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

SL Green Realty Corp. (NYSE:SLG) has been given an average rating of “Hold” by the sixteen research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $68.38.

Several brokerages recently weighed in on SLG. Barclays raised their target price on SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Compass Point lifted their price objective on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. BMO Capital Markets reissued an “outperform” rating and set a $87.00 target price (up from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. Morgan Stanley lifted their price target on shares of SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group cut their price objective on SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd.

Institutional Trading of SL Green Realty

Institutional investors have recently bought and sold shares of the company. Venturi Wealth Management LLC raised its holdings in SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock valued at $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 during the 3rd quarter valued at about $35,000. Friedenthal Financial bought a new position in shares of SL Green Realty in the 3rd quarter valued at approximately $49,000. Blue Trust Inc. lifted its holdings in SL Green Realty by 363.2% in the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 632 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in SL Green Realty by 17.7% during the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 157 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of NYSE SLG opened at $65.85 on Thursday. SL Green Realty has a 1 year low of $41.81 and a 1 year high of $82.81. The firm has a market cap of $4.34 billion, a P/E ratio of -26.34, a PEG ratio of 5.08 and a beta of 1.82. The stock has a fifty day moving average price of $71.51 and a two-hundred day moving average price of $69.04. 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 Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.2575 dividend. This is an increase from SL Green Realty’s previous monthly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.09 dividend on an annualized basis and a dividend yield of 4.69%. SL Green Realty’s dividend payout ratio is currently -123.60%.

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.