Brokerages Set SL Green Realty Corporation (NYSE:SLG) Target Price at $52.85

SL Green Realty Corporation (NYSE:SLG) has been assigned an average rating of “Hold” from the eighteen analysts that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $52.80.

A number of equities analysts have issued reports on SLG shares. Barclays cut their target price on SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. UBS Group set a $61.00 price target on shares of SL Green Realty in a research report on Wednesday, January 14th. Mizuho set a $38.00 price target on shares of SL Green Realty and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. BTIG Research cut their price target on shares of SL Green Realty from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Finally, Zacks Research upgraded shares of SL Green Realty from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th.

SL Green Realty Stock Up 3.6%

Shares of SL Green Realty stock opened at $38.85 on Tuesday. SL Green Realty has a 1-year low of $35.03 and a 1-year high of $66.91. The company has a market capitalization of $2.77 billion, a PE ratio of -24.13 and a beta of 1.66. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.66 and a quick ratio of 2.66. The business has a 50-day moving average of $41.42 and a 200-day moving average of $48.03.

SL Green Realty (NYSE:SLG) last released 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. The business had revenue of $159.82 million for the quarter, compared to analysts’ expectations of $162.73 million. SL Green Realty had a negative return on equity of 2.44% and a negative net margin of 9.66%.The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.81 earnings per share. As a group, equities analysts forecast that SL Green Realty will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Tuesday, March 31st. SL Green Realty’s dividend payout ratio is -144.10%.

Hedge Funds Weigh In On SL Green Realty

A number of hedge funds have recently bought and sold shares of the company. Cohen & Steers Inc. bought a new stake in SL Green Realty in the fourth quarter valued at about $121,675,000. Goldman Sachs Group Inc. lifted its holdings in SL Green Realty by 62.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust’s stock worth $133,862,000 after buying an additional 1,117,357 shares during the last quarter. Norges Bank acquired a new position in shares of SL Green Realty in the 4th quarter worth approximately $44,094,000. M&T Bank Corp acquired a new position in shares of SL Green Realty in the 4th quarter worth approximately $43,201,000. Finally, Victory Capital Management Inc. increased its holdings in shares of SL Green Realty by 535.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,107,618 shares of the real estate investment trust’s stock valued at $50,806,000 after acquiring an additional 933,272 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.