SL Green Realty Corporation (NYSE:SLG) Receives Average Rating of “Hold” from Analysts

SL Green Realty Corporation (NYSE:SLG) has earned an average recommendation of “Hold” from the nineteen research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $51.15.

Several research firms have recently weighed in on SLG. The Goldman Sachs Group set a $37.00 target price on SL Green Realty and gave the company a “sell” rating in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of SL Green Realty in a research note on Wednesday, January 21st. Barclays decreased their price objective on SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Deutsche Bank Aktiengesellschaft raised SL Green Realty from a “hold” rating to a “buy” rating and dropped their target price for the company from $45.00 to $44.00 in a research report on Wednesday, March 18th. Finally, Raymond James Financial set a $44.00 price objective on shares of SL Green Realty in a research note on Tuesday, February 3rd.

Institutional Investors Weigh In On SL Green Realty

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in shares of SL Green Realty by 12.7% in the third quarter. JPMorgan Chase & Co. now owns 727,906 shares of the real estate investment trust’s stock valued at $43,536,000 after purchasing an additional 81,910 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in shares of SL Green Realty by 282.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 52,986 shares of the real estate investment trust’s stock worth $3,169,000 after purchasing an additional 39,135 shares during the period. Picton Mahoney Asset Management raised its holdings in SL Green Realty by 218.2% in the 3rd quarter. Picton Mahoney Asset Management now owns 239,012 shares of the real estate investment trust’s stock valued at $14,296,000 after buying an additional 163,903 shares during the period. Strs Ohio raised its stake in shares of SL Green Realty by 78.6% in the 3rd quarter. Strs Ohio now owns 138,800 shares of the real estate investment trust’s stock valued at $8,302,000 after acquiring an additional 61,100 shares during the period. Finally, Aberdeen Group plc increased its holdings in SL Green Realty by 95.8% in the 3rd quarter. Aberdeen Group plc now owns 288,709 shares of the real estate investment trust’s stock valued at $17,302,000 after purchasing an additional 141,263 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Down 0.0%

SLG stock opened at $45.74 on Wednesday. The stock has a market cap of $3.26 billion, a P/E ratio of -18.22 and a beta of 1.60. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 1.18. The business’s 50-day moving average price is $39.46 and its 200-day moving average price is $43.72. SL Green Realty has a twelve month low of $34.77 and a twelve month high of $66.91.

SL Green Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.6175 dividend. This represents a $2.47 annualized dividend and a dividend yield of 5.4%. The ex-dividend date was Tuesday, March 31st. SL Green Realty’s payout ratio is currently -98.41%.

SL Green Realty Company Profile

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.