SL Green Realty Corporation (SLG) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of SL Green Realty Corporation (NYSE:SLG) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “Shares of SL Green have underperformed its industry year to date. Nonetheless, SL Green enjoys high-quality office properties as well as diverse tenant base, makes opportunistic investments and has solid balance-sheet strength. In addition, its leasing activity is likely to remain decent amid an improving economy and job market environment. Also, in September the company acquired stake in Worldwide Plaza through a partnership with private investment manager RXR Realty. However, SL Green faces intense competition from developers, owners and operators of office properties and other commercial real estate which limits its pricing power. Moreover, rate hike add to its woes.”

SLG has been the topic of a number of other research reports. SunTrust Banks, Inc. set a $115.00 target price on shares of SL Green Realty Corporation and gave the company a buy rating in a research report on Saturday, October 21st. Barclays PLC decreased their target price on shares of SL Green Realty Corporation from $111.00 to $105.00 and set an equal weight rating on the stock in a research report on Wednesday, November 1st. UBS AG raised shares of SL Green Realty Corporation from a neutral rating to a buy rating and set a $117.00 target price on the stock in a research report on Thursday, July 13th. KeyCorp reaffirmed a buy rating and issued a $130.00 target price on shares of SL Green Realty Corporation in a research report on Tuesday, September 26th. Finally, BMO Capital Markets reissued a buy rating and set a $125.00 price target on shares of SL Green Realty Corporation in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. SL Green Realty Corporation has a consensus rating of Hold and a consensus price target of $115.00.

SL Green Realty Corporation (SLG) traded up $1.14 during midday trading on Tuesday, reaching $99.89. 793,846 shares of the company’s stock were exchanged, compared to its average volume of 1,076,666. SL Green Realty Corporation has a 52 week low of $93.92 and a 52 week high of $115.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a market capitalization of $9,703.74, a PE ratio of 15.75, a P/E/G ratio of 2.55 and a beta of 1.16.

SL Green Realty Corporation (NYSE:SLG) last posted its earnings results on Wednesday, October 18th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($1.17). SL Green Realty Corporation had a net margin of 7.70% and a return on equity of 1.51%. The company had revenue of $319.50 million during the quarter, compared to analyst estimates of $326.70 million. During the same period in the previous year, the company earned $1.63 EPS. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. equities research analysts anticipate that SL Green Realty Corporation will post 6.45 EPS for the current fiscal year.

WARNING: “SL Green Realty Corporation (SLG) Rating Increased to Hold at Zacks Investment Research” was published by BBNS and is the sole property of of BBNS. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at https://baseballnewssource.com/markets/sl-green-realty-corporation-slg-rating-increased-to-hold-at-zacks-investment-research/1764162.html.

The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Monday, October 2nd were paid a dividend of $0.775 per share. The ex-dividend date of this dividend was Friday, September 29th. This represents a $3.10 dividend on an annualized basis and a dividend yield of 3.10%. SL Green Realty Corporation’s payout ratio is 300.97%.

Hedge funds have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL purchased a new stake in shares of SL Green Realty Corporation during the first quarter worth approximately $203,000. Capital Investment Counsel Inc purchased a new stake in shares of SL Green Realty Corporation during the third quarter worth approximately $213,000. BB&T Securities LLC purchased a new stake in shares of SL Green Realty Corporation during the second quarter worth approximately $226,000. OppenheimerFunds Inc. increased its stake in shares of SL Green Realty Corporation by 13.0% during the first quarter. OppenheimerFunds Inc. now owns 2,136 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 246 shares during the period. Finally, Parametrica Management Ltd purchased a new position in SL Green Realty Corporation in the second quarter valued at approximately $244,000.

SL Green Realty Corporation Company Profile

SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.

Get a free copy of the Zacks research report on SL Green Realty Corporation (SLG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for SL Green Realty Corporation (NYSE:SLG)

Receive News & Ratings for SL Green Realty Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SL Green Realty Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Brandon Morrow Becomes Hot Commodity
Brandon Morrow Becomes Hot Commodity
Red Sox Want Sluggers, Giancarlo Stanton May Become Available
Red Sox Want Sluggers, Giancarlo Stanton May Become Available


Leave a Reply

 
© 2006-2017 BBNS.