Brokerages Set SL Green Realty Corporation (NYSE:SLG) Target Price at $51.45

SL Green Realty Corporation (NYSE:SLG) has been assigned an average rating of “Hold” from the nineteen research firms that are covering the stock, Marketbeat reports. Two investment 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 12 month price target among analysts that have issued a report on the stock in the last year is $51.45.

Several equities research analysts have recently commented on SLG shares. Scotiabank set a $52.00 price target on shares of SL Green Realty and gave the stock a “sector outperform” rating in a research report on Friday, March 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of SL Green Realty in a research report on Wednesday, January 21st. Mizuho set a $38.00 price target on shares of SL Green Realty and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. LADENBURG THALM/SH SH lowered their price target on shares of SL Green Realty from $60.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, December 18th. Finally, JPMorgan Chase & Co. lowered their price target on shares of SL Green Realty from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday, January 14th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in SL Green Realty by 12.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 727,906 shares of the real estate investment trust’s stock worth $43,536,000 after acquiring an additional 81,910 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in 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 acquiring an additional 39,135 shares during the last quarter. Picton Mahoney Asset Management boosted its stake in SL Green Realty by 218.2% during the 3rd quarter. Picton Mahoney Asset Management now owns 239,012 shares of the real estate investment trust’s stock worth $14,296,000 after acquiring an additional 163,903 shares during the last quarter. Strs Ohio boosted its stake in SL Green Realty by 78.6% during the 3rd quarter. Strs Ohio now owns 138,800 shares of the real estate investment trust’s stock worth $8,302,000 after acquiring an additional 61,100 shares during the last quarter. Finally, Aberdeen Group plc boosted its stake in SL Green Realty by 95.8% during the 3rd quarter. Aberdeen Group plc now owns 288,709 shares of the real estate investment trust’s stock worth $17,302,000 after acquiring an additional 141,263 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Trading Up 1.6%

SLG opened at $39.04 on Friday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $2.78 billion, a PE ratio of -24.25 and a beta of 1.61. SL Green Realty has a 1-year low of $34.77 and a 1-year high of $66.91. The firm has a 50-day moving average price of $38.66 and a two-hundred day moving average price of $45.38.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 EPS for the quarter, topping the consensus estimate of $1.10 by $0.03. SL Green Realty had a negative net margin of 9.66% and a negative return on equity of 2.44%. The company had revenue of $159.82 million during the quarter, compared to analysts’ expectations of $162.73 million. During the same quarter in the previous year, the company earned $1.81 EPS. SL Green Realty’s revenue was up 14.5% on a year-over-year basis. As a group, equities analysts anticipate that SL Green Realty will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.6175 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.47 annualized dividend and a dividend yield of 6.3%. SL Green Realty’s payout ratio is currently -153.42%.

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.