SL Green Realty (NYSE:SLG) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of SL Green Realty (NYSE:SLG) from a strong sell rating to a sell rating in a report published on Saturday.

Several other brokerages have also issued reports on SLG. Barclays set a $52.00 price target on shares of SL Green Realty and gave the company an “equal weight” rating in a report on Tuesday. Citigroup reaffirmed a “buy” rating and set a $60.00 price objective (up from $45.00) on shares of SL Green Realty in a research note on Friday. Evercore lowered SL Green Realty from an “outperform” rating to an “in-line” rating and set a $56.00 target price on the stock. in a report on Monday, July 6th. LADENBURG THALM/SH SH boosted their target price on SL Green Realty from $42.00 to $46.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Finally, Mizuho increased their price target on SL Green Realty from $38.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $54.75.

SL Green Realty Stock Up 1.9%

Shares of NYSE SLG opened at $54.62 on Friday. The stock has a market cap of $3.90 billion, a P/E ratio of -20.01 and a beta of 1.58. The firm has a 50 day moving average price of $48.91 and a 200 day moving average price of $44.15. The company has a debt-to-equity ratio of 1.12, a quick ratio of 3.03 and a current ratio of 3.10. SL Green Realty has a 52-week low of $34.77 and a 52-week high of $66.29.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.21. The firm had revenue of $171.85 million during the quarter, compared to the consensus estimate of $179.01 million. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.43%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 earnings per share. SL Green Realty has set its FY 2026 guidance at 5.600-5.900 EPS. Analysts expect that SL Green Realty will post 4.53 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.6175 dividend. This represents a $2.47 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, June 30th. SL Green Realty’s payout ratio is currently -90.48%.

Hedge Funds Weigh In On SL Green Realty

A number of large investors have recently added to or reduced their stakes in the company. Triumph Capital Management acquired a new stake in shares of SL Green Realty in the 3rd quarter valued at about $45,000. Davis Capital Management acquired a new position in shares of SL Green Realty during the first quarter worth about $46,000. Fourth Dimension Wealth LLC boosted its position in shares of SL Green Realty by 45.5% during the fourth quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 500 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of SL Green Realty by 30.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock worth $74,000 after buying an additional 378 shares in the last quarter. Finally, Leonteq Securities AG grew its holdings in shares of SL Green Realty by 4,194.0% during the first quarter. Leonteq Securities AG now owns 2,147 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 2,097 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

About SL Green Realty

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.