Brokerages Set SL Green Realty Corp (NYSE:SLG) PT at $94.07

Shares of SL Green Realty Corp (NYSE:SLG) have been given a consensus rating of “Hold” by the fifteen analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $94.07.

Several research firms have recently commented on SLG. Bank of America raised SL Green Realty from a “neutral” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Wednesday, December 11th. Deutsche Bank reduced their price target on SL Green Realty from $106.00 to $96.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Goldman Sachs Group began coverage on SL Green Realty in a research report on Friday, November 8th. They issued a “buy” rating and a $96.00 price target for the company. ValuEngine raised SL Green Realty from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Zacks Investment Research raised SL Green Realty from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Wednesday, September 11th.

Shares of SLG stock opened at $89.95 on Friday. SL Green Realty has a twelve month low of $75.46 and a twelve month high of $93.91. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 3.24 and a beta of 1.09. The stock has a fifty day simple moving average of $88.32 and a two-hundred day simple moving average of $83.01. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.99.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($1.33). The firm had revenue of $248.03 million during the quarter, compared to analysts’ expectations of $243.02 million. SL Green Realty had a return on equity of 3.18% and a net margin of 15.37%. SL Green Realty’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.69 earnings per share. Research analysts predict that SL Green Realty will post 6.97 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.885 per share. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.85. This represents a $3.54 annualized dividend and a yield of 3.94%. The ex-dividend date is Tuesday, December 31st. SL Green Realty’s dividend payout ratio is currently 53.47%.

A number of large investors have recently made changes to their positions in SLG. Marshall Wace North America L.P. acquired a new position in shares of SL Green Realty in the first quarter valued at about $72,000. Wells Fargo & Company MN increased its holdings in shares of SL Green Realty by 14.5% in the second quarter. Wells Fargo & Company MN now owns 202,660 shares of the real estate investment trust’s stock valued at $16,288,000 after purchasing an additional 25,736 shares during the period. Janus Henderson Group PLC increased its holdings in shares of SL Green Realty by 65.5% in the second quarter. Janus Henderson Group PLC now owns 43,849 shares of the real estate investment trust’s stock valued at $3,520,000 after purchasing an additional 17,361 shares during the period. Schroder Investment Management Group acquired a new position in shares of SL Green Realty in the second quarter valued at about $647,000. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in shares of SL Green Realty by 2.1% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 14,454 shares of the real estate investment trust’s stock valued at $1,162,000 after purchasing an additional 300 shares during the period. 98.89% of the stock is currently owned by institutional investors.

About SL Green Realty

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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