SL Green Realty Corp. (NYSE:SLG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of SL Green Realty Corp. (NYSE:SLG) have been given a consensus recommendation of “Hold” by the fifteen analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $66.00.

Several equities analysts have recently weighed in on SLG shares. JPMorgan Chase & Co. raised their price objective on shares of SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. Evercore ISI lifted their price target on SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Morgan Stanley upped their price objective on shares of SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Scotiabank lifted their target price on shares of SL Green Realty from $68.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Finally, Piper Sandler restated an “overweight” rating and issued a $90.00 price target (up previously from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st.

Institutional Investors Weigh In On SL Green Realty

Institutional investors have recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its holdings in SL Green Realty by 272.0% in the third 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 acquired a new position in shares of SL Green Realty during the 2nd quarter valued at about $29,000. Point72 DIFC Ltd bought a new position in shares of SL Green Realty in the 3rd quarter valued at approximately $35,000. Friedenthal Financial acquired a new stake in SL Green Realty in the 3rd quarter worth approximately $49,000. Finally, Rothschild Investment LLC bought a new stake in SL Green Realty during the second quarter worth approximately $55,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Price Performance

Shares of SLG opened at $78.17 on Wednesday. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of -31.27, a price-to-earnings-growth ratio of 2.10 and a beta of 1.82. The stock’s fifty day moving average is $74.24 and its 200-day moving average is $64.73. SL Green Realty has a one year low of $32.78 and a one year high of $82.81. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results 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 the consensus estimate 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 last year, the firm posted $1.27 earnings per share. Equities analysts anticipate that SL Green Realty will post 7.6 EPS for the current year.

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 3.84%. The ex-dividend date is Friday, November 29th. SL Green Realty’s payout ratio is currently -120.00%.

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.