Analysts Set SL Green Realty Corp. (NYSE:SLG) Price Target at $68.38

Shares of SL Green Realty Corp. (NYSE:SLG) have earned an average recommendation of “Hold” from the sixteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $68.38.

A number of research analysts have commented on the stock. Evercore ISI increased their price target on shares of SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Morgan Stanley increased their price target on shares of SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an “underweight” rating to a “neutral” rating and increased their price target for the company from $51.00 to $80.00 in a research report on Tuesday, December 10th. Scotiabank increased their price target on shares of SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. Finally, Mizuho raised 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.

SL Green Realty Trading Up 0.2 %

Shares of SLG opened at $67.29 on Thursday. The firm’s 50 day simple moving average is $71.31 and its 200 day simple moving average is $69.13. The company has a market capitalization of $4.44 billion, a P/E ratio of -26.92, a P/E/G ratio of 5.41 and a beta of 1.82. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. SL Green Realty has a 1-year low of $41.88 and a 1-year high of $82.81.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. Sell-side analysts forecast that SL Green Realty will post 7.78 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be issued a $0.2575 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.09 annualized dividend and a yield of 4.59%. SL Green Realty’s payout ratio is -123.60%.

Institutional Investors Weigh In On SL Green Realty

Several large investors have recently bought and sold shares of SLG. Venturi Wealth Management LLC increased its holdings in SL Green Realty by 272.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 272 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of SL Green Realty during the 3rd quarter valued at about $35,000. Friedenthal Financial bought a new stake in shares of SL Green Realty during the 3rd quarter valued at about $49,000. Blue Trust Inc. grew its stake in shares of SL Green Realty by 363.2% during the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 632 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of SL Green Realty by 17.7% during the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 157 shares during the period. 89.96% of the stock is currently owned by institutional investors.

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.