SL Green Realty Corp. (NYSE:SLG) Given Average Recommendation of “Reduce” by Analysts

SL Green Realty Corp. (NYSE:SLG) has been given an average recommendation of “Reduce” by the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $52.58.

A number of analysts recently commented on SLG shares. JPMorgan Chase & Co. increased their price objective on SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group raised their target price on SL Green Realty from $38.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Citigroup raised their target price on SL Green Realty from $31.00 to $37.00 and gave the company a “sell” rating in a report on Thursday, June 13th. Evercore ISI raised their target price on SL Green Realty from $47.00 to $49.00 and gave the company an “underperform” rating in a report on Monday, July 1st. Finally, BMO Capital Markets lifted their price objective on SL Green Realty from $58.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th.

SL Green Realty Trading Down 0.1 %

NYSE:SLG opened at $63.67 on Monday. The firm has a market cap of $4.15 billion, a P/E ratio of -7.71, a PEG ratio of 1.99 and a beta of 1.83. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.98. The stock’s 50 day simple moving average is $59.64 and its 200-day simple moving average is $53.58. SL Green Realty has a 12-month low of $28.55 and a 12-month high of $68.92.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. SL Green Realty had a negative return on equity of 3.92% and a negative net margin of 19.31%. The firm had revenue of $222.82 million for the quarter, compared to analyst estimates of $133.83 million. During the same quarter in the prior year, the company posted $1.43 earnings per share. SL Green Realty’s quarterly revenue was down 9.4% on a year-over-year basis. Equities analysts anticipate that SL Green Realty will post 7.58 EPS for the current year.

SL Green Realty Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, July 31st. This represents a $3.00 dividend on an annualized basis and a yield of 4.71%. SL Green Realty’s dividend payout ratio (DPR) is presently -36.32%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new stake in shares of SL Green Realty in the 2nd quarter worth $29,000. Rothschild Investment LLC acquired a new stake in shares of SL Green Realty during the second quarter worth $55,000. Fidelis Capital Partners LLC acquired a new stake in shares of SL Green Realty during the first quarter worth $55,000. GAMMA Investing LLC acquired a new stake in shares of SL Green Realty during the fourth quarter worth $140,000. Finally, Meeder Advisory Services Inc. acquired a new stake in shares of SL Green Realty during the first quarter worth $201,000. Institutional investors and hedge funds 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.