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

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

Other equities research analysts also recently issued research reports about the company. StockNews.com upgraded SL Green Realty to a sell rating in a report on Wednesday, May 8th. Barclays upgraded SL Green Realty from an underweight rating to an equal weight rating and upped their price objective for the company from $35.00 to $48.00 in a report on Wednesday, March 27th. Citigroup upped their price objective on SL Green Realty from $31.00 to $37.00 and gave the company a sell rating in a report on Thursday, June 13th. Piper Sandler reiterated an overweight rating and issued a $58.00 price objective on shares of SL Green Realty in a report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. upped their price objective on SL Green Realty from $43.00 to $44.00 and gave the company an underweight rating in a report on Thursday, April 25th. Seven research 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. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $44.62.

SL Green Realty Trading Up 1.5 %

SLG stock opened at $56.43 on Monday. The company has a market cap of $3.72 billion, a P/E ratio of -6.83, a PEG ratio of 1.03 and a beta of 1.83. SL Green Realty has a twelve month low of $28.55 and a twelve month high of $58.54. The company has a quick ratio of 2.96, a current ratio of 2.96 and a debt-to-equity ratio of 1.01. The business has a fifty day moving average of $53.49 and a 200-day moving average of $49.96.

SL Green Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.00 annualized dividend and a yield of 5.32%. SL Green Realty’s dividend payout ratio is presently -36.32%.

Hedge Funds Weigh In On SL Green Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLG. Private Trust Co. NA bought a new position in shares of SL Green Realty in the 4th quarter valued at $33,000. Financial Gravity Asset Management Inc. increased its stake in shares of SL Green Realty by 3,073.3% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 922 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of SL Green Realty in the 1st quarter valued at $55,000. Rosenberg Matthew Hamilton increased its stake in shares of SL Green Realty by 9.6% in the 4th 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 last quarter. Finally, GAMMA Investing LLC bought a new position in shares of SL Green Realty in the 4th quarter valued at $140,000. 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.