Brokerages Set SL Green Realty Corp. (NYSE:SLG) Target Price at $71.07

Shares of SL Green Realty Corp. (NYSE:SLG) have been assigned a consensus rating of “Hold” from the fifteen ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $71.07.

Several research firms recently weighed in on SLG. Bank of America decreased their target price on shares of SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Piper Sandler reissued an “overweight” rating and issued a $90.00 target price (up from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Truist Financial raised their target price on shares of SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, January 27th. Compass Point raised their target price on shares of SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Finally, Mizuho lifted their price objective on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th.

Insider Activity 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 dated Friday, January 24th. The stock was sold at an average price of $66.30, for a total transaction of $229,066.50. Following the completion of the transaction, the director now owns 2,052 shares of the company’s stock, valued at approximately $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.08% of the stock is owned by insiders.

Institutional Trading of SL Green Realty

Several hedge funds and other institutional investors have recently made changes to their positions in SLG. AQR Capital Management LLC grew its holdings in shares of SL Green Realty by 5.4% during the second quarter. AQR Capital Management LLC now owns 11,062 shares of the real estate investment trust’s stock worth $621,000 after purchasing an additional 569 shares during the last quarter. Cetera Investment Advisers raised its position in shares of SL Green Realty by 204.4% during the second quarter. Cetera Investment Advisers now owns 16,959 shares of the real estate investment trust’s stock worth $961,000 after purchasing an additional 11,387 shares during the period. Vert Asset Management LLC raised its position in SL Green Realty by 1.5% in the 3rd quarter. Vert Asset Management LLC now owns 26,909 shares of the real estate investment trust’s stock valued at $1,873,000 after buying an additional 394 shares during the last quarter. Blue Trust Inc. raised its position in SL Green Realty by 363.2% in the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 632 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in shares of SL Green Realty during the 3rd quarter valued at $49,000. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Price Performance

NYSE SLG opened at $64.61 on Monday. The company has a quick ratio of 2.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.90. SL Green Realty has a 12-month low of $43.69 and a 12-month high of $82.81. The company has a market capitalization of $4.26 billion, a PE ratio of 807.56, a price-to-earnings-growth ratio of 5.49 and a beta of 1.82. The firm’s 50 day moving average is $67.44 and its 200-day moving average is $69.55.

SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, beating 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 0.10%. Equities research analysts anticipate that SL Green Realty will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be paid a $0.2575 dividend. This represents a $3.09 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date of this dividend is Friday, January 31st. SL Green Realty’s dividend payout ratio (DPR) is presently 3,862.50%.

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.