Jefferies Financial Group Boosts SL Green Realty (NYSE:SLG) Price Target to $72.00

SL Green Realty (NYSE:SLG) had its price objective hoisted by Jefferies Financial Group from $70.00 to $72.00 in a research report released on Friday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the real estate investment trust’s stock.

Other research analysts have also recently issued research reports about the stock. Compass Point set a $65.00 price objective on shares of SL Green Realty and gave the company a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets reaffirmed an “outperform” rating and set a $87.00 price objective (up previously from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. JPMorgan Chase & Co. lifted their target price on SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Evercore ISI upped their price target on SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Finally, Scotiabank raised 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 report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, SL Green Realty presently has an average rating of “Hold” and a consensus price target of $66.00.

SL Green Realty Trading Down 0.8 %

Shares of SL Green Realty stock opened at $78.99 on Friday. SL Green Realty has a twelve month low of $32.78 and a twelve month high of $82.81. The firm’s 50-day moving average price is $74.06 and its 200 day moving average price is $64.55. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $5.21 billion, a PE ratio of -31.60, a P/E/G ratio of 2.10 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last issued 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). The company had revenue of $229.69 million for the quarter, compared to analyst estimates of $136.66 million. SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. During the same quarter in the prior year, the firm earned $1.27 earnings per share. On average, sell-side analysts predict that SL Green Realty will post 7.6 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.00 annualized dividend and a dividend yield of 3.80%. SL Green Realty’s dividend payout ratio (DPR) is currently -120.00%.

Institutional Trading of SL Green Realty

Institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale grew its position in shares of 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 valued at $3,665,000 after purchasing an additional 10,704 shares during the last quarter. Edgestream Partners L.P. increased its holdings in SL Green Realty by 40.1% in the 2nd quarter. Edgestream Partners L.P. now owns 122,880 shares of the real estate investment trust’s stock worth $6,960,000 after purchasing an additional 35,178 shares in the last quarter. Swedbank AB bought a new position in SL Green Realty in the 1st quarter valued at approximately $4,675,000. Waterfall Asset Management LLC acquired a new position in shares of SL Green Realty during the second quarter worth $3,172,000. Finally, Daiwa Securities Group Inc. grew its position in shares of SL Green Realty by 13.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 127,899 shares of the real estate investment trust’s stock valued at $7,244,000 after buying an additional 14,871 shares during the last quarter. 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.