Truist Financial Boosts SL Green Realty (NYSE:SLG) Price Target to $55.00

SL Green Realty (NYSE:SLG) had its target price upped by Truist Financial from $47.00 to $55.00 in a research report report published on Friday morning, Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

A number of other equities analysts have also commented on the stock. Citigroup lifted their price target on shares of SL Green Realty from $31.00 to $37.00 and gave the stock a sell rating in a report on Thursday, June 13th. StockNews.com upgraded shares of SL Green Realty to a sell rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. lifted their price target on shares of SL Green Realty from $43.00 to $44.00 and gave the stock an underweight rating in a report on Thursday, April 25th. Barclays lifted their price target on shares of SL Green Realty from $48.00 to $49.00 and gave the stock an equal weight rating in a report on Monday, July 15th. Finally, Piper Sandler reiterated an overweight rating and set a $58.00 price target on shares of SL Green Realty in a report on Tuesday, March 26th. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, SL Green Realty presently has an average rating of Hold and a consensus price target of $46.08.

SL Green Realty Trading Down 0.0 %

NYSE SLG opened at $60.77 on Friday. The firm’s fifty day moving average price is $55.35 and its two-hundred day moving average price is $51.09. SL Green Realty has a fifty-two week low of $28.55 and a fifty-two week high of $66.54. The company has a quick ratio of 2.96, a current ratio of 2.59 and a debt-to-equity ratio of 0.99.

SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. The firm had revenue of $222.82 million for the quarter, compared to analysts’ expectations of $133.83 million. SL Green Realty had a negative net margin of 19.31% and a negative return on equity of 3.92%. The company’s revenue was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 earnings per share. As a group, sell-side analysts forecast that SL Green Realty will post 7.54 earnings per share for the current year.

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.00 annualized dividend and a yield of 4.94%. SL Green Realty’s payout ratio is -36.32%.

Institutional Investors Weigh In On SL Green Realty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Phocas Financial Corp. bought a new stake in SL Green Realty in the fourth quarter valued at $3,425,000. Prospect Financial Services LLC bought a new stake in SL Green Realty in the fourth quarter valued at $12,373,000. Jump Financial LLC bought a new stake in SL Green Realty in the fourth quarter valued at $2,808,000. Wellington Management Group LLP increased its stake in 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 purchasing an additional 78,322 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in SL Green Realty by 479.1% in the first quarter. Daiwa Securities Group Inc. now owns 113,028 shares of the real estate investment trust’s stock valued at $6,231,000 after purchasing an additional 93,511 shares in the last quarter. 89.96% of the stock is owned by 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.