SL Green Realty Corp (SLG) Receives Average Rating of “Hold” from Analysts

Shares of SL Green Realty Corp (NYSE:SLG) have been given an average recommendation of “Hold” by the eighteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, six have given a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $111.54.

A number of equities analysts recently weighed in on the stock. Sandler O’Neill reaffirmed a “buy” rating and issued a $115.00 target price on shares of SL Green Realty in a research note on Monday, April 23rd. ValuEngine lowered shares of SL Green Realty from a “hold” rating to a “sell” rating in a research note on Thursday, May 17th. Zacks Investment Research raised shares of SL Green Realty from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research note on Wednesday, April 11th. JPMorgan Chase & Co. reduced their target price on shares of SL Green Realty from $114.00 to $113.00 and set an “overweight” rating for the company in a research note on Tuesday, April 24th. Finally, SunTrust Banks lowered shares of SL Green Realty from a “buy” rating to a “hold” rating and set a $108.00 target price for the company. in a research note on Friday, March 9th.

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NYSE SLG traded up $0.91 on Tuesday, reaching $101.28. The company had a trading volume of 369,200 shares, compared to its average volume of 987,266. The firm has a market cap of $8.89 billion, a PE ratio of 15.70, a PEG ratio of 2.48 and a beta of 1.08. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.80. SL Green Realty has a 1-year low of $89.46 and a 1-year high of $107.88.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, April 18th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($1.10). The company had revenue of $301.70 million during the quarter, compared to analyst estimates of $295.93 million. SL Green Realty had a return on equity of 2.72% and a net margin of 13.36%. SL Green Realty’s revenue for the quarter was down 20.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.57 earnings per share. equities research analysts forecast that SL Green Realty will post 6.75 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be paid a dividend of $0.813 per share. The ex-dividend date is Thursday, June 28th. This represents a $3.25 dividend on an annualized basis and a dividend yield of 3.21%. SL Green Realty’s dividend payout ratio is 50.39%.

In other news, insider Andrew S. Levine sold 15,000 shares of the stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $100.23, for a total transaction of $1,503,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.65% of the company’s stock.

Several hedge funds have recently modified their holdings of SLG. Millennium Management LLC raised its holdings in shares of SL Green Realty by 1,668.9% in the 4th quarter. Millennium Management LLC now owns 492,035 shares of the real estate investment trust’s stock valued at $49,661,000 after purchasing an additional 464,219 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of SL Green Realty by 158.7% in the 1st quarter. JPMorgan Chase & Co. now owns 588,950 shares of the real estate investment trust’s stock valued at $57,027,000 after purchasing an additional 361,279 shares during the period. Alliancebernstein L.P. raised its holdings in shares of SL Green Realty by 71.1% in the 4th quarter. Alliancebernstein L.P. now owns 402,328 shares of the real estate investment trust’s stock valued at $40,607,000 after purchasing an additional 167,207 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of SL Green Realty by 352.2% in the 1st quarter. Nuveen Asset Management LLC now owns 188,005 shares of the real estate investment trust’s stock valued at $18,205,000 after purchasing an additional 146,426 shares during the period. Finally, Madison International Realty Holdings LLC raised its holdings in shares of SL Green Realty by 25.7% in the 1st quarter. Madison International Realty Holdings LLC now owns 646,723 shares of the real estate investment trust’s stock valued at $62,622,000 after purchasing an additional 132,066 shares during the period.

SL Green Realty Company Profile

SL Green Realty Corp., an S&P 500 company and New York City'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 March 31, 2018, SL Green held interests in 118 Manhattan buildings totaling 49.9 million square feet.