SL Green Realty Corp. (NYSE:SLG) Receives $45.83 Consensus PT from Analysts

SL Green Realty Corp. (NYSE:SLG) has been assigned an average recommendation of “Reduce” from the twelve ratings firms that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $47.00.

Several brokerages have recently commented on SLG. Truist Financial lowered SL Green Realty from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $44.00 to $47.00 in a report on Tuesday, January 16th. TheStreet upgraded SL Green Realty from a “d+” rating to a “c-” rating in a research report on Wednesday, January 10th. StockNews.com upgraded SL Green Realty to a “sell” rating in a report on Saturday, February 3rd. Scotiabank raised their price objective on SL Green Realty from $40.00 to $43.00 and gave the company a “sector underperform” rating in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group upped their target price on SL Green Realty from $30.00 to $36.00 and gave the stock a “sell” rating in a research note on Thursday, January 11th.

Insiders Place Their Bets

In related news, Director Betsy S. Atkins sold 9,894 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $47.25, for a total value of $467,491.50. Following the completion of the sale, the director now owns 6,886 shares of the company’s stock, valued at $325,363.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Carol N. Brown sold 5,118 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $44.37, for a total value of $227,085.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Betsy S. Atkins sold 9,894 shares of SL Green Realty stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $47.25, for a total value of $467,491.50. Following the sale, the director now owns 6,886 shares in the company, valued at $325,363.50. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On SL Green Realty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Trust Co. NA purchased a new position in SL Green Realty during the 4th quarter valued at about $33,000. Financial Gravity Asset Management Inc. grew its stake in shares of SL Green Realty by 3,073.3% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 922 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in SL Green Realty by 92.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,553 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 747 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in SL Green Realty during the third quarter valued at $88,000. Finally, Advisory Services Network LLC bought a new stake in SL Green Realty in the fourth quarter worth $95,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Price Performance

NYSE:SLG opened at $48.53 on Tuesday. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of -5.34, a P/E/G ratio of 1.62 and a beta of 1.71. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.23 and a current ratio of 2.23. The stock has a fifty day moving average of $49.83 and a 200 day moving average of $43.08. SL Green Realty has a 52-week low of $20.51 and a 52-week high of $55.75.

SL Green Realty Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.00 dividend on an annualized basis and a yield of 6.18%. SL Green Realty’s dividend payout ratio is presently -33.00%.

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.