Research Analysts’ Weekly Ratings Updates for SL Green Realty (SLG)

Several analysts have recently updated their ratings and price targets for SL Green Realty (NYSE: SLG):

• 10/22/2024 – SL Green Realty had its price target raised by analysts at Barclays PLC from $66.00 to $78.00. They now have an “equal weight” rating on the stock.
• 10/21/2024 – SL Green Realty had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $90.00 price target on the stock, up previously from $75.00.
• 10/21/2024 – SL Green Realty had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $87.00 price target on the stock, up previously from $72.00.
• 10/21/2024 – SL Green Realty had its price target raised by analysts at Evercore ISI from $67.00 to $79.00. They now have an “in-line” rating on the stock.
• 10/18/2024 – SL Green Realty was given a new $65.00 price target on by analysts at Compass Point. They now have a “neutral” rating on the stock.
• 10/17/2024 – SL Green Realty was given a new $75.00 price target on by analysts at Piper Sandler.
• 10/10/2024 – SL Green Realty had its price target raised by analysts at Barclays PLC from $58.00 to $66.00. They now have an “equal weight” rating on the stock.
• 10/9/2024 – SL Green Realty had its price target raised by analysts at Morgan Stanley from $47.00 to $50.00. They now have an “equal weight” rating on the stock.
• 9/18/2024 – SL Green Realty was upgraded by analysts at Compass Point from a “sell” rating to a “neutral” rating. They now have a $60.00 price target on the stock, up previously from $35.00.
• 9/16/2024 – SL Green Realty was upgraded by analysts at Evercore ISI from an “underperform” rating to an “inline” rating. They now have a $66.00 price target on the stock, up previously from $55.00.
• 9/13/2024 – SL Green Realty was upgraded by analysts at Citigroup Inc. from a “sell” rating to a “neutral” rating. They now have a $66.00 price target on the stock, up previously from $44.00.
• 9/11/2024 – SL Green Realty had its price target raised by analysts at Wells Fargo & Company from $43.00 to $63.00. They now have an “equal weight” rating on the stock.
• 8/28/2024 – SL Green Realty had its price target raised by analysts at Evercore ISI from $54.00 to $55.00. They now have an “underperform” rating on the stock.

SL Green Realty Trading Up 2.1 %

Shares of NYSE SLG traded up $1.57 during mid-day trading on Thursday, hitting $77.15. The company’s stock had a trading volume of 94,370 shares, compared to its average volume of 982,458. SL Green Realty Corp. has a one year low of $28.55 and a one year high of $79.08. The company’s fifty day simple moving average is $68.44 and its 200-day simple moving average is $60.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.58 and a quick ratio of 2.59. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of -30.86, a price-to-earnings-growth ratio of 2.12 and a beta of 1.83.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data 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 business had revenue of $229.69 million during the quarter, compared to the consensus estimate of $136.66 million. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. During the same period in the previous year, the business posted $1.27 earnings per share. On average, sell-side analysts anticipate that SL Green Realty Corp. will post 7.62 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.89%. SL Green Realty’s dividend payout ratio (DPR) is presently -120.00%.

Hedge Funds Weigh In On SL Green Realty

Several hedge funds have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. increased its stake in shares of SL Green Realty by 479.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 113,028 shares of the real estate investment trust’s stock valued at $6,231,000 after acquiring an additional 93,511 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in SL Green Realty by 12.0% in the first quarter. Janney Montgomery Scott LLC now owns 124,978 shares of the real estate investment trust’s stock valued at $6,890,000 after purchasing an additional 13,412 shares in the last quarter. UniSuper Management Pty Ltd raised its holdings in SL Green Realty by 82.0% in the first quarter. UniSuper Management Pty Ltd now owns 33,229 shares of the real estate investment trust’s stock worth $1,832,000 after purchasing an additional 14,975 shares during the period. Russell Investments Group Ltd. boosted its position in shares of SL Green Realty by 24.7% during the first quarter. Russell Investments Group Ltd. now owns 799,431 shares of the real estate investment trust’s stock worth $44,067,000 after purchasing an additional 158,268 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of SL Green Realty by 18.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 67,923 shares of the real estate investment trust’s stock valued at $3,665,000 after buying an additional 10,704 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.