SL Green Realty (NYSE:SLG) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of SL Green Realty (NYSE:SLG – Get Rating) in a report published on Thursday. The firm issued a sell rating on the real estate investment trust’s stock.

Other analysts also recently issued reports about the company. Barclays cut their target price on SL Green Realty from $88.00 to $47.00 and set an overweight rating for the company in a research report on Wednesday, December 7th. Morgan Stanley lowered their price target on SL Green Realty from $38.00 to $35.00 and set an equal weight rating for the company in a report on Thursday, March 9th. Wells Fargo & Company lowered their price target on SL Green Realty to $36.00 in a report on Wednesday, December 14th. BMO Capital Markets cut SL Green Realty from an outperform rating to a market perform rating and lowered their price target for the stock from $47.00 to $41.00 in a report on Tuesday, December 6th. Finally, Deutsche Bank Aktiengesellschaft cut SL Green Realty from a buy rating to a hold rating and set a $32.00 price target for the company. in a report on Wednesday, January 4th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $46.31.

SL Green Realty Stock Performance

NYSE:SLG opened at $23.57 on Thursday. The stock has a fifty day moving average price of $36.16 and a 200-day moving average price of $38.25. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -15.82 and a beta of 1.52. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.64 and a current ratio of 2.64. SL Green Realty has a fifty-two week low of $23.15 and a fifty-two week high of $83.96.

SL Green Realty (NYSE:SLG – Get Rating) last released its earnings results on Wednesday, January 25th. The real estate investment trust reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($2.49). The company had revenue of $197.29 million for the quarter, compared to the consensus estimate of $194.74 million. SL Green Realty had a negative net margin of 9.44% and a negative return on equity of 1.62%. The business’s revenue was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 earnings per share. As a group, equities analysts anticipate that SL Green Realty will post 5.48 EPS for the current fiscal year.

SL Green Realty Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th were given a $0.2708 dividend. The ex-dividend date of this dividend was Monday, February 27th. This represents a $3.25 dividend on an annualized basis and a dividend yield of 13.79%. SL Green Realty’s dividend payout ratio (DPR) is presently -218.12%.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 9,000 shares of the company’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $34.31, for a total value of $308,790.00. Following the sale, the director now owns 2,052 shares in the company, valued at approximately $70,404.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.21% of the company’s stock.

Institutional Investors Weigh In On SL Green Realty

Institutional investors and hedge funds have recently made changes to their positions in the business. Wipfli Financial Advisors LLC bought a new stake in shares of SL Green Realty during the 3rd quarter valued at about $32,000. Rockefeller Capital Management L.P. raised its stake in shares of SL Green Realty by 255.1% in the third quarter. Rockefeller Capital Management L.P. now owns 806 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 579 shares during the last quarter. Activest Wealth Management purchased a new stake in shares of SL Green Realty in the third quarter worth approximately $33,000. SeaCrest Wealth Management LLC purchased a new stake in shares of SL Green Realty in the second quarter worth approximately $47,000. Finally, CWM LLC raised its stake in shares of SL Green Realty by 583.3% in the fourth quarter. CWM LLC now owns 1,066 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 910 shares during the last quarter. Institutional investors own 82.00% of the company’s stock.

SL Green Realty Company Profile

(Get Rating)

3SL Green Realty Corp., Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.