Jefferies Financial Group Issues Positive Forecast for SL Green Realty (NYSE:SLG) Stock Price

SL Green Realty (NYSE:SLG) had its price target increased by Jefferies Financial Group from $70.00 to $72.00 in a research note released on Friday,Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

SLG has been the topic of a number of other research reports. Evercore ISI upped their price target on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Morgan Stanley boosted their target price on SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Piper Sandler reissued an “overweight” rating and issued a $90.00 target price (up previously from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. The Goldman Sachs Group boosted their target price on SL Green Realty from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $87.00 target price (up previously from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $66.00.

SL Green Realty Trading Up 0.6 %

Shares of SL Green Realty stock opened at $79.64 on Friday. The firm’s 50-day moving average is $73.69 and its 200 day moving average is $63.99. SL Green Realty has a 1 year low of $32.78 and a 1 year high of $82.81. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). The firm had revenue of $229.69 million during the quarter, compared to the consensus estimate of $136.66 million. SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. During the same quarter in the previous year, the firm earned $1.27 EPS. As a group, equities analysts anticipate that SL Green Realty will post 7.61 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.00 annualized dividend and a yield of 3.77%. SL Green Realty’s payout ratio is -120.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of SL Green Realty by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,384,977 shares of the real estate investment trust’s stock valued at $572,524,000 after acquiring an additional 60,032 shares during the last quarter. Wellington Management Group LLP increased its stake in SL Green Realty by 50.5% in the third quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock worth $202,777,000 after purchasing an additional 977,321 shares during the period. Charles Schwab Investment Management Inc. increased its stake in SL Green Realty by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock worth $88,275,000 after purchasing an additional 97,653 shares during the period. Dimensional Fund Advisors LP increased its stake in SL Green Realty by 9.7% in the second quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust’s stock worth $56,350,000 after purchasing an additional 88,309 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in SL Green Realty by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 810,490 shares of the real estate investment trust’s stock worth $45,906,000 after purchasing an additional 14,167 shares during the period. 89.96% of the stock is currently 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.