SL Green Realty (NYSE:SLG) Given New $72.00 Price Target at Jefferies Financial Group

SL Green Realty (NYSE:SLG) had its price objective raised by Jefferies Financial Group from $70.00 to $72.00 in a report published on Friday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the real estate investment trust’s stock.

SLG has been the subject of a number of other research reports. Wells Fargo & Company lifted their target price on SL Green Realty from $43.00 to $63.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. Piper Sandler reaffirmed an “overweight” rating and set a $90.00 target price (up previously from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Evercore ISI lifted their price target on SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Bank of America lifted their price target on SL Green Realty from $59.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Finally, Barclays lifted their price target on SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $66.00.

SL Green Realty Stock Performance

Shares of NYSE SLG opened at $79.64 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. The business has a 50-day simple moving average of $73.69 and a two-hundred day simple moving average of $63.99. SL Green Realty has a fifty-two week low of $32.78 and a fifty-two week high of $82.81.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $1.21 by ($1.42). The business had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. During the same period in the prior year, the business posted $1.27 EPS. On average, equities analysts forecast that SL Green Realty will post 7.61 EPS for the current year.

SL Green Realty Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Friday, November 29th. SL Green Realty’s payout ratio is -120.00%.

Institutional Trading of SL Green Realty

Large investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its position in shares of SL Green Realty by 18.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 67,923 shares of the real estate investment trust’s stock worth $3,665,000 after purchasing an additional 10,704 shares in the last quarter. Edgestream Partners L.P. boosted its stake in SL Green Realty by 40.1% during the second quarter. Edgestream Partners L.P. now owns 122,880 shares of the real estate investment trust’s stock worth $6,960,000 after buying an additional 35,178 shares during the last quarter. Swedbank AB acquired a new position in SL Green Realty during the first quarter worth $4,675,000. Waterfall Asset Management LLC acquired a new position in SL Green Realty during the second quarter worth $3,172,000. Finally, Daiwa Securities Group Inc. boosted its stake in SL Green Realty by 13.2% during the second quarter. Daiwa Securities Group Inc. now owns 127,899 shares of the real estate investment trust’s stock worth $7,244,000 after buying an additional 14,871 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.