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

SL Green Realty (NYSE:SLG) had its target price boosted by Jefferies Financial Group from $70.00 to $72.00 in a report published on Friday,Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

A number of other analysts have also recently issued reports on the company. Bank of America lifted their price objective on SL Green Realty from $59.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Barclays lifted their price target on SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Citigroup upgraded SL Green Realty from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $44.00 to $66.00 in a report on Friday, September 13th. Scotiabank lifted their target price 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. Finally, BMO Capital Markets restated an “outperform” rating and set a $87.00 price target (up previously from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $66.00.

SL Green Realty Trading Up 0.6 %

Shares of NYSE SLG opened at $79.63 on Friday. The firm has a market capitalization of $5.25 billion, a PE ratio of -31.85, a PEG ratio of 2.09 and a beta of 1.82. SL Green Realty has a one year low of $32.78 and a one year high of $82.81. 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 business has a 50-day moving average price of $73.89 and a two-hundred day moving average price of $64.27.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). The company had revenue of $229.69 million for the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $1.27 earnings per share. As a group, analysts predict that SL Green Realty will post 7.61 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.00 annualized dividend and a dividend yield of 3.77%. SL Green Realty’s dividend payout ratio is -120.00%.

Institutional Trading of SL Green Realty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in SL Green Realty by 0.6% during the first quarter. Vanguard Group Inc. now owns 10,384,977 shares of the real estate investment trust’s stock worth $572,524,000 after buying an additional 60,032 shares in the last quarter. Axxcess Wealth Management LLC acquired a new stake in shares of SL Green Realty during the 1st quarter worth approximately $342,000. Morse Asset Management Inc bought a new stake in shares of SL Green Realty during the first quarter valued at approximately $1,148,000. Tandem Capital Management Corp ADV raised its stake in shares of SL Green Realty by 30.9% in the first quarter. Tandem Capital Management Corp ADV now owns 54,905 shares of the real estate investment trust’s stock valued at $3,027,000 after purchasing an additional 12,955 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in SL Green Realty in the first quarter worth $237,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.