SL Green Realty (NYSE:SLG) Price Target Raised to $62.00

SL Green Realty (NYSE:SLG) had its target price raised by Truist Financial from $61.00 to $62.00 in a report published on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group dropped their price objective on SL Green Realty from $75.00 to $69.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Barclays increased their price target on shares of SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Scotiabank boosted their price objective on shares of SL Green Realty from $80.00 to $81.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. Morgan Stanley increased their target price on shares of SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Finally, Piper Sandler reissued an “overweight” rating and set a $90.00 price target (up previously from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $69.38.

SL Green Realty Stock Down 1.5 %

SLG stock opened at $63.24 on Monday. The stock has a market capitalization of $4.17 billion, a PE ratio of 790.46, a price-to-earnings-growth ratio of 5.53 and a beta of 1.82. The company has a fifty day moving average of $70.28 and a 200-day moving average of $69.40. 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 has a one year low of $41.88 and a one year high of $82.81.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.11%. As a group, analysts expect that SL Green Realty will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be given a dividend of $0.2575 per share. This represents a $3.09 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Friday, January 31st. SL Green Realty’s dividend payout ratio is presently 3,862.50%.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 2,052 shares in the company, valued at approximately $136,047.60. The trade was a 62.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.08% of the stock is owned by insiders.

Institutional Investors Weigh In On SL Green Realty

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp lifted its position in SL Green Realty by 7.7% during the fourth quarter. Van ECK Associates Corp now owns 33,150 shares of the real estate investment trust’s stock worth $2,251,000 after buying an additional 2,362 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of SL Green Realty by 9.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 34,200 shares of the real estate investment trust’s stock valued at $2,323,000 after acquiring an additional 2,900 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of SL Green Realty during the 4th quarter worth about $452,000. Advisors Preferred LLC boosted its position in shares of SL Green Realty by 58.2% in the fourth quarter. Advisors Preferred LLC now owns 54,459 shares of the real estate investment trust’s stock worth $3,724,000 after acquiring an additional 20,037 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in SL Green Realty by 28.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,928 shares of the real estate investment trust’s stock valued at $1,014,000 after purchasing an additional 3,285 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

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.