SL Green Realty Corp (NYSE:SLG) Receives $93.85 Average Price Target from Brokerages

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Shares of SL Green Realty Corp (NYSE:SLG) have been given an average recommendation of “Hold” by the sixteen ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $94.46.

Several equities analysts have recently issued reports on the stock. Goldman Sachs Group assumed coverage on shares of SL Green Realty in a research note on Friday, November 8th. They set a “buy” rating and a $96.00 price target for the company. Morgan Stanley dropped their price target on shares of SL Green Realty from $84.50 to $78.00 and set an “underweight” rating for the company in a research note on Tuesday, September 10th. Citigroup dropped their price target on shares of SL Green Realty from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Robert W. Baird set a $92.00 price target on shares of SL Green Realty and gave the company a “hold” rating in a research note on Wednesday, August 21st. Finally, Barclays set a $107.00 price target on shares of SL Green Realty and gave the company a “buy” rating in a research note on Friday, October 11th.

SLG stock opened at $88.70 on Tuesday. The company has a fifty day moving average price of $85.23 and a 200-day moving average price of $82.60. The company has a market capitalization of $7.10 billion, a P/E ratio of 12.92, a PEG ratio of 3.27 and a beta of 1.06. SL Green Realty has a 52-week low of $75.46 and a 52-week high of $93.91. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.65 and a current ratio of 1.65.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($1.33). The business had revenue of $248.03 million for the quarter, compared to the consensus estimate of $243.02 million. SL Green Realty had a net margin of 15.37% and a return on equity of 3.18%. SL Green Realty’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.69 EPS. As a group, sell-side analysts forecast that SL Green Realty will post 6.97 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.885 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from SL Green Realty’s previous quarterly dividend of $0.85. This represents a $3.54 annualized dividend and a dividend yield of 3.99%. SL Green Realty’s dividend payout ratio is 51.36%.

Several institutional investors and hedge funds have recently bought and sold shares of SLG. Nomura Holdings Inc. grew its holdings in SL Green Realty by 294.7% in the third quarter. Nomura Holdings Inc. now owns 48,206 shares of the real estate investment trust’s stock worth $3,797,000 after purchasing an additional 35,992 shares during the period. Man Group plc acquired a new stake in SL Green Realty in the third quarter worth $213,000. Squarepoint Ops LLC grew its holdings in SL Green Realty by 94.5% in the third quarter. Squarepoint Ops LLC now owns 121,601 shares of the real estate investment trust’s stock worth $9,941,000 after purchasing an additional 59,069 shares during the period. Chilton Capital Management LLC grew its holdings in SL Green Realty by 4.2% in the third quarter. Chilton Capital Management LLC now owns 58,776 shares of the real estate investment trust’s stock worth $4,805,000 after purchasing an additional 2,371 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in SL Green Realty by 0.3% in the third quarter. Public Employees Retirement System of Ohio now owns 120,276 shares of the real estate investment trust’s stock worth $9,833,000 after purchasing an additional 360 shares during the period. Institutional investors own 98.89% of the company’s stock.

SL Green Realty Company Profile

SL Green Realty Corp., an S&P 500 company and New York City'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 March 31, 2019, SL Green held interests in 96 Manhattan buildings totaling 46.4 million square feet.

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Analyst Recommendations for SL Green Realty (NYSE:SLG)

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