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

Shares of SL Green Realty Corp. (NYSE:SLG) have been assigned an average rating of “Hold” from the thirteen research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $59.64.

A number of analysts recently issued reports on SLG shares. Barclays boosted their price target on SL Green Realty from $49.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group increased their price target on SL Green Realty from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Bank of America upped their price objective on shares of SL Green Realty from $59.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Scotiabank raised their target price on shares of SL Green Realty from $53.00 to $68.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 7th. Finally, Truist Financial upped their price target on shares of SL Green Realty from $47.00 to $55.00 and gave the stock a “hold” rating in a research report on Friday, July 19th.

Hedge Funds Weigh In On SL Green Realty

Several hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in SL Green Realty during the 2nd quarter valued at approximately $29,000. Fidelis Capital Partners LLC purchased a new position in SL Green Realty in the 1st quarter worth $55,000. Rothschild Investment LLC acquired a new stake in SL Green Realty during the 2nd quarter worth about $55,000. GAMMA Investing LLC increased its holdings in shares of SL Green Realty by 6.3% in the first quarter. GAMMA Investing LLC now owns 3,305 shares of the real estate investment trust’s stock valued at $182,000 after purchasing an additional 196 shares during the period. Finally, Meeder Advisory Services Inc. purchased a new position in shares of SL Green Realty in the first quarter worth about $201,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of SL Green Realty stock opened at $72.21 on Friday. SL Green Realty has a 52 week low of $28.55 and a 52 week high of $73.80. The company has a market capitalization of $4.70 billion, a PE ratio of -8.74, a price-to-earnings-growth ratio of 2.22 and a beta of 1.83. The stock’s fifty day moving average is $64.56 and its two-hundred day moving average is $56.93. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.98.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.09. The company had revenue of $222.82 million for the quarter, compared to the consensus estimate of $133.83 million. SL Green Realty had a negative net margin of 19.31% and a negative return on equity of 3.92%. The firm’s revenue was down 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.43 EPS. As a group, analysts expect that SL Green Realty will post 7.58 earnings per share for the current year.

SL Green Realty Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Friday, August 30th. SL Green Realty’s dividend payout ratio (DPR) is presently -36.32%.

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.