SL Green Realty Corp (SLG) Receives $114.83 Consensus Target Price from Brokerages

Shares of SL Green Realty Corp (NYSE:SLG) have been given an average recommendation of “Buy” by the eighteen brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $114.83.

A number of equities research analysts recently commented on the company. SunTrust Banks set a $115.00 target price on SL Green Realty and gave the stock a “buy” rating in a report on Saturday, October 21st. Barclays decreased their target price on SL Green Realty from $111.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, November 1st. BMO Capital Markets reiterated a “buy” rating and set a $125.00 price target on shares of SL Green Realty in a research report on Wednesday, October 25th. Robert W. Baird lifted their price target on SL Green Realty from $120.00 to $121.00 and gave the company an “outperform” rating in a research report on Monday, October 23rd. Finally, Citigroup reduced their price target on SL Green Realty from $125.00 to $123.00 and set a “buy” rating for the company in a research report on Monday, October 23rd.

SL Green Realty (NYSE SLG) traded up $0.36 during trading on Friday, hitting $94.00. The company had a trading volume of 175,774 shares, compared to its average volume of 995,778. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.11 and a quick ratio of 0.11. SL Green Realty has a 12-month low of $91.20 and a 12-month high of $115.34. The firm has a market capitalization of $9,101.19, a P/E ratio of 106.41, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12.

SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, January 24th. The real estate investment trust reported $1.60 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.60. SL Green Realty had a return on equity of 1.42% and a net margin of 6.71%. The firm had revenue of $361.30 million during the quarter, compared to the consensus estimate of $320.48 million. During the same quarter in the previous year, the company posted $1.43 earnings per share. The company’s revenue was down 3.4% compared to the same quarter last year. analysts expect that SL Green Realty will post 6.74 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd were given a dividend of $0.8125 per share. This is a boost from SL Green Realty’s previous quarterly dividend of $0.78. This represents a $3.25 annualized dividend and a yield of 3.46%. The ex-dividend date was Friday, December 29th. SL Green Realty’s dividend payout ratio (DPR) is currently 369.32%.

SL Green Realty declared that its Board of Directors has authorized a stock repurchase plan on Friday, December 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

In other news, Director John S. Levy sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $103.23, for a total value of $619,380.00. Following the completion of the sale, the director now directly owns 21,827 shares in the company, valued at $2,253,201.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Holliday acquired 7,880 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was acquired at an average price of $25.20 per share, with a total value of $198,576.00. Following the completion of the transaction, the chief executive officer now directly owns 88,900 shares of the company’s stock, valued at $2,240,280. The disclosure for this purchase can be found here. 2.99% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of SLG. Capital Investment Counsel Inc purchased a new stake in shares of SL Green Realty in the third quarter valued at approximately $213,000. Cubist Systematic Strategies LLC purchased a new stake in shares of SL Green Realty in the third quarter valued at approximately $270,000. Everence Capital Management Inc. purchased a new stake in shares of SL Green Realty in the fourth quarter valued at approximately $281,000. Koch Industries Inc. acquired a new stake in shares of SL Green Realty in the second quarter worth approximately $316,000. Finally, ING Groep NV acquired a new stake in shares of SL Green Realty in the third quarter worth approximately $350,000.

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SL Green Realty 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.

Analyst Recommendations for SL Green Realty (NYSE:SLG)

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