SL Green Realty Corporation (NYSE:SLG) Receives $51.20 Consensus PT from Analysts

Shares of SL Green Realty Corporation (NYSE:SLG) have been assigned a consensus rating of “Hold” from the nineteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $50.70.

A number of equities analysts recently issued reports on the stock. Truist Financial increased their target price on shares of SL Green Realty from $44.00 to $46.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. Weiss Ratings upgraded shares of SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Piper Sandler decreased their target price on shares of SL Green Realty from $60.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Barclays decreased their target price on shares of SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Finally, Evercore reiterated an “outperform” rating and issued a $46.00 target price on shares of SL Green Realty in a research report on Friday, April 17th.

Hedge Funds Weigh In On SL Green Realty

Institutional investors and hedge funds have recently bought and sold shares of the stock. Triumph Capital Management bought a new position in SL Green Realty in the 3rd quarter valued at about $45,000. Davis Capital Management acquired a new stake in SL Green Realty in the 1st quarter valued at about $46,000. Cornerstone Planning Group LLC lifted its holdings in SL Green Realty by 12,114.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 855 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 848 shares during the last quarter. State of Wyoming acquired a new stake in SL Green Realty in the 3rd quarter valued at about $68,000. Finally, Fourth Dimension Wealth LLC lifted its holdings in SL Green Realty by 45.5% in the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Up 1.8%

SLG stock opened at $47.97 on Friday. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 1.18. SL Green Realty has a fifty-two week low of $34.77 and a fifty-two week high of $66.91. The firm’s 50-day simple moving average is $41.90 and its 200 day simple moving average is $42.74. The stock has a market cap of $3.43 billion, a PE ratio of -19.11 and a beta of 1.61.

SL Green Realty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date was Tuesday, March 31st. SL Green Realty’s dividend payout ratio is currently -98.41%.

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.