SL Green Realty Corp. (NYSE:SLG) Receives $70.67 Average Price Target from Brokerages

by · The Cerbat Gem

Shares of SL Green Realty Corp. (NYSE:SLG – Get Free Report) have received a consensus rating of “Hold” from the fifteen research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $70.67.

SLG has been the subject of a number of recent research reports. Compass Point boosted their target price on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Truist Financial boosted their target price on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, January 27th. Scotiabank reduced their target price on shares of SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Mizuho boosted their target price on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. upgraded shares of SL Green Realty from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $51.00 to $80.00 in a report on Tuesday, December 10th.

View Our Latest Analysis on SL Green Realty

Insider Activity at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the sale, the director now owns 2,052 shares in the company, valued at $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.08% of the stock is owned by insiders.

Institutional Investors Weigh In On SL Green Realty

A number of large investors have recently bought and sold shares of SLG. Vanguard Group Inc. boosted its position in SL Green Realty by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust’s stock worth $735,594,000 after purchasing an additional 564,822 shares in the last quarter. Wellington Management Group LLP boosted its position in SL Green Realty by 50.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock worth $202,777,000 after purchasing an additional 977,321 shares in the last quarter. Geode Capital Management LLC boosted its position in SL Green Realty by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 1,751,709 shares of the real estate investment trust’s stock worth $119,001,000 after purchasing an additional 110,594 shares in the last quarter. Nuveen Asset Management LLC boosted its position in SL Green Realty by 3.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,636,907 shares of the real estate investment trust’s stock worth $111,179,000 after purchasing an additional 46,988 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its position in SL Green Realty by 30.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,493,208 shares of the real estate investment trust’s stock worth $101,419,000 after purchasing an additional 347,608 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

SLG stock opened at $57.59 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. The business has a 50-day moving average price of $64.68 and a 200 day moving average price of $69.57. The company has a market capitalization of $4.11 billion, a P/E ratio of 719.91, a PEG ratio of 5.30 and a beta of 1.82. SL Green Realty has a 1-year low of $47.22 and a 1-year high of $82.81.

SL Green Realty (NYSE:SLG – Get Free Report) last announced its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. As a group, equities research analysts forecast that SL Green Realty will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $0.2575 dividend. The ex-dividend date is Friday, February 28th. This represents a $3.09 dividend on an annualized basis and a yield of 5.37%. SL Green Realty’s dividend payout ratio is currently 3,862.50%.

About SL Green Realty

(Get Free Report

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.

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