Brokerages Set SL Green Realty Corp. (NYSE:SLG) Target Price at $45.83

SL Green Realty Corp. (NYSE:SLG) has earned an average recommendation of “Reduce” from the twelve analysts that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $47.25.

Several equities analysts have commented on SLG shares. TheStreet raised shares of SL Green Realty from a “d+” rating to a “c-” rating in a research report on Wednesday, January 10th. Morgan Stanley raised their price target on SL Green Realty from $41.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, March 28th. Scotiabank raised their price target 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 raised SL Green Realty to a “sell” rating in a research report on Saturday, February 3rd. Finally, Truist Financial downgraded SL Green Realty from a “buy” rating to a “hold” rating and raised their price target for the company from $44.00 to $47.00 in a research report on Tuesday, January 16th.

SL Green Realty Trading Up 2.5 %

SL Green Realty stock opened at $50.80 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.23. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of -6.15, a PEG ratio of 1.34 and a beta of 1.71. SL Green Realty has a one year low of $20.51 and a one year high of $55.75. The company’s fifty day moving average price is $50.04 and its two-hundred day moving average price is $43.41.

SL Green Realty Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date of this dividend is Monday, April 29th. SL Green Realty’s dividend payout ratio is -36.32%.

Insiders Place Their Bets

In other SL Green Realty news, Director Betsy S. Atkins sold 9,894 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $47.25, for a total transaction of $467,491.50. Following the completion of the transaction, the director now owns 6,886 shares in the company, valued at $325,363.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other SL Green Realty news, Director Betsy S. Atkins sold 9,894 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $47.25, for a total transaction of $467,491.50. Following the completion of the transaction, the director now owns 6,886 shares in the company, valued at $325,363.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carol N. Brown sold 5,118 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $44.37, for a total transaction of $227,085.66. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of SL Green Realty by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 10,324,945 shares of the real estate investment trust’s stock valued at $466,378,000 after acquiring an additional 43,241 shares during the last quarter. Deutsche Bank AG raised its stake in shares of SL Green Realty by 2,563.6% in the third quarter. Deutsche Bank AG now owns 1,999,279 shares of the real estate investment trust’s stock valued at $74,573,000 after acquiring an additional 1,924,221 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of SL Green Realty by 7.6% in the fourth quarter. Wellington Management Group LLP now owns 1,114,957 shares of the real estate investment trust’s stock valued at $50,363,000 after acquiring an additional 78,322 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of SL Green Realty by 4.6% in the third quarter. Bank of New York Mellon Corp now owns 1,033,136 shares of the real estate investment trust’s stock valued at $38,536,000 after acquiring an additional 45,247 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of SL Green Realty by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,024,383 shares of the real estate investment trust’s stock valued at $46,271,000 after acquiring an additional 30,289 shares during the last quarter. Institutional investors 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.