KeyCorp Analysts Give SL Green Realty Corporation (SLG) a $130.00 Price Target

KeyCorp set a $130.00 price target on SL Green Realty Corporation (NYSE:SLG) in a research report released on Sunday. The brokerage currently has a buy rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the company. Bank of America Corporation cut SL Green Realty Corporation from a buy rating to a neutral rating and reduced their target price for the company from $113.00 to $110.00 in a research note on Wednesday, August 16th. BMO Capital Markets reissued a buy rating and set a $127.00 price target on shares of SL Green Realty Corporation in a research report on Tuesday, July 4th. Zacks Investment Research lowered SL Green Realty Corporation from a hold rating to a sell rating in a research report on Tuesday, October 17th. Robert W. Baird upped their price target on SL Green Realty Corporation from $120.00 to $121.00 and gave the company an outperform rating in a research report on Monday, October 23rd. Finally, Stifel Nicolaus dropped their price target on SL Green Realty Corporation from $112.00 to $105.00 and set a hold rating on the stock in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $115.00.

SL Green Realty Corporation (NYSE:SLG) last released its earnings results on Wednesday, October 18th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($1.17). The business 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 business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.63 earnings per share.

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The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were given a $0.775 dividend. This represents a $3.10 annualized dividend and a yield of 3.24%. 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 hedge funds and other institutional investors have recently modified their holdings of the business. Somerset Trust Co increased its position in SL Green Realty Corporation by 0.5% in the second quarter. Somerset Trust Co now owns 4,052 shares of the real estate investment trust’s stock worth $429,000 after buying an additional 19 shares during the period. Keybank National Association OH increased its position in SL Green Realty Corporation by 2.3% in the second quarter. Keybank National Association OH now owns 3,533 shares of the real estate investment trust’s stock worth $374,000 after buying an additional 79 shares during the period. Louisiana State Employees Retirement System increased its position in SL Green Realty Corporation by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 6,300 shares of the real estate investment trust’s stock worth $667,000 after buying an additional 100 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in SL Green Realty Corporation by 1.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,565 shares of the real estate investment trust’s stock worth $800,000 after buying an additional 104 shares during the period. Finally, GAM Holding AG increased its position in SL Green Realty Corporation by 1.1% in the second quarter. GAM Holding AG now owns 12,259 shares of the real estate investment trust’s stock worth $1,297,000 after buying an additional 135 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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