SL Green Realty (NYSE:SLG) Price Target Raised to $72.00 at Jefferies Financial Group

SL Green Realty (NYSE:SLG) had its price objective lifted by Jefferies Financial Group from $70.00 to $72.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

A number of other research firms also recently weighed in on SLG. The Goldman Sachs Group boosted their target price on shares of SL Green Realty from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Morgan Stanley lifted their price objective on SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Compass Point set a $65.00 price target on SL Green Realty and gave the stock a “neutral” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. upped their price target on SL Green Realty from $44.00 to $51.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Finally, Bank of America increased their price objective on shares of SL Green Realty from $59.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, SL Green Realty presently has an average rating of “Hold” and an average target price of $66.00.

SL Green Realty Trading Down 0.8 %

NYSE:SLG opened at $78.99 on Friday. The company’s 50-day simple moving average is $74.06 and its 200 day simple moving average is $64.55. The firm has a market capitalization of $5.21 billion, a P/E ratio of -31.60, a PEG ratio of 2.10 and a beta of 1.82. SL Green Realty has a one year low of $32.78 and a one year high of $82.81. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $1.21 by ($1.42). SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. The firm had revenue of $229.69 million for the quarter, compared to the consensus estimate of $136.66 million. During the same period in the previous year, the company earned $1.27 earnings per share. As a group, analysts forecast that SL Green Realty will post 7.6 EPS 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. Investors of record on Friday, November 29th will be paid a $0.25 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Friday, November 29th. SL Green Realty’s dividend payout ratio (DPR) is -120.00%.

Institutional Investors Weigh In On SL Green Realty

Institutional investors and hedge funds have recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its holdings in shares of SL Green Realty by 272.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 272 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of SL Green Realty in the 2nd quarter worth $29,000. Point72 DIFC Ltd purchased a new stake in SL Green Realty during the third quarter valued at about $35,000. Friedenthal Financial acquired a new position in SL Green Realty in the 3rd quarter worth approximately $49,000. Finally, Rothschild Investment LLC acquired a new position in SL Green Realty during the second quarter valued at $55,000. 89.96% of the stock is owned by institutional investors and hedge funds.

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.