SunTrust Banks, Inc. set a $115.00 price target on SL Green Realty Corporation (NYSE:SLG) in a research report released on Saturday morning. The brokerage currently has a buy rating on the real estate investment trust’s stock.
A number of other research firms have also issued reports on SLG. BMO Capital Markets reiterated a buy rating and set a $127.00 price objective on shares of SL Green Realty Corporation in a research note on Tuesday, July 4th. Barclays PLC dropped their price objective on shares of SL Green Realty Corporation from $111.00 to $110.00 and set an equal weight rating on the stock in a research note on Tuesday, July 18th. BidaskClub lowered shares of SL Green Realty Corporation from a sell rating to a strong sell rating in a research note on Monday, July 31st. Zacks Investment Research lowered shares of SL Green Realty Corporation from a hold rating to a sell rating in a research note on Tuesday, October 17th. Finally, Jefferies Group LLC reiterated a hold rating and set a $113.00 price objective on shares of SL Green Realty Corporation in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $115.54.
Shares of SL Green Realty Corporation (NYSE:SLG) traded down 1.28% during midday trading on Friday, hitting $97.40. 986,351 shares of the company’s stock were exchanged. SL Green Realty Corporation has a 1-year low of $93.90 and a 1-year high of $115.34. The stock has a market cap of $9.64 billion, a PE ratio of 93.65 and a beta of 1.20. The stock’s 50 day moving average is $100.35 and its 200-day moving average is $102.72.
SL Green Realty Corporation (NYSE:SLG) last posted its quarterly earnings data on Wednesday, October 18th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($1.17). The firm had revenue of $319.50 million for the quarter, compared to analysts’ expectations of $326.70 million. SL Green Realty Corporation had a net margin of 7.70% and a return on equity of 1.51%. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 EPS. Analysts predict that SL Green Realty Corporation will post $0.24 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were issued a $0.775 dividend. This represents a $3.10 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Friday, September 29th. SL Green Realty Corporation’s dividend payout ratio is presently 300.97%.
A number of institutional investors have recently added to or reduced their stakes in SLG. Tudor Investment Corp ET AL acquired a new position in SL Green Realty Corporation in the first quarter worth $203,000. Achmea Investment Management B.V. acquired a new position in SL Green Realty Corporation in the first quarter worth $224,000. BB&T Securities LLC acquired a new position in SL Green Realty Corporation in the second quarter worth $226,000. OppenheimerFunds Inc. boosted its holdings in SL Green Realty Corporation by 13.0% in the first quarter. OppenheimerFunds Inc. now owns 2,136 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 246 shares during the period. Finally, Global X Management Co. LLC boosted its holdings in SL Green Realty Corporation by 35.1% in the first quarter. Global X Management Co. LLC now owns 2,146 shares of the real estate investment trust’s stock worth $229,000 after purchasing an additional 557 shares during the period.
SL Green Realty Corporation Company Profile
SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.
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