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

Shares of SL Green Realty Corp. (NYSE:SLG) have earned an average recommendation of “Hold” from the sixteen ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $68.38.

A number of equities analysts have commented on SLG shares. Piper Sandler reiterated an “overweight” rating and issued a $90.00 price objective (up previously from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Mizuho increased their price target on SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Morgan Stanley lifted their price objective on SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and increased their target price for the company from $51.00 to $80.00 in a research note on Tuesday, December 10th. Finally, Barclays lifted their price target on shares of SL Green Realty from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd.

SL Green Realty Trading Up 0.8 %

SLG opened at $65.85 on Thursday. The firm’s 50 day moving average is $71.51 and its 200-day moving average is $69.04. SL Green Realty has a 52-week low of $41.81 and a 52-week high of $82.81. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $4.34 billion, a P/E ratio of -26.34, a P/E/G ratio of 5.08 and a beta of 1.82.

SL Green Realty Increases Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, January 15th. Investors 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 was Tuesday, December 31st. This represents a $3.09 annualized dividend and a dividend yield of 4.69%. SL Green Realty’s dividend payout ratio (DPR) is -123.60%.

Hedge Funds Weigh In On SL Green Realty

Several institutional investors have recently modified their holdings of SLG. Janney Montgomery Scott LLC boosted its position in shares of SL Green Realty by 23.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 65,933 shares of the real estate investment trust’s stock worth $4,478,000 after buying an additional 12,424 shares during the period. HB Wealth Management LLC acquired a new position in SL Green Realty during the 4th quarter worth $304,000. Green Alpha Advisors LLC grew its stake in shares of SL Green Realty by 2.1% in the fourth quarter. Green Alpha Advisors LLC now owns 45,111 shares of the real estate investment trust’s stock worth $3,064,000 after purchasing an additional 913 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of SL Green Realty by 5.1% during the fourth quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust’s stock valued at $285,000 after purchasing an additional 203 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of 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 valued at $71,000 after purchasing an additional 157 shares in the last quarter. 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.