Brokerages Set SL Green Realty Corporation (NYSE:SLG) PT at $55.15

Shares of SL Green Realty Corporation (NYSE:SLG) have earned a consensus recommendation of “Hold” from the nineteen ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $55.15.

A number of analysts have recently commented on the company. Truist Financial upped their target price on SL Green Realty from $44.00 to $46.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Mizuho lifted their price target on SL Green Realty from $38.00 to $46.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Morgan Stanley set a $52.00 price target on SL Green Realty and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Evercore lowered SL Green Realty from an “outperform” rating to an “in-line” rating and set a $56.00 price objective on the stock. in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of SL Green Realty from $49.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th.

SL Green Realty Price Performance

NYSE:SLG opened at $56.18 on Friday. SL Green Realty has a one year low of $34.77 and a one year high of $66.29. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.10 and a current ratio of 3.10. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of -20.58, a PEG ratio of 2.46 and a beta of 1.58. The firm’s fifty day moving average is $52.11 and its two-hundred day moving average is $44.88.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.21. The company had revenue of $264.00 million for the quarter, compared to the consensus estimate of $179.01 million. SL Green Realty had a negative return on equity of 4.37% and a negative net margin of 16.92%.The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period last year, the firm earned $1.63 EPS. Research analysts expect that SL Green Realty will post 5.44 EPS for the current year.

SL Green Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.6175 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.47 dividend on an annualized basis and a yield of 4.4%. SL Green Realty’s dividend payout ratio is -90.48%.

Institutional Trading of SL Green Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jupiter Topco LLC purchased a new position in SL Green Realty in the second quarter valued at $1,556,000. Hsbc Holdings PLC purchased a new stake in shares of SL Green Realty during the 2nd quarter worth about $9,808,000. Legal & General Group Plc acquired a new stake in shares of SL Green Realty during the 2nd quarter valued at about $27,344,000. The Manufacturers Life Insurance Company acquired a new stake in shares of SL Green Realty during the 2nd quarter valued at about $2,103,000. Finally, Algert Global LLC acquired a new stake in shares of SL Green Realty during the 2nd quarter valued at about $673,000. Institutional investors and hedge funds 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.