SL Green Realty Corp (NYSE:SLG) has earned a consensus rating of “Hold” from the seventeen ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $110.83.
A number of brokerages have recently issued reports on SLG. TheStreet raised SL Green Realty from a “c+” rating to a “b-” rating in a research report on Friday, August 10th. Morgan Stanley reduced their price target on SL Green Realty from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 14th. ValuEngine raised SL Green Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. BMO Capital Markets reaffirmed a “$100.62” rating and set a $115.00 price target on shares of SL Green Realty in a research report on Wednesday, July 18th. Finally, Citigroup reduced their price target on SL Green Realty from $118.00 to $116.00 and set a “buy” rating on the stock in a research report on Tuesday, July 24th.
In related news, Director John S. Levy sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $103.58, for a total value of $103,580.00. Following the transaction, the director now directly owns 14,827 shares of the company’s stock, valued at approximately $1,535,780.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Andrew W. Mathias sold 65,000 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $105.34, for a total value of $6,847,100.00. Following the completion of the transaction, the president now directly owns 277,720 shares in the company, valued at $29,255,024.80. The disclosure for this sale can be found here. 3.65% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal London Asset Management Ltd. acquired a new position in shares of SL Green Realty in the 2nd quarter valued at $3,821,000. Mount Yale Investment Advisors LLC acquired a new position in shares of SL Green Realty in the 2nd quarter valued at $143,000. Andra AP fonden increased its position in shares of SL Green Realty by 8.6% in the 2nd quarter. Andra AP fonden now owns 51,600 shares of the real estate investment trust’s stock valued at $5,187,000 after acquiring an additional 4,100 shares during the period. Global X Management Co LLC increased its position in shares of SL Green Realty by 23.9% in the 2nd quarter. Global X Management Co LLC now owns 3,273 shares of the real estate investment trust’s stock valued at $329,000 after acquiring an additional 632 shares during the period. Finally, Verition Fund Management LLC acquired a new position in shares of SL Green Realty in the 2nd quarter valued at $419,000.
SL Green Realty stock traded up $0.46 during mid-day trading on Friday, reaching $99.80. 9,058 shares of the company were exchanged, compared to its average volume of 594,375. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.91. The firm has a market cap of $8.53 billion, a P/E ratio of 15.35, a P/E/G ratio of 3.05 and a beta of 1.08. SL Green Realty has a 12-month low of $89.46 and a 12-month high of $106.54.
SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, July 18th. The real estate investment trust reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.01. The company had revenue of $301.10 million during the quarter, compared to analyst estimates of $241.47 million. SL Green Realty had a return on equity of 4.24% and a net margin of 21.45%. SL Green Realty’s revenue was down 24.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.78 earnings per share. equities analysts expect that SL Green Realty will post 6.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be given a $0.8125 dividend. This represents a $3.25 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Thursday, September 27th. SL Green Realty’s payout ratio is 50.39%.
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 June 30, 2018, SL Green held interests in 116 Manhattan buildings totaling 49.3 million square feet.
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