SL Green Realty Corporation (SLG) Receives $115.58 Average Price Target from Analysts

SL Green Realty Corporation (NYSE:SLG) has been given a consensus rating of “Hold” by the sixteen analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $115.58.

A number of analysts have weighed in on the company. KeyCorp reaffirmed a “buy” rating and issued a $130.00 price target on shares of SL Green Realty Corporation in a research report on Tuesday, September 26th. BMO Capital Markets reduced their price target on SL Green Realty Corporation from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, September 21st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $104.00 price target (down previously from $106.00) on shares of SL Green Realty Corporation in a research report on Friday, September 1st. Bank of America Corporation cut SL Green Realty Corporation from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $113.00 to $110.00 in a research report on Wednesday, August 16th. Finally, BidaskClub cut SL Green Realty Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th.

SL Green Realty Corporation (SLG) traded up 1.13% during trading on Friday, hitting $104.39. The stock had a trading volume of 687,342 shares. The firm’s 50 day moving average is $98.44 and its 200 day moving average is $102.99. The firm has a market cap of $10.33 billion, a price-to-earnings ratio of 107.29 and a beta of 1.20. SL Green Realty Corporation has a 1-year low of $93.90 and a 1-year high of $115.34.

SL Green Realty Corporation (NYSE:SLG) last announced its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($1.54). SL Green Realty Corporation had a return on equity of 1.43% and a net margin of 7.20%. The company had revenue of $279.41 million during the quarter, compared to analyst estimates of $281.40 million. On average, analysts anticipate that SL Green Realty Corporation will post $0.41 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a dividend of $0.775 per share. The ex-dividend date is Friday, September 29th. This represents a $3.10 annualized dividend and a dividend yield of 2.97%. SL Green Realty Corporation’s dividend payout ratio is presently 319.59%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of SL Green Realty Corporation by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 17,792,497 shares of the real estate investment trust’s stock worth $1,897,036,000 after purchasing an additional 362,749 shares during the last quarter. BlackRock Inc. increased its stake in SL Green Realty Corporation by 0.8% during the second quarter. BlackRock Inc. now owns 9,414,955 shares of the real estate investment trust’s stock valued at $996,102,000 after acquiring an additional 77,742 shares during the period. Boston Partners increased its stake in SL Green Realty Corporation by 4.2% during the second quarter. Boston Partners now owns 3,137,553 shares of the real estate investment trust’s stock valued at $331,953,000 after acquiring an additional 125,928 shares during the period. FMR LLC increased its stake in SL Green Realty Corporation by 8.9% during the second quarter. FMR LLC now owns 2,846,095 shares of the real estate investment trust’s stock valued at $301,117,000 after acquiring an additional 232,516 shares during the period. Finally, Lasalle Investment Management Securities LLC increased its stake in SL Green Realty Corporation by 7.5% during the second quarter. Lasalle Investment Management Securities LLC now owns 2,349,685 shares of the real estate investment trust’s stock valued at $248,597,000 after acquiring an additional 163,813 shares during the period.

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About SL Green Realty Corporation

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.

Analyst Recommendations for SL Green Realty Corporation (NYSE:SLG)

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