SL Green Realty Corporation (NYSE:SLG) Given Consensus Recommendation of “Hold” by Brokerages

Shares of SL Green Realty Corporation (NYSE:SLG) have been assigned a consensus recommendation of “Hold” from the nineteen research firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $54.75.

SLG has been the subject of a number of recent research reports. LADENBURG THALM/SH SH boosted their price objective on shares of SL Green Realty from $42.00 to $46.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. increased their target price on SL Green Realty from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. UBS Group set a $56.00 price target on SL Green Realty in a report on Monday, July 6th. Weiss Ratings raised SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Finally, Piper Sandler set a $79.00 price target on shares of SL Green Realty and gave the company an “overweight” rating in a research report on Friday.

Hedge Funds Weigh In On SL Green Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in SL Green Realty by 74.8% in the 1st quarter. AQR Capital Management LLC now owns 26,883 shares of the real estate investment trust’s stock worth $1,519,000 after purchasing an additional 11,506 shares in the last quarter. United Services Automobile Association purchased a new stake in SL Green Realty during the first quarter worth about $253,000. Empowered Funds LLC increased its stake in SL Green Realty by 10.9% during the 1st quarter. Empowered Funds LLC now owns 7,374 shares of the real estate investment trust’s stock worth $425,000 after buying an additional 722 shares during the period. Creative Planning acquired a new stake in shares of SL Green Realty in the second quarter valued at $421,000. Finally, California Public Employees Retirement System raised its position in SL Green Realty by 4.6% in the 2nd quarter. California Public Employees Retirement System now owns 131,528 shares of the real estate investment trust’s stock valued at $8,142,000 after purchasing an additional 5,789 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Price Performance

SLG opened at $54.62 on Monday. The company has a current ratio of 3.10, a quick ratio of 3.03 and a debt-to-equity ratio of 1.12. SL Green Realty has a 12-month low of $34.77 and a 12-month high of $66.29. The business’s fifty day simple moving average is $48.91 and its 200-day simple moving average is $44.12. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -20.01 and a beta of 1.58.

SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, July 22nd. The real estate investment trust reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.21. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.43%. The business had revenue of $171.85 million for the quarter, compared to the consensus estimate of $179.01 million. During the same quarter last year, the firm posted $1.63 EPS. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. SL Green Realty has set its FY 2026 guidance at 5.600-5.900 EPS. On average, equities research analysts anticipate that SL Green Realty will post 4.53 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.6175 dividend. This represents a $2.47 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, June 30th. SL Green Realty’s dividend payout ratio (DPR) is presently -90.48%.

About SL Green Realty

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.