass Point raised their price objective on SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. raised SL Green Realty from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $51.00 to $80.00 in a research report on Tuesday, December 10th. Evercore ISI increased their price objective on shares of SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Truist Financial boosted their target price on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $90.00 price target (up from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, SL Green Realty presently has an average rating of “Hold” and an average target price of $69.50.
Check Out Our Latest Stock Report on SLG
SL Green Realty Stock Up 2.1 %
SL Green Realty (NYSE:SLG – Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.11%. Equities analysts forecast that SL Green Realty will post 5.43 earnings per share for the current year.
SL Green Realty Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be paid a dividend of $0.2575 per share. The ex-dividend date is Friday, January 31st. This represents a $3.09 dividend on an annualized basis and a yield of 4.59%. SL Green Realty’s payout ratio is currently 3,862.50%.
Insider Buying and Selling
In related news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of the transaction, the director now owns 2,052 shares in the company, valued at $136,047.60. This represents a 62.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.08% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Venturi Wealth Management LLC raised its stake in shares of SL Green Realty by 272.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 272 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of SL Green Realty in the third quarter worth about $35,000. Friedenthal Financial acquired a new stake in shares of SL Green Realty during the third quarter valued at approximately $49,000. Blue Trust Inc. raised its holdings in shares of SL Green Realty by 363.2% during the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 632 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of SL Green Realty by 17.7% in the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 157 shares in the last quarter. 89.96% of the stock is currently owned by 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.
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