SL Green Realty (NYSE:SLG) Price Target Raised to $79.00 at Evercore ISI

by · The Cerbat Gem

SL Green Realty (NYSE:SLG – Free Report) had its price objective hoisted by Evercore ISI from $67.00 to $79.00 in a report issued on Monday, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

Several other research firms have also issued reports on SLG. Bank of America lifted 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 note on Thursday, August 22nd. The Goldman Sachs Group increased their price objective on SL Green Realty from $38.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Compass Point set a $65.00 target price on SL Green Realty and gave the stock a “neutral” rating in a report on Friday, October 18th. StockNews.com upgraded SL Green Realty to a “sell” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company boosted their price objective on shares of SL Green Realty from $43.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $64.71.

Check Out Our Latest Analysis on SL Green Realty

SL Green Realty Price Performance

SLG opened at $77.47 on Monday. The company has a current ratio of 2.58, a quick ratio of 2.59 and a debt-to-equity ratio of 1.07. SL Green Realty has a 1 year low of $28.55 and a 1 year high of $79.08. The stock has a fifty day moving average price of $68.72 and a 200 day moving average price of $60.30. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of -30.99, a PEG ratio of 2.12 and a beta of 1.83.

SL Green Realty (NYSE:SLG – Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing the consensus estimate 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 net margin of 16.78% and a negative return on equity of 3.76%. During the same period in the previous year, the firm posted $1.27 EPS. Analysts forecast that SL Green Realty will post 7.62 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Thursday, October 31st. SL Green Realty’s payout ratio is presently -120.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SLG. Wealth Enhancement Advisory Services LLC increased its holdings in SL Green Realty by 4.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock valued at $262,000 after buying an additional 148 shares during the period. Xponance Inc. increased its stake in SL Green Realty by 6.6% in the second quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust’s stock valued at $240,000 after acquiring an additional 262 shares during the period. Vert Asset Management LLC raised its position in SL Green Realty by 1.5% in the third quarter. Vert Asset Management LLC now owns 26,909 shares of the real estate investment trust’s stock worth $1,873,000 after purchasing an additional 394 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in SL Green Realty by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the real estate investment trust’s stock worth $1,846,000 after purchasing an additional 500 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in SL Green Realty during the second quarter valued at approximately $29,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Company Profile

(Get Free Report)

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.

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