SL Green Realty (NYSE:SLG) Price Target Raised to $49.00 at Evercore ISI

SL Green Realty (NYSE:SLG) had its price target lifted by Evercore ISI from $47.00 to $49.00 in a research report released on Monday, Benzinga reports. The brokerage currently has an underperform rating on the real estate investment trust’s stock.

Several other equities analysts also recently commented on SLG. Scotiabank upped their price objective on SL Green Realty from $40.00 to $43.00 and gave the company a sector underperform rating in a research report on Tuesday, April 2nd. StockNews.com upgraded SL Green Realty to a sell rating in a report on Wednesday, May 8th. BMO Capital Markets upgraded SL Green Realty from a market perform rating to an outperform rating and upped their target price for the stock from $56.00 to $58.00 in a report on Thursday, April 18th. JPMorgan Chase & Co. upped their target price on SL Green Realty from $43.00 to $44.00 and gave the stock an underweight rating in a report on Thursday, April 25th. Finally, Barclays upgraded SL Green Realty from an underweight rating to an equal weight rating and upped their target price for the stock from $35.00 to $48.00 in a report on Wednesday, March 27th. Seven analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $44.62.

SL Green Realty Stock Performance

Shares of SL Green Realty stock opened at $56.43 on Monday. The stock’s fifty day moving average is $53.38 and its two-hundred day moving average is $49.92. The company has a market capitalization of $3.72 billion, a PE ratio of -6.83, a price-to-earnings-growth ratio of 1.05 and a beta of 1.83. The company has a quick ratio of 2.96, a current ratio of 2.96 and a debt-to-equity ratio of 1.01. SL Green Realty has a 52 week low of $28.55 and a 52 week high of $58.54.

SL Green Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date of this dividend is Friday, June 28th. SL Green Realty’s dividend payout ratio (DPR) is currently -36.32%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SLG. PNC Financial Services Group Inc. increased its position in SL Green Realty by 11.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,092 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 749 shares in the last quarter. Mariner LLC increased its position in SL Green Realty by 11.9% during the 3rd quarter. Mariner LLC now owns 13,322 shares of the real estate investment trust’s stock valued at $497,000 after buying an additional 1,415 shares in the last quarter. Natixis Advisors L.P. increased its position in SL Green Realty by 40.6% during the 3rd quarter. Natixis Advisors L.P. now owns 16,883 shares of the real estate investment trust’s stock valued at $630,000 after buying an additional 4,873 shares in the last quarter. Gotham Asset Management LLC increased its holdings in shares of SL Green Realty by 3.6% in the third quarter. Gotham Asset Management LLC now owns 10,526 shares of the real estate investment trust’s stock valued at $393,000 after purchasing an additional 362 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of SL Green Realty by 47.6% in the third quarter. Lazard Asset Management LLC now owns 17,500 shares of the real estate investment trust’s stock valued at $652,000 after purchasing an additional 5,644 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

About SL Green Realty

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.