Citigroup Boosts SL Green Realty (NYSE:SLG) Price Target to $37.00

SL Green Realty (NYSE:SLG) had its price target hoisted by Citigroup from $31.00 to $37.00 in a research report report published on Thursday, Benzinga reports. They currently have a sell rating on the real estate investment trust’s stock.

Other equities analysts have also issued reports about the stock. Morgan Stanley upped their price objective on shares of SL Green Realty from $41.00 to $47.00 and gave the stock an equal weight rating in a report on Thursday, March 28th. Barclays upgraded shares of SL Green Realty from an underweight rating to an equal weight rating and increased their target price for the stock from $35.00 to $48.00 in a report on Wednesday, March 27th. Evercore ISI increased their price objective on shares of SL Green Realty from $46.00 to $47.00 and gave the company an underperform rating in a research report on Monday, April 22nd. Piper Sandler reissued an overweight rating and issued a $58.00 price objective on shares of SL Green Realty in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. increased their target price on shares of SL Green Realty from $43.00 to $44.00 and gave the company an underweight rating in a research report on Thursday, April 25th. Seven analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $46.29.

SL Green Realty Stock Performance

NYSE:SLG opened at $56.93 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.96. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of -6.89, a PEG ratio of 1.05 and a beta of 1.77. The company’s 50-day moving average is $52.10 and its two-hundred day moving average is $48.63. SL Green Realty has a 1-year low of $23.22 and a 1-year high of $58.54.

SL Green Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a $0.25 dividend. This represents a $3.00 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend is Thursday, May 30th. SL Green Realty’s dividend payout ratio (DPR) is -36.32%.

Institutional Trading of SL Green Realty

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in shares of SL Green Realty by 6.3% in the first quarter. GAMMA Investing LLC now owns 3,305 shares of the real estate investment trust’s stock valued at $182,000 after purchasing an additional 196 shares during the period. Rosenberg Matthew Hamilton lifted its stake in shares of SL Green Realty by 9.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 227 shares during the period. Sequoia Financial Advisors LLC increased its holdings in SL Green Realty by 1.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 13,739 shares of the real estate investment trust’s stock valued at $621,000 after acquiring an additional 255 shares in the last quarter. Arden Trust Co increased its holdings in SL Green Realty by 1.5% during the 4th quarter. Arden Trust Co now owns 23,935 shares of the real estate investment trust’s stock valued at $1,081,000 after acquiring an additional 356 shares in the last quarter. Finally, Gotham Asset Management LLC increased its holdings in SL Green Realty by 3.6% during the 3rd quarter. Gotham Asset Management LLC now owns 10,526 shares of the real estate investment trust’s stock valued at $393,000 after acquiring an additional 362 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.