BMO Capital Markets reiterated their buy rating on shares of SL Green Realty Corporation (NYSE:SLG) in a report published on Tuesday. BMO Capital Markets currently has a $127.00 price objective on the real estate investment trust’s stock.
SLG has been the topic of several other research reports. Goldman Sachs Group, Inc. (The) assumed coverage on shares of SL Green Realty Corporation in a research note on Thursday, June 22nd. They issued a buy rating and a $121.00 target price on the stock. ValuEngine downgraded shares of SL Green Realty Corporation from a buy rating to a hold rating in a research note on Friday, June 2nd. Barclays PLC upped their target price on shares of SL Green Realty Corporation from $110.00 to $111.00 and gave the stock an equal weight rating in a research note on Wednesday, April 19th. Jefferies Group LLC reiterated a hold rating and issued a $113.00 target price on shares of SL Green Realty Corporation in a research note on Thursday, April 20th. Finally, Morgan Stanley downgraded shares of SL Green Realty Corporation from an overweight rating to an equal weight rating and dropped their target price for the stock from $120.00 to $106.00 in a research note on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $115.64.
SL Green Realty Corporation (NYSE SLG) opened at 102.43 on Tuesday. The company has a market cap of $10.42 billion, a PE ratio of 46.29 and a beta of 1.18. SL Green Realty Corporation has a 12 month low of $93.90 and a 12 month high of $120.63. The company has a 50-day moving average of $104.06 and a 200 day moving average of $107.23.
SL Green Realty Corporation (NYSE:SLG) last posted its quarterly earnings data on Wednesday, April 19th. The real estate investment trust reported $1.57 EPS for the quarter, hitting the consensus estimate of $1.57. The business had revenue of $377.40 million for the quarter, compared to analyst estimates of $315.90 million. SL Green Realty Corporation had a net margin of 13.33% and a return on equity of 2.98%. SL Green Realty Corporation’s quarterly revenue was down 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 earnings per share. On average, equities analysts forecast that SL Green Realty Corporation will post $1.62 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be given a dividend of $0.775 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $3.10 dividend on an annualized basis and a yield of 3.03%. SL Green Realty Corporation’s dividend payout ratio (DPR) is 139.64%.
In related news, Director John H. Alschuler, Jr. sold 6,000 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $106.74, for a total transaction of $640,440.00. Following the transaction, the director now owns 7,196 shares in the company, valued at $768,101.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.09% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of SL Green Realty Corporation by 2,588.7% in the first quarter. BlackRock Inc. now owns 9,337,213 shares of the real estate investment trust’s stock worth $995,533,000 after buying an additional 8,989,935 shares during the period. Brookfield Asset Management Inc. purchased a new stake in shares of SL Green Realty Corporation during the first quarter worth about $128,189,000. Prudential Financial Inc. boosted its stake in shares of SL Green Realty Corporation by 212.6% in the first quarter. Prudential Financial Inc. now owns 726,323 shares of the real estate investment trust’s stock worth $77,440,000 after buying an additional 493,972 shares during the period. Vanguard Group Inc. boosted its stake in shares of SL Green Realty Corporation by 2.1% in the first quarter. Vanguard Group Inc. now owns 17,792,497 shares of the real estate investment trust’s stock worth $1,897,036,000 after buying an additional 362,749 shares during the period. Finally, Boston Partners boosted its stake in shares of SL Green Realty Corporation by 12.8% in the first quarter. Boston Partners now owns 3,011,625 shares of the real estate investment trust’s stock worth $321,099,000 after buying an additional 340,926 shares during the period.
About SL Green Realty Corporation
SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.
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