SL Green Realty Corporation (NYSE:SLG) Receives $55.94 Average Target Price from Brokerages

Shares of SL Green Realty Corporation (NYSE:SLG) have been given an average rating of “Hold” by the eighteen research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $55.9444.

Several research firms recently weighed in on SLG. Scotiabank lowered their target price on SL Green Realty from $66.00 to $61.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, January 14th. Jefferies Financial Group raised SL Green Realty from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $57.00 to $63.00 in a research note on Monday, October 13th. Truist Financial set a $47.00 price objective on SL Green Realty and gave the company a “hold” rating in a research note on Monday, December 8th. New Street Research set a $72.00 target price on shares of SL Green Realty in a report on Thursday, October 9th. Finally, UBS Group set a $61.00 price target on shares of SL Green Realty in a report on Wednesday, January 14th.

SL Green Realty Price Performance

Shares of NYSE:SLG opened at $43.59 on Monday. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $3.11 billion, a PE ratio of 4,363.36 and a beta of 1.60. The firm’s 50 day moving average price is $46.01 and its 200-day moving average price is $52.77. SL Green Realty has a twelve month low of $40.26 and a twelve month high of $68.14.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The business had revenue of $159.82 million during the quarter, compared to analysts’ expectations of $162.73 million. SL Green Realty had a net margin of 1.75% and a negative return on equity of 0.22%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.81 earnings per share. Equities research analysts expect that SL Green Realty will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued a $0.2575 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a c) annualized dividend and a yield of 7.1%. SL Green Realty’s dividend payout ratio is currently 30,900.00%.

Insiders Place Their Bets

In other news, insider Andrew S. Levine sold 1,493 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $45.27, for a total value of $67,588.11. Following the completion of the transaction, the insider owned 7,045 shares of the company’s stock, valued at $318,927.15. This represents a 17.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Marc Holliday sold 22,223 shares of SL Green Realty stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $44.40, for a total value of $986,701.20. Following the sale, the chief executive officer directly owned 9,698 shares in the company, valued at $430,591.20. This trade represents a 69.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M&T Bank Corp bought a new stake in shares of SL Green Realty during the fourth quarter valued at approximately $43,201,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of SL Green Realty by 384.4% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 73,171 shares of the real estate investment trust’s stock worth $3,356,000 after acquiring an additional 58,067 shares during the last quarter. Probity Advisors Inc. grew its stake in SL Green Realty by 2.8% during the fourth quarter. Probity Advisors Inc. now owns 10,040 shares of the real estate investment trust’s stock valued at $461,000 after acquiring an additional 269 shares in the last quarter. Vert Asset Management LLC increased its holdings in SL Green Realty by 15.6% in the 4th quarter. Vert Asset Management LLC now owns 36,178 shares of the real estate investment trust’s stock valued at $1,659,000 after acquiring an additional 4,883 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in SL Green Realty by 17.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,531 shares of the real estate investment trust’s stock valued at $3,281,000 after acquiring an additional 10,727 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Company Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.