SL Green Realty (NYSE:SLG) Price Target Raised to $62.00 at Truist Financial

SL Green Realty (NYSE:SLG) had its target price upped by Truist Financial from $61.00 to $62.00 in a research note issued to investors on Monday,Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently weighed in on SLG. Barclays upped their price target on shares of SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. BMO Capital Markets reissued an “outperform” rating and set a $87.00 target price (up from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $51.00 to $80.00 in a report on Tuesday, December 10th. Piper Sandler restated an “overweight” rating and issued a $90.00 target price (up from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Finally, Scotiabank upped their price target on shares of SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $69.50.

SL Green Realty Trading Up 2.1 %

SL Green Realty stock opened at $67.38 on Monday. SL Green Realty has a 12-month low of $41.88 and a 12-month high of $82.81. The stock has a market capitalization of $4.44 billion, a PE ratio of 842.24, a price-to-earnings-growth ratio of 5.53 and a beta of 1.82. The firm has a 50 day simple moving average of $70.73 and a 200-day simple moving average of $69.33. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.11% and a net margin of 2.48%. As a group, equities research analysts expect that SL Green Realty will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be issued a $0.2575 dividend. This represents a $3.09 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend is Friday, January 31st. SL Green Realty’s dividend payout ratio is presently 3,862.50%.

Insiders Place Their Bets

In related news, Director Craig M. Hatkoff sold 3,455 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of the sale, the director now directly owns 2,052 shares in the company, valued at approximately $136,047.60. The trade was a 62.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.08% of the company’s stock.

Hedge Funds Weigh In On SL Green Realty

Large investors have recently made changes to their positions in the business. FMR LLC grew its position in SL Green Realty by 69.1% in the 3rd quarter. FMR LLC now owns 58,185 shares of the real estate investment trust’s stock worth $4,050,000 after purchasing an additional 23,780 shares during the last quarter. Weiss Asset Management LP acquired a new stake in SL Green Realty during the third quarter worth about $771,000. Citigroup Inc. increased its stake in SL Green Realty by 54.6% during the third quarter. Citigroup Inc. now owns 85,587 shares of the real estate investment trust’s stock valued at $5,958,000 after acquiring an additional 30,220 shares during the period. Kestra Investment Management LLC acquired a new position in SL Green Realty in the 3rd quarter valued at approximately $876,000. Finally, Franklin Resources Inc. bought a new stake in shares of SL Green Realty in the 3rd quarter worth approximately $621,000. 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.