SL Green Realty (NYSE:SLG) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of SL Green Realty (NYSE:SLG) to a sell rating in a research note published on Wednesday morning.

Other analysts also recently issued reports about the stock. Morgan Stanley lifted their price objective on shares of SL Green Realty from $41.00 to $47.00 and gave the company an equal weight rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. boosted their price objective on SL Green Realty from $43.00 to $44.00 and gave the stock an underweight rating in a research report on Thursday, April 25th. Scotiabank raised their target price on SL Green Realty from $40.00 to $43.00 and gave the company a sector underperform rating in a research report on Tuesday, April 2nd. Evercore ISI boosted their price target on SL Green Realty from $46.00 to $47.00 and gave the stock an underperform rating in a research report on Monday, April 22nd. Finally, The Goldman Sachs Group increased their price target 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. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, SL Green Realty currently has a consensus rating of Hold and an average price target of $47.00.

SL Green Realty Stock Performance

SLG stock opened at $50.93 on Wednesday. SL Green Realty has a 1 year low of $20.51 and a 1 year high of $55.75. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of -6.17, a PEG ratio of 1.39 and a beta of 1.72. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.23 and a current ratio of 2.96. The stock’s fifty day moving average is $51.32 and its two-hundred day moving average is $44.76.

SL Green Realty Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $3.00 annualized dividend and a dividend yield of 5.89%. SL Green Realty’s dividend payout ratio (DPR) is -36.32%.

Insider Buying and Selling

In other news, Director Carol N. Brown sold 5,118 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $44.37, for a total transaction of $227,085.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.08% of the company’s stock.

Institutional Trading of SL Green Realty

Hedge funds have recently bought and sold shares of the company. Phocas Financial Corp. acquired a new stake in shares of SL Green Realty during the fourth quarter valued at approximately $3,425,000. Wellington Management Group LLP purchased a new position in SL Green Realty during the 3rd quarter worth approximately $38,666,000. Cyndeo Wealth Partners LLC acquired a new stake in SL Green Realty during the 4th quarter valued at $4,593,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of SL Green Realty in the fourth quarter valued at $491,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of SL Green Realty by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 994,094 shares of the real estate investment trust’s stock worth $37,080,000 after buying an additional 26,465 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

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.