Analysts Set SL Green Realty Corp. (NYSE:SLG) PT at $40.42

Shares of SL Green Realty Corp. (NYSE:SLG) have been assigned an average rating of “Reduce” from the eleven brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $46.09.

SLG has been the topic of several recent research reports. TheStreet upgraded SL Green Realty from a “d+” rating to a “c-” rating in a research report on Wednesday, January 10th. Barclays upgraded shares of SL Green Realty from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $35.00 to $48.00 in a research note on Wednesday. The Goldman Sachs Group increased their target price on shares of SL Green Realty from $30.00 to $36.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. Piper Sandler reiterated an “overweight” rating and issued a $58.00 price target on shares of SL Green Realty in a research report on Tuesday. Finally, Evercore ISI lowered SL Green Realty from an “in-line” rating to an “underperform” rating and set a $44.00 price objective on the stock. in a research note on Monday, March 18th.

SL Green Realty Price Performance

Shares of NYSE SLG opened at $55.13 on Friday. The business’s 50 day moving average is $48.00 and its 200-day moving average is $41.74. The firm has a market cap of $3.57 billion, a P/E ratio of -6.06, a price-to-earnings-growth ratio of 1.70 and a beta of 1.70. SL Green Realty has a 1-year low of $20.51 and a 1-year high of $55.75. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.93.

SL Green Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.00 annualized dividend and a dividend yield of 5.44%. SL Green Realty’s dividend payout ratio is currently -33.00%.

Insider Activity at SL Green Realty

In other SL Green Realty news, Director Betsy S. Atkins sold 9,894 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $47.25, for a total transaction of $467,491.50. Following the completion of the transaction, 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 SEC, which can be accessed through this hyperlink. In other news, Director Carol N. Brown sold 5,118 shares of SL Green Realty stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $44.37, for a total transaction of $227,085.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Betsy S. Atkins sold 9,894 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $47.25, for a total transaction of $467,491.50. Following the sale, the director now directly owns 6,886 shares in the company, valued at $325,363.50. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

Institutional Trading of SL Green Realty

Several institutional investors have recently modified their holdings of the business. Rosenberg Matthew Hamilton raised its position in shares of SL Green Realty by 9.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock worth $117,000 after acquiring an additional 227 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in SL Green Realty by 6.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,291 shares of the real estate investment trust’s stock worth $194,000 after purchasing an additional 249 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of SL Green Realty by 1.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 13,739 shares of the real estate investment trust’s stock worth $621,000 after purchasing an additional 255 shares during the period. Yousif Capital Management LLC increased its position in shares of SL Green Realty by 0.8% during the first quarter. Yousif Capital Management LLC now owns 37,024 shares of the real estate investment trust’s stock worth $3,006,000 after buying an additional 299 shares during the period. Finally, Arden Trust Co raised its stake in SL Green Realty by 1.5% during the fourth quarter. Arden Trust Co now owns 23,935 shares of the real estate investment trust’s stock worth $1,081,000 after buying an additional 356 shares during 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.